HOUSTON | Five Allen Center | HEIGHT | 35 FLOORS

[Wattleigh]

Although many of the Houston forumers have been aware of the Brookfield Properties proposals to some extent over the past few years, this year has been the first time anything remotely concrete has been mentioned about the taller of the two. This one would be located on a surface lot bordered by West Dallas Street, Clay Street & the Pierce Elevated.

From a Houston Business Journal article in March...

Brookfield is planning a 50-story office building on a 2.5-acre site west of 3 Allen Center, but will not begin construction until it is at least 50 percent leased, said Paul Layne, Brookfield's executive vice president over the Houston region.

Layne predicted that by the time Brookfield's all-glass, planned LEED Gold-certified building is finished, Class A rental rates downtown will be roughly $50 per square foot on a 10-year lease. That's estimating that rent will be in the mid- to low-$30s per square foot and operating costs will be $15 per square foot.

In this month's Corporate Profile, a preliminary rendering was included for the "Near Term Future Developments" section on Page 12.