Texas Tower Secures Major Leases as Occupancy Reaches 94%

Deal News | Nov 21, 2024 | Hines Interests LP

Texas Tower Secures Major Leases as Occupancy Reaches 94%

Hines Interests LP, alongside its partner Ivanhoé Cambridge, has announced new leasing agreements at Texas Tower, a premium office space in downtown Houston. With the new agreements totaling 182,600 square feet, Texas Tower is now 94% leased, demonstrating its success in capturing the evolving demands of the office market. Sable Offshore Corp, Moelis & Company, and Sheppard Mullin, among others, have secured leases starting between the third and fourth quarters of 2025. These tenants are attracted by Texas Tower's innovative office environment featuring design-forward amenities that facilitate collaboration and sustainability. The deals symbolize the strategic direction defined by co-developers Hines and Ivanhoé Cambridge to meet the evolving needs of top-tier tenants seeking sophisticated workspaces that align with modern business standards. The leasing activities underscore Texas Tower's strategic importance within the urban elite office space market, while also illustrating the confidence of global businesses in this premium building's ability to provide a future-oriented work ecosystem.

Sectors

  • Real Estate
  • Investment Management
  • Commercial Real Estate Leasing

Geography

  • United States – The activities and leases described in the article are all centered around the Texas Tower located in Houston, USA.
  • Canada – Ivanhoé Cambridge, a Canadian company, is involved as a co-developer of Texas Tower.

Industry

  • Real Estate – The article pertains to real estate transactions involving office leasing at the Texas Tower in Houston.
  • Investment Management – Hines and Ivanhoé Cambridge, as real estate investment firms, demonstrate strategic investment in premium office spaces.
  • Commercial Real Estate Leasing – The focus on leasing activities within a major commercial property falls under this industry classification.

Financials

  • – The article does not specify any financial transaction amounts related to the leases.

Participants

NameRoleTypeDescription
Hines Interests LPCo-Developer and LandlordCompanyA global real estate investment manager involved in the development and leasing of Texas Tower.
Ivanhoé CambridgeCo-DeveloperCompanyA Canadian global real estate group that partners in the development of Texas Tower.
Sable Offshore CorpTenantCompanyAn independent upstream company leasing space in Texas Tower.
Moelis & CompanyTenantCompanyA global independent investment bank leasing space in Texas Tower.
Sheppard MullinTenantCompanyA full-service law firm leasing space in Texas Tower.
Squarepoint CapitalTenantCompanyA privately held quantitative investment management firm leasing space in Texas Tower.
CBRETenant BrokerCompanyAdvised several tenants on leasing negotiations at Texas Tower.
Cushman and WakefieldLandlord BrokerCompanyRepresented the landlord in lease negotiations for Texas Tower.
CDPQParent CompanyCompanyParent company of Ivanhoé Cambridge, involved in strategic real estate investments.