Houston's Office Market Recovery Hits a Speed Bump in Q2
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Major Lease Transactions Downtown Houston
MAJOR LEASE TRANSACTIONS DOWNTOWN HOUSTON This is a comprehensive list of publicly available leases in Downtown Houston, including new-to-Downtown, expansions and renewals. Year Company Type To From Square Feet 512,845 Enterprise Plaza 2020 Enterprise Products Partners Renewal (incl. 2019 (1100 Louisiana) expansion: 22,301) 2020 JP Morgan Chase New/Relocation 600 Travis 1111 Fannin 253,230 5 Houston Center 2020 Venture Global LNG Renewal/Expansion 58,514 (1401 McKinney) (Expansion: 29,257 2020 Summit Midstream Partners, LP New to Downtown/Sublease 910 Louisiana The Woodlands 48,632 LyondellBasell Tower 2020 Mitsubishi International Corporation Renewal 45,838 (1221 McKinney) Pennzoil Place – North Tower 2020 Cheniere Energy Expansion 33,127 (700 Milam) Texas Tower Wells Fargo Plaza 2020 DLA Piper Relocation/Expansion 31,843 (845 Texas) (1000 Louisiana) (Expansion: 6,836) Bank of America Tower 2020 Waste Management Expansion 31,750 (800 Capitol) USA: Office of the Comptroller and Fulbright Tower 2020 Renewal 27,223 Office of the Currency (1301 McKinney) One Allen Center 2020 TPC Group Renewal 24,803 (500 Dallas) Fulbright Tower 2020 AXIP Energy Services Renewal 24,657 (1301 McKinney) 2020 Chevron Expansion 1600 Smith 23,699 2020 Plains All American Refining, L.P. Expansion Three Allen Center (333 Clay) 23,172 Source: Central Houston, Inc. Updated 08-31-2020. 1 Year Company Type To From Square Feet 2020 Lone Star Legal Aid Renewal 500 Jefferson 20,020 2020 Squire Patton Boggs Renewal 600 Travis 15,641 2 Houston Center 2020 USA: Office of the Comptroller Renewal 14,624 (909 Fannin) 2020 Rockcliff Energy, LLC Renewal 1301 McKinney 14,403 (Short-Term) 2020 Enbridge, Inc. -
SC17/TG08: Task Group on Completion/Workover Risers (17G)
SC17/TG08: Task Group on Completion/Workover Risers (17G) December 11, 2015 Chair Brian Skeels FMC Technologies Ph: 281 591-4333 Manufacturer 5875 N. Sam Houston Pkwy W. Fax: 281 405-4643 Houston, Texas 77086 [email protected] Co-Chairs Tony Muff FMC Technologies Ph: 47 3328-8865 Manufacturer Box 1012 Fax: 47 3228-6750 N-3601, Kongsberg [email protected] Norway Ray Stawaisz Chevron Corporation Ph: 832 854-3225 Operator-User 1500 Louisiana Street Fax: 832 854-3210 Room 12-092B [email protected] Houston, Texas 77002 Member Joe Scranton AlTiSS Technologies Ph: 832 288-5972 Contractor 3838 N. Sam Houston Pkwy, 430 Fax: 281 265-2818 Houston,Texas 77583 [email protected] Gary Rytlewski Retired - Schlumberger Ph: 832 573-6738 Consultant 4757 Oakmont Court League City, Texas 77573 [email protected] Brian Saucier Ph:713 817-6051 Consultant 95 Robindale Circle Fax: Conroe, Texas 77384 [email protected] Jim Miller Chevron Corporation Ph: 832 854-4811 Operator-User 1600 Smith Street, Fax: 832 854-3210 Room 33094A [email protected] Houston, Texas 77002 Richard Cummings Chevron Corporation Ph: 713 754-3196 Operator-User 1600 Smith Street, Fax: 832 854-3210 Room 33094C [email protected] Houston, Texas 77002 Paul Deacon Expro Group Ph: 44 1224-225-856 Contractor Lion House Fax: 44 1224-225-868 Dyce Avenue [email protected] Aberdeen, Scotland AB21 0LQ United Kingdom Jamie Walker Expro Group Ph: 44 1224-225-788 Contractor Lion House Fax: 44 1224-225-868 Dyce Avenue [email protected] Aberdeen, Scotland AB21 0LQ United Kingdom Finn Kirkemo Statoil Ph: 47-9012-7901 Operator-User Martinshaugen 30, Fax: 3408, Tranby [email protected] Norway Send updates to [email protected] 1 SC17/TG08: Task Group on Completion/Workover Risers (17G) December 11, 2015 Member Lorents Reinås Statoil Ph: 47-9115-3047 Operator-User Forus Øst, H2 Fax: 4035, Stavanger [email protected] Norway Tore Geir Wernø Statoil Ph: 47 9522-5568 Operator-User Forus Øst, H2 Fax: 4035, Stavanger [email protected] Norway Mirick Cox ExxonMobil Production Co. -
Downtown Houston Development Continues Despite Covid-19
