Major Lease Transactions Downtown Houston
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The Espersonespersonesperson 808 Travis Street & 815 Walker Avenue • Houston, Texas
THETHETHE ESPERSONESPERSONESPERSON 808 TRAVIS STREET & 815 WALKER AVENUE • HOUSTON, TEXAS EXECUTIVE SUMMARY THETHETHE ESPERSONESPERSONESPERSON 808 TRAVIS STREET & 815 WALKER AVENUE • HOUSTON, TEXAS HFF, as the exclusive representative of the owner, is pleased to offer for sale a 100% fee simple interest in Esperson (the “Property”), a 19 and 27-story, 599,107 square foot office building located in Houston’s central business district. Constructed in 1927 and 1941 respectively, Esperson is the only iconic structure of Italian Renaissance in Houston’s most densified employment center. The property is currently 62% leased with 4 years remaining average lease term and is situated on 1.447 acres, a full city block. Located at the intersection of Rusk and Walker Street, Esperson has direct access to Houston’s METRO Rail and 7.5 mile underground tunnel system. Over the last 36 months, ownership invested nearly $9 million in non-leasing capital, positioning the asset at the top of its competitive set. Today, considerable value creation is achievable through rolling current in-place rents to market and through the lease up of the remaining 226,561 square feet of vacant space. Redeveloping and expanding Houston’s CBD infrastructure – realized through rebuilt streets – highways, new mass transit and enhanced public utilities coupled with new office, multi-family, and retail projects have transformed Houston’s core into a vibrant, modern 24/7 environment for people to live, work and play. Esperson offers investors prestige, history, quality, abundant amenities, and a prime location in Houston’s largest employment center. INVESTMENT SALES H. DAN MILLER, CCIM, SIOR Senior Managing Director Tel: (713) 852-3576 [email protected] MARTIN T. -
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. -
Availabilities
AVAILABILITIES SOUTH TOWER NORTH TOWER 711 LOUISIANA 700 MILAM FLOOR 32 - 16,605 RSF FLOOR 29 - 21,382 RSF FLOOR 26 - 21,382 RSF FLOOR 21 - 10,715 RSF FLOOR 19 - 7,707 RSF FLOOR 17 - 4,890 RSF FLOOR 16 - 3,890 RSF FLOOR 14 - 8,348 RSF FLOOR 11 - 10,614 RSF FLOOR 12 - 20,407 RSF FLOOR 10 - 20,346 RSF FLOOR 9 - 20,484 RSF FLOOR 11 - 20,407 RSF FLOOR 8 - 20,531 RSF FLOOR 10 - 9,375 RSF FLOOR 7 - 20,429 RSF FLOOR 9 - 20,407 RSF FLOOR 8 - 20,426 RSF FLOOR 7 - 20,442 RSF FLOOR 6 - 20,458 RSF FLOOR 2 - 20,520 RSF LOBBY - 4 Spaces TUNNEL - 3 Spaces SOUTH TOWER NORTH TOWER LARGEST CONTIGUOUS BLOCK LARGEST CONTIGUOUS BLOCK FLOORS 7-10, Pt. 11: 92,404 RSF FLOORS 6-9, Pt. 10: 91,108 RSF PROPERTY FACTS Address 711 Louisianna (South Tower) | 700 Milam (North Tower) Building Class “A” office property, two (2) thirty-six (36) story towers, totaling 1,421,765 RSF Common Area Factor Approximately 15.0% (multi-tenant floors) / 9.0% (single-tenant floors) Floor Size Approximately 21,500 RSF Lease Rate Negotiable Operating Expenses Estimated 2016 Operating Expenses of $16.10 per rentable square foot Lease Term Negotiable Leasehold Improvement Allowance Negotiable Up to 0.3 spaces per 1,000 square feet leased parking available below the building comprised of 525 spaces. Unreserved $220.00 / Reserved $285.00, plus taxes Parking Up to 1.5 spaces per 1,000 square feet lease parking available in Walker @ Main Garage (tunnel access) comprised of 1,000 spaces. -
A Self-Guided Walking Tour of Downtown Houston's Buildings
Tunnel Geology: A Self-Guided Walking Tour of Downtown Houston’s Buildings (2019) TEAL LOOP – 1/8 MILE (~10 MIN) FROM TOTAL PLAZA TO ENTERPRISE PLAZA Flooring Granodiorite (grey intermediate intrusive igneous) Granodiorite (quartz 20-60% and plagioclase 65- 90%) with uniform small-medium grained crystals, weathering present in different tiles Accent Slate (dark grey-green low grade metamorphic) 1 Copyright © 2019 Red Shoes. Red Wine. www.redshoesredwine.com ENTERPRISE PLAZA – 1100 LOUISIANA Flooring/Walls Tufa (Travertine, continental sedimentary) Travertino Romano (trade) from Tivoli near Rome in Italy Also known as Romano Classico or Travertine Classico and Travertino Romano Antico (darker varieties) Walls and flooring all travertine Tufa/Travertine: formed by algae/calcium carbonate in hot springs, phytoherms (freshwater reefs) and thrombolite-stromatolites; not to be confused with tuff/tufo (igneous) Tunnel Geology: A Self-Guided Walking Tour of Downtown Houston’s Buildings (2019) 2 TEAL LOOP – 1/8 MILE (~10 MIN) Observed: stromatolite patterns/precipitation growth dominant feature, some vugs partially to fully filled with more transparent cement ONE ALLEN CENTER – 500 DALLAS Flooring/Walls Fossiliferous Limestone (light tan sedimentary) Observed: gastropod fossilsand others unidentified Accents Marble (brown metamorphic) “Dirty” marble with fractures and calcite veins Marble veins: due to various mineral impurities such as clay, silt, sand Transition into Circular Court Best guess: Diabase/Gabbro (dark grey-black mafic intrusive igneous) -
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 2020 EP Energy Relocation/Sublease 601 Travis 1001 Louisiana 62,261 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) 2020 Indigo Minerals Renewal 600 Travis 45,125 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) 2020 Riviera Resources Relocation 717 Texas 600 Travis 27,114 One Allen Center 2020 TPC Group Renewal 24,803 (500 Dallas) Source: Central Houston, Inc. Updated 09-30--2020. 1 Year Company Type To From Square Feet 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 2020 Momentum Midstream Renewal 600 Travis 22,575 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 2020 Enbridge, Inc. -
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. -
CITY of HOUSTON Archaeological & Historical Commission Planning and Development Department
CITY OF HOUSTON Archaeological & Historical Commission Planning and Development Department PROTECTED LANDMARK DESIGNATION REPORT LANDMARK NAME: Mr. and Mrs. S.I. Morris House AGENDA ITEM: D.1 OWNER: S.I. Morris Interests, Ltd. HPO FILE NO.: 15PL124 APPLICANT: David K. Morris DATE ACCEPTED: Apr-15-2015 LOCATION: 2 Waverly Court – Museum District HAHC HEARING DATE: May-21-2015 SITE INFORMATION Lot 2, Waverly Court, City of Houston, Harris County, Texas. The site includes a historic two-story, contemporary style single-family residence facing west on Waverly Court at the corner of Bissonnet Street. TYPE OF APPROVAL REQUESTED: Protected Landmark Designation HISTORY AND SIGNIFICANCE SUMMARY The Mr. and Mrs. S.I. Morris House is a contemporary residence at 2 Waverly Court in the Museum District south of downtown Houston. The house was designed by prominent Houston architect Seth Irwin “S.I.” Morris, Jr. (1914-2006) and completed in 1952 as his family’s home. Morris’ firms – Wilson, Morris & Crain, AIA; Wilson, Morris, Crain & Anderson, AIA; S.I. Morris Associates; Morris*Aubry Architects and Morris Architects – left a timeless imprint on Houston through their crucial roles in creating such treasured landmarks as the Astrodome (1965), Pennzoil Place (1976), Transco (now Williams) Tower (1983) and Gus S. Wortham Theater Center (1987), among many others. In Building A Houston Practice: The Career of S.I. Morris, Barry Moore notes that Morris insisted the only building he had ever personally designed was the house built at the corner of Waverly Court and Bissonnet in the 1950s. That house remains in the Morris family and is home to the architect’s widow, Mrs. -
DOWNTOWN the OAKS Hobby Airport 24 M I N
THE WOODLANDS KINGWOOD TOMBALL SPRING ATSCOCITA 290 HUMBLE LOCATION WILLOWBROOK 59 CYPRESS 90 6 The Heights 15 min. IAH 99 River Oaks 17 min. 45 West University Place 14 min. Memorial 23 min. 290 59 90 The Galleria 16 min. THE Tanglewood 17 min. HEIGHTS 10 KATY MEMORIAL 10 The Medical Center 19 min. 610 TANGLEWOOD RIVER DOWNTOWN THE OAKS Hobby Airport 24 m i n . GALLERIA WEST George Bush Intercontinental UNIVERSITY 27 m i n. THE Airport (IAH) PLACE MEDICAL PORT OF CENTER HOUSTON 610 Sugar Land 27 m i n. 59 Port of Houston 40 min. Trinity Bay 99 Baybrook 32 min. HOBBY AIRPORT 90 Katy 37 min. 45 Cypress 35 min. Galveston Bay 288 SUGAR LAND BAYBROOK The Woodlands 36 min. 59 6 PEARLAND Kingwood 38 min. 65,720 150,000 22 residents currently live employees work Hotels downtown downtown (2 mile