HOUSTON – (Realty News Report) -CBRE has been awarded the exclusive leasing and management assignment for Four Oaks Place, a 5-building office complex totaling 2.3 million square feet of Class A office space in Houston’s Uptown Galleria submarket.
CBRE’s Russell Hodges, Bubba Harkins, Kristen Rabel, and Jenny Mueller will represent the property on behalf of ownership, a joint venture between Nuveen Real Estate and Allianz.
“Four Oaks Place is a project that has always outperformed the market,” said Russell Hodges, Executive Vice President at CBRE. “We are confident that trend will continue thanks to its innate qualities that have made Four Oaks Place the premier Uptown address for decades. Additionally, we are excited about Nuveen’s plans to further modernize the complex and continue enhancing the amenity offering for their customers”.
Architecture by Cesar Pelli
Designed by famed international architect Cesar Pelli, Four Oaks Place developed by Houston developer Giorgio Borlenghi of Interfin Cos. The development, located about a mile north of the Galleria near San Felipe road, opened in 1983.
PROJECT DESCRIPTION: Four Oaks Place is a distinguished complex of crisp, colorful buildings whose horizontally banded glass facades create an ever-changing mirror, which has long been the focal point of the northern end of Post Oak Boulevard. The exterior walls, constructed of dual-pane insulated glass with reflective coating, conserve energy and soften sound transmission from the outside. The unique design of the buildings provides each floor with eight corner offices with panoramic views. The corridor design allows for at least four tenants on a floor to each have dedicated elevator lobby exposure.
Skylar Huth of Nuveen: “World-Class Environment”
“As the role of the office evolves, Nuveen Real Estate is committed to providing a world-class environment for our tenants at Four Oaks Place,” said Skylar Huth, Director, Asset Management at Nuveen Real Estate. “We are excited about the future of Four Oaks Place and have some exciting developments on the horizon that will further enhance and reinvigorate office life.
Four Oaks Place has a large central green space in Uptown Houston. The project has nine separate parking garage entrances and exits. Four Oaks Place boasts an amenity package that includes a full-service cafeteria on-site, conferencing facilities, a professionally operated fitness center with personal training, group classes and massage therapy, a shared tenant lounge, a gourmet coffee outpost, dry cleaning services, car wash services, and numerous walkable restaurants.
The Houston office market has been passing through a rough patch as the energy industry has contracted while the pandemic slowed leasing activity. The Houston office vacancy is around 24 percent, ranked as the worst in the nation by some real estate researchers.
Co-Working, Industrious and Flexible Space
According to CBRE’s most recent Global Occupier Sentiment Survey, flexible space is emerging as an attractive office building amenity. Among occupiers in CBRE’s survey, 82 percent indicated flexible office space options and shared meeting space were important site selection criteria in the future.
Earlier this year, CBRE Group acquired of a 35 percent interest in Industrious, a provider of flexible workplace facilities. As part of the transaction, CBRE’s flexible-space solutions offering, Hana, is being merged into Industrious. Dallas has a Hana location, the only Hana facility in Texas.
June 17, 2021 Realty News Report Copyright 2021
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
Ebook version https://tinyurl.com/4xm7z8b5
Image: Courtesy CBRE
File: CBRE Gains Four Oaks Assignment. Class A office. Nuveen. Interfin