MEDIA CONTACTS Angie Bertinot / Central Houston [email protected] / 713-650-3022 Whitney Radley / The CKP Group [email protected] / 832-930-4065 x 106 FOR IMMEDIATE RELEASE JANUARY 19, 2021 DOWNTOWN HOUSTON DEVELOPMENT CONTINUES DESPITE COVID-19 More than $1.9 billion in construction projects currently underway with more on the horizon HOUSTON, TX — While the Greater Houston Area begins to recover from the COVID-19 pandemic, Downtown Houston has shown its trademark resilience and grit in the face of the unexpected. Over the past year, office employees have adapted to working from home, hospitality groups have rolled out new services options and staycations, residential properties have adopted technology to conduct virtual space tours and the construction sector has continued grow. More than $1.9 billion in construction projects are currently underway in Downtown Houston, an area defined by IH-45 to the west and south, Highway 59 to the east and IH-10 to the north. “In recent years, Downtown Houston has transitioned from a central business district to a prime destination to live, work, play and stay,” said Bob Eury, president and CEO of the Houston Downtown Management District. “While the pandemic has resulted in some set- backs, we’re seeing confidence in the market: businesses and office employees have adapted to the new normal with agility, developers are leveraging the opportunity to maximize construction across all sectors and the area remains a culinary and cultural destination for Houstonians and visitors.” Office Projects Downtown Houston remains a dynamic business center with a workforce of approximately 158,000 employees and more than 51 million square feet of office space. -
Walking Tour – Houston Building Stones Revised 10/2008 Neal Immega – N [email protected] Houston Gem and Mineral Society, Houston Geologic Society
Walking Tour – Houston Building Stones Revised 10/2008 Neal Immega – [email protected] Houston Gem and Mineral Society, Houston Geologic Society Start at Main Street Metro North Bound (NB) on the east side of the map ‘HoustonBuildingStones WalkingTour.gif. You need to do this tour during business hours when you can get into the buildings. The whole tour takes about 90 minutes. IBC Bank – 1001 McKinney - Just inside the bld is a lobby faced with a limestone made of stoney bryozoa. Age unknown Jesse Jones Building – JPMorgan Chase 712 Main St. – built in the old style with lots of decorative stone. Outside is scored Indiana limestone. Interior has marble and colored travertine (a flowstone deposit). Esperson Building 808 Travis, 815 Walker Town Mountain Granite from Austin, Bedford oolite, marble and serpentine (Verde Antique) http://uts.cc.utexas.edu/~rmr/tmg.html http://www.vermontmarbleandgranite.com/marble/vermont_verde_ant.htm Granite Building with Texas Star decoration – No name. Enter on the McKinney side. Back lighted onyx in escalator lobby. Basement has a Cretaceous rudist limestone and a Paleozoic stromatoporoid limestone. Wells Fargo Bank Building – flame cut poikilitic granite as pavement, zoned feldspars on the outside wall. Dynegy – 1400 Smith St. Black facing stone is a basic rock from Norway called Larvikite. http://www.toyen.uio.no/geomus/nettutstillinger/Osloriften/larvikitt-eng.html One Shell Plaza - 900 Louisiana Italian travertine. (Travertino Romano) Deposited by algae in freshwater hot springs. An inexpensive stone but a poor choice for an exterior stone. http://www.iltravertino.com/pagine/thecompany.html Houston City Hall – 901 Bagby Walls are Austin Stone (Cordova Shell) containing fossil shells. -
35 Years of One Shell Plaza
