HOUSTON – (Realty News Report) – Transwestern has been retained by Brookfield Property Partners to provide leasing services for Houston Center, an iconic mixed-use campus in Houston’s Central Business District comprised of 4.2 million SF of office and retail space.
Transwestern’s office leasing team includes Executive Vice President David Baker, Vice President Kelli Gault, Managing Director Doug Little and Senior Vice President Debbie Wilson. Handling retail leasing will be Tranwestern’s Managing Director Nick Hernandez, Senior Vice President Crystal Allen and Senior Associate Kim Bernick.
“We are honored to have been chosen to work alongside the visionary leaders at Brookfield to lease this signature project,” said Kevin Roberts, Transwestern’s Southwest President. “Contributing to the repositioning of Houston Center is a one-of-a-kind opportunity, and we look forward to providing extraordinary results for Brookfield. Houston Center is in one of the most dynamic areas of downtown, which has seen a tremendous revitalization, attracting new businesses and creating a compelling environment for both tenants and visitors.”
Located near Discovery Green, Marriott Marquis, George R. Brown Convention Center, Avenida Houston and a number of residential towers, the Houston Center complex has earned a walk score of 98, the highest rating in Houston.
Brookfield acquired Houston Center last year from J.P. Morgan Asset Management for $875 million, one of the largest real estate transactions ever completed in Houston. Houston Center is east of Main Street, around McKinney and Fannin streets. At the time of the sale, the occupancy rate was about 72 percent.
Brookfield is expected to spend heavily – in excess of $50 million – for a redo of Houston Center, which was constructed in the 1970s and 1980s. Travis Overall, Executive Vice President and Head of the Texas Region for Brookfield, recently said in excess of $50 million will be budgeted for a Houston Center renovation, which will expand and improve the offering of amenities and redefine the public areas, lobbies, skybridges and plazas.
“Once renovations at the development are complete, Houston Center will have the most amenity-rich office environment in the Central Business District and will be the premier location to attract and retain employees,” said Baker. “The development will have the most food, entertainment and fitness options in the area, multiple indoor and outdoor workspaces throughout the complex, and will be within walking distance of many new residential and hotel options.”
Houston Center includes:
LyondellBasell Tower – 46 stories; 1.1M SF at 1221 McKinney St.
2 Houston Center – 40 stories; 1M SF at 909 Fannin.
Fulbright Tower – 51 stories; 1.2M SF at 1301 McKinney.
4 Houston Center – 16 stories; 674,000 SF
The Shops at Houston Center – 3 stories; 196,000 SF.
Brookfield also owns the Allen Center complex in downtown Houston.
Jan. 30, 2018 Realty News Report Copyright 2018