Howard Hughes Holdings Inc. announced the acquisition of Waterway Plaza II, a Class A office building that offers 142,448 rentable square feet in The Woodlands Town Center--the downtown core of the company's acclaimed community of The Woodlands®? in the Greater Houston region. purchased for $19.2 million, the six-story building sits on a 3.23-acre site and includes a 1,316-space parking garage.

With current occupancy of 55%, Waterway Plaza II provides much needed inventory to Howard Hughes' office portfolio in The Woodlands Town Center, which is currently 96% leased. Waterway Plaza II is a LEED Silver and ENERGY STAR certified building that offers high visibility and accessibility, providing walkable access to The Woodlands Waterway and its extensive retail, dining, and entertainment, as well as convenient access to I-45. It is located next door to 10 Waterway, The Woodlands' next Class A office development opportunity directly adjacent to Waterway Square and its destination retail.