HOUSTON – (Realty News Report) – Two energy firms signed lease renewals at the tallest office tower in Texas – the 75-story 600 Travis building, which is undergoing a big redo of its first-floor plane.
Designed by I.M Pei, the 1.7 million-SF office building, also known as JPMorgan Chase Tower, is owned by Hines, along with an affiliate of Cerberus Capital Management, L.P.
The two lease commitments – by Indigo Natural Resources and Momentum Midstream – followed a 250,000-square foot leaserecently signed by JPMorgan Chase bank.
“Carrying on the momentum from our recent announcement of a new 250,000-square-foot lease with a global financial services firm, these two additional lease renewals signify that Houston companies are dedicated to providing safe, healthy and state-of-the-art office spaces for their employees,” said John Mooz, senior managing director at Hines. “In tandem with the transformational redesign, we are aiming to incorporate new interior and exterior elements, including a re-engagement of public spaces, park-like landscape finishes, and an added transparency element to create a more collaborative urban experience.”
Hines plans significant renovations to the first-floor plane of the building, which is adjacent to Houston’s Theater District.
The tower’s plaza area will be transformed into a urban garden featuring increased green space and more connections between the outdoors and the building. Designed by HOK, the reimagined lobby will feature a new glass pyramid entry to create a larger lobby with immense natural light.
The two closed deals include a 45,125-square-foot renewal of Indigo Natural Resources LLC and a 22,575-square-foot renewal of Momentum Midstream. Collectively, both energy-based tenants occupy space on floors 55-57 of the building.
Mark Russell of Newmark Knight Frank represented Indigo Natural Resources LLC and Momentum in both lease transactions. Michael Anderson, Diana Bridger, Margaret Elkins and Brad Beasley of Cushman & Wakefield represented the building owners – Hines and Cerberus.
The office tower, located on a downtown block bounded by Texas, Travis, Capitol and Milam streets, serves as the headquarters for both Indigo and Momentum Midstream.
Indigo Natural Resources is a natural gas producer that has worked in the Haynesville Shale, the Bossier Shale and the Holly Vaughn formations in Louisiana.Momentum Midstream is known as pipeline firm that provides central delivery point, wellhead gathering, gas processing and treating, compression, and other services for oil and gas companies.
Hines is a privately owned global real estate investment firm founded in 1957 by the late Gerald D. Hines. The company, which has two high-rise projects under construction in downtown Houston, has a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management.
JPMorgan Chase bank and Hines have not confirmed that JPMorgan has signed the 250,000-SF lease to return to the 600 Travis building. However, Realty News Report identified JPMorgan as the tenant in an exclusive story earlier this year.
Then in July, Realty News Report reported that the 17-story 1111 Fannin building, where the bank is the sole occupant, is currently being marketed for sale by Danny Miller and Marty Hogan of JLL Capital Markets.
Sept. 2, 2020 Realty News Report Copyright 2020
File: Energy Firms Lease Space
Rendering – Courtesy Hines
File: (2) Downtown Houston. Hines. 600 Travis. Energy firms lease space 9-2-20