One O'Connor Plaza
The Property is located in Downtown Victoria, Texas which is the center of the financial and legal community for a seven county area. At twelve-stories in height, The One O’Connor Building is the tallest and most prominent office facility in the Victoria metropolitan area. Constructed in 1985, One O’Connor Plaza is 164,422 square feet net rentable area (NRA). The building is fully sprinkled and connected to a four level attached parking garage. The garage is connected to the building via a glass enclosed air-conditioned sky bridge. The Property also features two rooftop helipads, primarily used by the building’s second largest tenant, the O’Connor Estate. A covered pavilion on the ground level adjoins the southern-most part of the building and is used for many community events.
The Class A building was built by Hines for the O'Connor’s and their Victoria Bank & Trust. The bank and the building were acquired by Norwest Bank, N.A. (now Wells Fargo Bank) in the mid-90s and as the bank's back office operations were consolidated into other locations, vacancy arose at the building. Because the Norwest did not actively market and manage the building, the vacancies were not back filled. Griffin Partners (GP) acquired the building from Norwest Bank in October 1999. GP made some improvements and began to aggressively market the building where after occupancy rose from 67% to 100% over approximately 18 months adding significant value to the investment. Griffin Partners sold One O’Connor Plaza in June 2009.