JMB Realty Secures 158 KSF in Houston Office Leases
Two long-term tenants renewed their commitments at 1001 Fannin.
Chord Energy and Black Stone Minerals have renewed their leases totaling 158,487 square feet at 1001 Fannin in Houston. Cushman & Wakefield brokered the negotiations which included Chord’s 55,082-square-foot and Black Stone Mineral’s 103,405-square-foot renewals.
Cushman & Wakefield’s Chip Colvill and Brad Beasley arranged the agreements on behalf of JMB Realty Corp., the owner, while Chris Oliver and David Guion represented Black Stone and Chad Beck represented Chord Energy. According to a prepared statement from Colvill, Chord Energy has been a tenant at 1001 Fannin for 16 years, while Black Stone has been a tenant for more than three decades.
The 47-story tower came online in 1980, with Morris-Aubry as main architect and W.S. Bellows Construction as general contractor. In 2014, the 1001 Fannin building became subject to a $275 million loan held by TIAA, according to CommercialEdge data.
The Class A building comprises more than 1.3 million square feet of office space, 25,000 square feet of retail and amenity space, around 26,000 square feet of storage and a 10-level parking garage.
A $15 million renovation
Previously known as First City Tower, the building is registered with the U.S. Green Building Council and achieved LEED Gold Certification, as well as the BOMA 360 designation and the Energy Star label. In 2005, the property underwent a $15 million renovation, which included the revitalization of the lobby and tunnel levels, the addition of a coffee shop, tenant lounge areas, a new fitness center and a new outdoor tenant plaza.
The office building is located in Houston’s central business district and occupies a full city block bounded by Fannin, San Jacinto, Lamar and McKinney streets. Adjacent to the Houston Center Club, the property provides easy access to interstates 10, 46 and 69.