iiiiiilliiiiiiiiiiiiiiiiiiiiini IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII =IIB ••••••••••••••••••iiiiiiiiiini i ........ aasS§| iiiiiiimiiiiiiiiiiiiiiiiiiiui IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIBIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII /flffllfllfff IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII fllllllflllll firfiffiifin IIIIIIIIIIIIIIIIIIIIIIIIIIIIIRII /ifffiffifiii llllllllllllllllllllllllllllllll fiifiiifiini "?ffiiiifiii 1111111111111111111111111111111 »lfffifilllii nmmun «lllllllllllllllllllllllllllllll i«»ni llllllllllllllllllllllllllllllll s llllllllllmmmllllllllmll IHIIIIIIIIIIIIIIIIIIIIIIIIIIIIl IIIIIIIIHIIIIIIIIIHimillllll ^IIIIEPIIIll till Ellililllllll llllllllllllllllllllllllllllllll Ss lllllllllllllllllllllllltlllllll railllllllllBl^llllJIIll I '0^4 CITE 67 : SUMMER 2006 25 35 Years of One Shell Plaza Once the world's tallest concrete building, One Shell Plaza still has lessons to teach INTERVIEW W I T H J O S E P H C O L A C O BY W I L L I A M F. S T E R N A N D C H R I S T O F S P I E L E R When it wus finished m Il>7l, One Shell tin this project, research that has served beams welded together at very, very close the post modern movement came about. Plaza was the world's tallest concrete the industry well over many, many years. S[\K nig. I he World 11.ufe i enter had Before that we had basically a Miesi.m- building. The 7IS-foot, 50-story build- And then when I moved ro Houston in columns that were three-feet-four-inches type design, which some call International ing, which fills the block bounded by I4f>^, the building was just about fin- on center on the outside and a very deep Style, buildings were fairly regular. They Louisiana. Smith. Walker, and McKinney. ished. For the last 3.5 years, I have been spandrel beam. F.ssenrially, you could were rectangular, ihey prcttv much went was also Gerald D. -
Offering Summary Investment Overview
HOUSTON DOWNTOWN OFFERING SUMMARY INVESTMENT OVERVIEW HFF is pleased to offer on an exclusive basis the opportunity to acquire the fee-simple interest in the 350-room Doubletree Downtown Houston (“Property” or “Hotel”), prominently situated within Allen Center – an institutional-quality mixed-use office/retail/hotel complex – in the Houston CBD. The Hotel is strategically located near many of Houston’s top demand drivers including the George R. Brown Convention Center, Minute Maid Park (home of the Houston Astros), Toyota Center (home of the Houston Rockets) and over 51 million square feet of office space within a 1-mile radius. Many of the Fortune 500 companies located in Houston are within blocks of the Property, including Deloitte, Chevron and KBR. The Property is being offered fully unencumbered from both brand and management, presenting the next owner with a completely blank slate. With an irreplaceable location within Houston’s CBD core and strong in-place cash flow, the DoubleTree offers investors a unique, unencumbered opportunity with tremendous upside potential. INVESTMENT HIGHLIGHTS UNIQUE DOWNTOWN HOUSTON LOCATION The Property boasts an enviable location within Allen Center in Houston’s CBD, benefiting from downtown’s diversified demand base – not only corporate but also convention, sports, leisure, culture, medical, university/ education – and pedestrian friendly environment. This ideal mix of demand drivers has allowed the CBD to TWO ALLEN CENTER 1 MILLION SF continually outperform Houston’s overall market, as well as the -
Quarterly Market Overview 2017 Third Quarter
Quarterly Market Overview For more information, please contact: David Mendel, Public Relations Manager 2017 Third Quarter Phone: 713.629.1900 ext. 258 FOR IMMEDIATE RELEASE E‐mail: [email protected] HOUSTON’S OFFICE MARKET RECOVERY SLOW, INDUSTRIAL DEMAND REMAINS HIGH HOUSTON — (October 18, 2017) — Houston’s commercial real estate market is optimistic after grappling with Hurricane Harvey amid the continued energy recovery, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of Realtors (HAR). For office space, direct negative net absorption of 39,995 square feet was recorded; Class A and C showed positive absorption of 246,119 square feet and 18,230 square feet, respectively, while Class B reported negative absorption of 304,344 square feet. Move-ins at 609 Main including four different firms who preleased space in the new building accounted for almost 263,000 square feet of the Class A positive