HOUSTON – Hines, the property and leasing manager for Phoenix Tower in Houston, on behalf of building owner FSP Phoenix Tower Limited Partnership, announced that New York Life has signed a long-term lease for 33,394 square feet. Phoenix Tower is a recently renovated, 34-story, 629,000-square-foot office tower located at 3200 Southwest Freeway, near Buffalo Speedway. With the signing of this lease, the building is now 82 percent leased.
The insurance company was represented in lease negotiations by Chip Horne of Cushman & Wakefield. Tyler Garrett and Paula Bruns of Hines represented the landlord.
New York Life is the largest mutual life insurance company in the United States, with more than $325 billion in assets under management.
All of the equity interests in FSPLP are owned, directly and indirectly, by FSP Phoenix Tower Corp. (“Phoenix Tower Corp.”), a corporation sponsored by Franklin Street Properties Corp. Phoenix Tower Corp. is a Delaware corporation formed to purchase, own, operate, improve and reposition Phoenix Tower in the marketplace. Phoenix Tower Corp. is a public reporting company. PhoenixTower is not owned by FSP.
FSP and its affiliates own and operate approximately 1.5 million square feet of Class A office space in greater Houston, including The Offices at Park 10, Energy Tower I, and Eldridge Green (CITGO’s corporate headquarters). FSP is based in Wakefield, Mass.