HOUSTON – (Realty News Report) – Hicks Ventures and Taconic Capital Advisors revealed plans for a $6 million renovation of the 18-story 1177 West Loop South office tower in the Galleria submarket.
The 342,000-SF building, which opened in 1979, is located on the east side of Loop 610.
“Since we acquired the building less than a year ago we have been working diligently to complete a master plan that will usher in a new era for this highly-visible and prominent tower in Uptown,” said Paul Frazier, director of the Houston office group for Hicks Ventures, the Houston company handling leasing and property management. “This aggressive capital improvement plan we are undertaking is a game changer for this iconic building,”
Gensler will serve as the architect of record for both the exterior and interior renovations of the building and Terralab has been tapped as the landscape architect.
The exterior of the building, the garage connector and outdoor plaza are being reimagined. A continuous, striking ribbon of light that follows the curve of the façade will highlight the canopy and provide branded recognition.
The renovations, which follow upgrade programs in 2014 and 2017, are slated for completion by August.
The property sits on 4.4 acres near Post Oak Park and Post Oak Blvd. The office building, which has 20,000-SF floor plates, is 74 percent leased with Cornerstone Mortgage leasing 65,000 SF.
Hick Ventures was founded in 2007 by Pat Hicks, who was formerly an executive with Trammell Crow and Metro National Corp.
Taconic Capital Advisors was founded by former Goldman Sachs partners Frank Brosens and Ken Brody.
Feb. 26, 2020 Realty News Report Copyright 2020
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