absorption. Year-to-date overall totals are positive for the year primarily due to the first quarter occupancy of 600,000 square feet by BHP Billiton in its new headquarters building, although the firm is leaving behind more than 320,000 square feet that is currently on the sublease market. Space left behind by various firms occupying new properties along with sublease spaces converting to direct space will continue to affect the vacancy rate. The current 16.7% direct vacancy rate is unchanged from last quarter, but up from the 15.5% recorded during the same quarter in 2016. Class A space overall is 16.0% vacant, Class B is 19.1% vacant and Class C is 11.4% vacant. -
United States Department of the Interior Minerals Management Service
CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 1 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 10th OCS Oil and Gas Lease Sale 00087 DEC/QUAL : 09-OCT-1962 Term Date : 09-OCT-1962 Regns : G 11th OCS Oil and Gas Lease Sale Zone 3 00100 DEC/QUAL : 28-APR-1964 Term Date : 28-APR-1964 Regns : G 12th OCS Oil and Gas Sale Zone 2 00118 DEC/QUAL : 01-JAN-1947 Term Date : 14-OCT-1968 Regns : G 1400 CORP. 00622 DEC/QUAL : 10-DEC-1980 Term Date : 22-APR-1982 Regns : P 145 OG HOLDINGS, LLC 03267 4514 Cole Ave. DEC/QUAL : 07-NOV-2012 Suite 600 Term Date : Dallas, TX 75205 Regns : PAYG * * * * * * UNCLASSIFIED * * * * * * CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 2 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 157 OG Holdings, LLC 03271 4514 Cole Avenue DEC/QUAL : 21-DEC-2012 Suite 600 Term Date : Dallas, TX 75205 Regns : PAYG 1982 Drilling Program 00830 Box 6629 DEC/QUAL : 14-NOV-1983 San Antonio, TX 78209 Term Date : 19-JUL-1988 Regns : P 1986 STEA Limited Partnership I 01145 1221 Lamar, Suite 1600 DEC/QUAL : 19-JUN-1987 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G 1987-I STEA Limited Partnership 01253 1221 Lamar, Suite 1600 DEC/QUAL : 24-MAR-1988 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G 1987-VI STEA Limited Partnership 01252 1221 Lamar, Suite 1600 DEC/QUAL : 24-MAR-1988 Houston, TX 77010 Term Date : 19-SEP-1997 Regns : G * * * * * * UNCLASSIFIED * * * * * * CODETAIL UNITED STATES DEPARTMENT OF THE INTERIOR COMPANY MINERALS MANAGEMENT SERVICE 01-OCT-2021 PACIFIC OCS REGION PAGE: 3 Company Details Orders : COMPANY Companies: ALL Bonds : ALL 1988-I TEAI Limited Partnership 01470 c/o Torch Energy Assoc. -
Shell to Houston
n August 1969, Shell Oil Company tions prompted Shell to examine the idea The company’s Texas-sized move Iannounced plans to move most of its of moving much its operations to another took nearly a year beginning in November administrative offi ces from New York City city. During eighteen months of study aided 1969. Shell’s method of moving individual to Houston. “Shell to Move 1,000 Workers by the Stanford Research Institute, Shell offi ces only lost one working day at the Here” read the banner headline across the collected data on a half-dozen cities but end of each week. Each Thursday evening, front page of the Houston Chronicle the day eventually narrowed the list to two, Dallas equipment was loaded up in cross-country after the announcement. The fi nal number and Houston. Both cities had low costs- moving trucks. By the following Monday was closer to 1,400, and the success of the of-living, room for growth, and a Sunbelt afternoon, 1,620 miles away in Houston, move encouraged the company to consoli- ambience. And they were located in the the equipment was unloaded and arranged. date others parts of its operations in the city. Central Time Zone, making intra-company Employees reported for work Tuesday The move bolstered the Bayou City’s morning. Shell offered to transfer and emergence as a center of gravity for Shell. absorb moving costs for practically all Houston had been a Shell town for many operating headquarters personnel from top decades. It had a major refi nery in Deer Shell managers to fi le clerks and secretaries. -
'The Outstanding Building of the Year' Award!
