Posted May 8, 2018, 2:06 PM
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Moderator
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,381
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Hines Block 58 office tower comes in at 48 floors; with a tenant reportedly close to signing a lease.
http://www.houstonarchitecture.com/h...comment=568238
Quote:
HOUSTON - (Realty News Report) - Houston's next skyscraper - expected to be a 48-story, 1 million-SF tower - is quickly moving toward a construction start with the anticipated signing of an anchor tenant in the offing, Realty News Report has learned.
Hines will develop the tower on the site of the former Houston Chronicle building, which was demolished and is now a surface parking lot. The site, known as Block 58, is bounded by Texas Avenue, Travis, Milam and Prairie.
The Vinson & Elkins law firm is expected to sign a lease soon for approximately 250,000 SF, which is enough to accelerate the timetable for development. Vinson & Elkins' current lease in the 1001 Fannin building, formerly known as First City Tower, expires in 2021 and construction work needs to start soon to meet the law firm's deadline. No formal lease announcement has been made, but people in the real estate community say it appears to be close to a done deal.
The new Hines building is designed to be 36 stories of office space stacked atop a 12-level podium with street-level restaurants, a hospitable lobby, a fitness center and a parking garage with landscaped terraces. The building is expected to feature a distinctive crown to mark this new addition to the Houston skyline by the international development firm founded by master developer Gerald D. Hines in 1957.
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