radius) 11 2,936 220,000 million people attend downtown Houston new residential units people visit downtown culture and entertainment planned or under on a daily basis attractions annually construction 1.2 million 7, 300 1,500 43.7 million 1.5 million people stay in downtown hotel rooms new hotel rooms SF of existing SF of office under Houston hotels annually under construction office space construction MAJOR EMPLOYERS Franklin Franklin Lofts? Old Cotton Islamic Hermann The Corinthian Harris Exchange Dawah Center Harris Lofts County County Family Law Harris Garage Center County Foley Sally’s Hotel Icon Congress Plaza Civil Courthouse George Bush Building (Jury Assembly) House Monument Congress Market Market 1414 Square Congress Garage Square Houston Hamilton Street Sesquicentennial Harris County Ballet Park Residences Majestic 1910 Courthouse Harris County Park Metro Harris County Juvenile Justice Admin. -
Houston Skyline Future Available Retail Parking, Other Use
The Skyline market for Houston is defined as the Trophy market, which is further Occupied Direct vacant Sublease vacant defined as top-tier Class A product that is non-owner occupied, larger than 500,000 square feet, and located in a centralized core Houston location. Houston Skyline Future available Retail Parking, other use 80 70 60 50 40 30 20 10 Bank of Pennzoil BG Group Heritage One Allen Two Allen Three Allen One Shell Wells Fargo 1100 LyondellBasell 2 Houston Fulbright 5 Houston Pennzoil Place JP Morgan Place Plaza Center Center Center 1600 Smith 1001 Fannin America Plaza Plaza Louisiana 609 Main 1000 Main Tower Center Tower Center Place North South Chase 717 Texas Total Plaza Capitol Tower Center Tower Tower RBA (s.f.) 972,474 1,212,895 993,297 995,623 1,194,719 1,098,399 1,385,212 1,268,480 1,228,923 1,721,242 1,327,882 1,056,658 837,161 1,061,351 1,024,956 1,247,061 580,875 679,337 664,940 1,656,529 696,228 843,533 778,344 Percent leased 93.0% 99.0% 90.8% 90.9% 96.7% 85.2% 97.8% 92.5% 98.4% 87.4% 99.2% 50.9% 99.7% 95.1% 52.6% 90.3% 75.1% 64.4% 80.1% 93.6% 48.9% 74.0% 27.0% Year built/ renovated 2011 1986 1972/1992 1977/1992 1980 1984 1981/2005 1983/2001 1970/2012 1983 1980 2017 2003 1978/1996 1974/1996 1982/1999 2002 1975 1975 1982/2012 2003 1971/1999 2019 Skyline analysis Total vacancy (%) vs. -
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 -
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. -
Agenda & Packet
LOUIS R. RIGBY CHUCK ENGELKEN Mayor Councilmember District 2 JOHN ZEMANEK DARYL LEONARD Councilmember At Large A Councilmember District 3 DOTTIE KAMINSKI KRISTIN MARTIN Councilmember At Large B Councilmember District 4 DANNY EARP JAY MARTIN Mayor Pro-Tem Councilmember District 5 Councilmember District 1 MIKE CLAUSEN Councilmember District 6 CITY COUNCIL MEETING AGENDA Notice is hereby given of a Regular Meeting of the La Porte City Council to be held October 24, 2016, beginning at 6:00 PM in the City Hall Council Chambers, 604 W. Fairmont Parkway, La Porte, Texas, for the purpose of considering the following agenda items. All agenda items are subject to action. 1. CALL TO ORDER 2. INVOCATION – The invocation will be given by Windell Gill, First Baptist Church. 3. PLEDGE OF ALLEGIANCE – The Pledge of Allegiance will be led by Councilmember Jay Martin. 4. PRESENTATIONS, PROCLAMATIONS, and RECOGNITIONS (a) Proclamation - Municipal Court Week - Mayor Rigby (b) Recognition - The City of La Porte 2016 Achievement of Excellence in Procurement Award - Mayor Rigby (c) Recognition - The City of La Porte Government Finance Officers Association Distinguished Budget Presentation Award for Fiscal Year 2015 - Mayor Rigby (d) Recognition - The City of La Porte Certificate of Achievement for excellence in Financial Reporting for Fiscal Year 2015 - Mayor Rigby (e) Recognition - City of La Porte Outstanding Achievement in Popular Annual Financial Reporting for Fiscal Year 2015 - Mayor Rigby (f) Recognition - City of La Porte Traditional Finance Star and the Contract and Procurement Star - Mayor Rigby 5. PUBLIC COMMENTS (Limited to five minutes per person.) 6. CONSENT AGENDA (All consent agenda items are considered routine by City Council and will beenacted by one motion.