HOUSTON – Bank of America has acquired the naming rights for the new Skanska USA tower under construction in downtown Houston.
The 35-story office tower will be located on a block bounded by Capitol, Rusk, Milam and Travis streets, will be complete in the first half of 2019.
At an event on Thursday to mark the vertical construction, Hong Ogle, head of Bank of America operations in Houston, said the exact name of the building has not been determined, but it will include the B of A brand name.
Relocating from the Bank of America Center, which has developed by Hines over 30 years ago, will enable the financial institution to consolidate its offices into one building. Currently Bank of America has downtown offices in 1221 McKinney, 600 Travis and the Bank of America Center at 700 Louisiana, Ogle said.
Bank of America will occupy 205,000-SF of office space in the new building and 5,000-SF of retail space. Warren Savery, Kristen Rabel and Rima Soroka of CBRE represented Skanska in the office space negotiations.
The new building will have 754,000 SF of office space and 26,000 SF of retail. The building, 800 Capitol St., which will have extensive retail and restaurant space in the tunnel level.
The building, built on the site of the old Houston Club building, is at a key underground intersection of downtown’s tunnel system, linking many buildings in the CBD.
“Capitol Tower is the only building with five tunnel connections,” said Matt Damborsky, executive vice president for Skanska USA Commercial Development in Houston. Skanska, part of a large international construction firm, is financing the building with internal funds, Damborsky told an audience assembled Thursday at the downtown J.W. Marriott hotel.
The building, which is pre-certified LEED Platinum, was designed by Gensler. The tower is temporarily named Capitol Tower, until it is officially christened with a Bank of America name of some sort.
Bob Eury, president of the Central Houston, said the Skanska site was once the location of the old Bristol Hotel, which opened in 1908. Jesse Jones developed the hotel, which stood until Jones tore it down 45 years later to build the Houston Club Building.
A few years ago, Skanska bought the Houston Club building, which was imploded in 2014. The foundation for the building was poured in 2015 and the initial levels of the parking garage were built. Ten levels of the garage structure have been erected so far.
The parking garage, to be 11 stories tall, will be topped with 24 levels of office space. For the adjoining office building, five levels of superstructure have been completed, leaving 30 more to be built.
June 22, 2017 Realty News Report Copyright 2017