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Energy Company Lease Pushes Hines Downtown Tower to 80 Percent Occupancy

The 609 Main at Texas building was designed by Pickard Chilton.

HOUSTON – (Realty News Report) – EnVen Energy Corp. signed an 11-year lease for 57,139 SF at 609 Main at Texas, a 48-story, 1,073,075-SF office tower in downtown Houston.

The independent oil and natural gas firm which specializes in  deepwater properties in the Gulf of Mexico, will relocate to the building this fall and will occupy the thirty-first and thirty-second floors.

With the signing of this lease, 609 Main at Texas stands at 80 percent leased. Other notable tenants include Kirkland & Ellis LLP, Orrick, Hogan Lovells, McKinsey & Company, Russell Reynolds Associates, Royal Bank of Canada, Goldman Sachs, and United Airlines.

In addition, there are several transactions in progress which will bring the building to 93 percent leased.

Hines was represented by Michael Anderson and Damon Thames of Colvill Office Properties while EnVen Energy was represented by Jim Bailey of Cushman Wakefield.

Downtown Houston has been digesting its supply of office space after vacancy soared in recent years with a decline in oil prices. At year-end, downtown Houston had a 1.5 million SF supply of Class A sublease space, according to CBRE. Class A vacancy in the Central Business District stood at 14.8 percent – or 19.8 percent vacancy if sublease space is included.

Downtown’s office market is also experiencing the ‘flight to quality” as office tenants upgrade to new buildings or recently renovated buildings.

609 Main, which held its grand opening on May 17, 2017, was designed by the internationally recognized architectural firm Pickard Chilton.

The building has a “hotel-style” lobby with a café and spaces for networking; a 7,000-SF high-performance fitness center and 8,000-SF conference center; full-height windows allowing for an abundance of natural light throughout the building; a sophisticated underfloor HVAC system; and private roof gardens in select tenant spaces.

Hines, founded in 1957 by Gerald D. Hines, has a presence in 207 cities in 24 countries.

Feb. 22, 2019 Realty News Report Copyright 2019

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