By Barbra Murray, Contributing Editor
Multi-billion-dollar real estate investor Hines adds to its property management portfolio with a new assignment. The company has been commissioned by Wedge Commercial Properties to manage 1415 Louisiana, a 520,000-square-foot skyscraper in its hometown of Houston.
Sited in Houston’s central business district, 1415 Louisiana first opened its doors in 1983 and came under Wedge’s ownership in 1994. Today, the 43-story building, formerly known as Wedge International Tower, is home to the likes of Eagle Rock Energy Partners and Sabine Oil & Gas Corp. and serves as Wedge’s headquarters as well.
Hines, which oversees an approximately 176 million-square-foot collection of properties, is a master at management and is hitting the ground running at 1415 Louisiana.
“The owner of 1415 Louisiana has truly committed to investing in this building and making it a quality product. They have already initiated and we are assisting with a full lobby and common area renovation. In addition to that, we are going to repair or replace all the mechanical systems in the building,” Adam Rose, director of property management with Hines, told Commercial Property Executive.
Leasing at 1415 will be spearheaded by Colvill Office Properties, a firm Hines recruited in 2012 to handle marketing for its owned and managed properties in Houston and Dallas.