Friday , 30 September 2016
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The Biggest Spec Building in America Drawing Tenant Interest

Photo of construction site for Hines 1 million sf spec in downtown Houston. Photo By Ralph Bivins, RealtyNewsReport

Photo of construction site for Hines 1 million sf spec in downtown Houston. Photo By Ralph Bivins, RealtyNewsReport

HOUSTON – The biggest spec office tower in the nation, under construction by Hines on Main Street in downtown Houston, is attracting interest from corporations that are interested in leasing space there, as expected.

“We are in advanced discussions with several large tenants,” said Hines spokesman Mark Clegg. But at this point no leases have been signed.

The foundation of the 1,050,000-square-foot building was poured in August. The 48-story building, 609 Main at Texas, is scheduled for completion in early 2017.

The Houston economy has been strong and office occupancy and rents have been rising. Some downtown Class A buildings are quoting rates around $50 per sf. In the last quarter alone, downtown’s Class A rental rates increased 5 percent, according to Colliers International.

Rendering of new Hines tower under construction in downtown Houston at 609 Main.

Rendering of new Hines tower under construction in downtown Houston at 609 Main.

The 609 Main at Texas tower is being developed by the Hines CalPERS Green development fund, a partnership that focuses exclusively on developing sustainable office buildings throughout the United States certifiable through the U.S. Green Building Council (USGBC) Leadership in Energy and Environmental Design Core & Shell program.  This same partnership developed the BG Group Place tower also on Main St., two blocks from the construction site.

When completed, 609 Main at Texas is expected to attain Gold or Platinum LEED certification.D.E. Harvey is the general contractor.  Architecture is by Pickard Chilton.

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