The Newsletter for Pennzoil Place Tenants 1st & 2nd Quarter 2016 Issue Iconic Pennzoil Place Wins Local ‘The Outstanding Building of the Year’ Award! ennzoil Place is the proud winner of the 2015/2016 PHouston Building Owners and Managers Association (BOMA) The Outstanding Building of the Year (TOBY) Award in the Over One Million From The Manager The From Square Feet Category. Members of hat a great time the hard working Transwestern prop- for Pennzoil Place! erty management team received the For those that may prestigious award at the Houston TOBY W not know, in January we won Award dinner in January. Houston BOMA’s local TOBY (The Outstanding Building of Each year, the TOBY is awarded to the the Year) Award! This was only highest scoring building in each of possible through the efforts in 15 categories, beginning at the local tenant programs, community level. The categories consist of five team. Judges are introduced to the score of 85, Pennzoil Place easily outreach, energy reduction, square footage awards ranging from building’s energy efficient systems, received these coveted bonus points. and environmental initiatives, under 100,000 square feet to over tenant amenities, and environmentally with great success; along with a Congratulations to the Transwestern lot of work and help from many one million square feet, along with friendly features during the tour. Pennzoil Place management team vendors and our great Pennzoil categories for medical, corporate, Among other prerequisites, each for garnering the TOBY Award. The Place tenants! A special thanks historic, low-rise and mid-rise subur- competing building must bench- team worked hard to prepare for the goes out to all team members ban office park, government, reno- mark energy usage through the EPA competition while completing dai- who contributed to winning this vated, retail, industrial office park, and year’s TOBY Award and making ENERGY STAR® website. -
Houston's Office Market Weakens Over the Quarter and Braces Itself Moving
Research & Forecast Report HOUSTON | OFFICE Q1 2020 Houston’s office market weakens over the quarter and braces itself moving forward amid $20 oil Lisa Bridges Director of Market Research | Houston Commentary by Patrick Duffy MCR Market Indicators Annual Quarterly Quarterly Colliers generally uses this space to discuss the trends we see Relative to prior period Change Change Forecast* in market data and in conversations we have with our clients, prospects and friendly competitors. We take that data and attempt VACANCY to project activity going forward. The bulk of the first quarter was, NET ABSORPTION for all practical purposes, pre-COVID. Net “move-in” data, as well as new leases signed, were likely unimpacted for Q1 based on the DELIVERIES virus or only marginally impacted. Our industry has a lead time of UNDER CONSTRUCTION at least 4-6 months before a lease is signed or space made ready for occupancy. The real impact of this COVID crisis will not present *Projected in the data until later in Q2. Inertia will carry us for a few more weeks. The world is focused on the COVID driven economic slowdown. Houston has two issues to watch – COVID and a collapse in oil prices. The oil issue is driven by Saudi Arabia and Russia failing to reach an agreement on production and by the severe decline of oil and gas demand driven by the COVID shutdown. Oil has been Summary Statistics Houston Office Market Q1 2019 Q4 2019 Q1 2020 in the low 20’s since the collision of these two events. The Energy Information Administration is projecting that supply will continue to Vacancy Rate 19.4% 19.8% 20.0% outpace demand for the balance of this year by approximately 10MM barrels per day. -
Computrols-Corporate-Portfolio-US
Computrols Corporate Portfolio 826 Lafayette Street, New Orleans, Louisiana 70113 | Phone: 504.529.1413 | www.computrols.com Computrols U.S. Portfolio Overview JPMorgan Chase Tower The Statue of Liberty Five Post Oak Park Houston, Texas Liberty Island, New York Houston, Texas 9,500 points 1,000 Points 2,000 points 1.7 million square feet Computrols CBAS 567,396 square feet Computrols CBAS CSimon Fire Protection System Computrols CBAS CBAS-Web Accounting Module Wells Fargo Plaza Wachovia Financial Center One Shell Square Houston, Texas Miami, Florida New Orleans, Louisiana 5,000 points 3,000 points 9,000 points Computrols CBAS 1.15 million square feet 1.7 million square feet LCER32 Lighting Controller Computrols CBAS Computrols CBAS CBAS-Web Accounting Module CSimon Fire Protection System CBAS-Mobile 1 & 2 Greenway Plaza Seagram Building 1100 Louisiana Houston, Texas New York, New York Houston, Texas 10,000 points 5,000 points 1.3 million square feet Computrols CBAS 800,000 square feet Computrols CBAS CBAS-Web Accounting Module Computrols CBAS LCER32 Lighting Controller Pan American Life One Brickell Square 1400 Smith Street New Orleans, Louisiana Miami, Florida Houston, Texas 9,050 points 415,000 square feet 1.25 million square feet Computrols CBAS Computrols CBAS Computrols CBAS CSimon Fire Protection System CBAS-Mobile Access Control Access Control San Felipe Plaza Houston, Texas 4,000 points Computrols CBAS CBAS-Mobile Access Control Computrols Incorporated | 826 Lafayette Street, New Orleans, LA 70113 | Phone: 504.529.1413 | www.computrols.com © Copyright 2009 by Computrols Incorporated. All rights reserved. Computrols, and Computrols C, are registred trademarks of Computrols, Inc.