US Enterprise Products Company affiliate buys Houston Shell Plaza

11 July 2012 02:33  [Source: ICIS news]

HOUSTON (ICIS)--An affiliate of Enterprise Products Company has agreed to acquire the landmark Shell Plaza buildings in downtown Houston, the company said on Tuesday.

Privately held Enterprise Products Company, which owns significant equity interests in midstream natural gas and pipeline company Enterprise Products Partners, acquired the complex from real estate firm Hines.

The companies did not release the financial terms of the acquisition, but Enterprise Products Company reportedly will pay more than $550m (€446m) for the two buildings, according to the Houston Chronicle.

The 1.8m square foot One Shell Plaza and Two Shell Plaza office complex was completed in 1970.

By: Brian Ford
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