Skanska Lands 140 KSF Houston Agreement
A law firm renewed and expanded its commitment at the downtown building.
Global law firm Norton Rose Fulbright has renewed and expanded its headquarters commitment at Norton Rose Fulbright Tower in Houston to 139,000 square feet. Skanska owns the 382,000-square-foot high-rise.
The tenant relocated to the 28-story tower in June last year, occupying floors 20 through 26. After the new agreement, the company will occupy an additional floor totaling 21,000 square feet. Rottet Studio will design the space, with a focus on wellness, sustainability and employee experience, as this expansion continues the trend of integrating features common to a creative office environment.
The deal brings the tower to about 70 percent leased. Earlier this month, the energy infrastructure company Third Coast Infrastructure signed a 20,800-square-foot lease at the building.
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Located at 1550 Lamar St., the LEED Platinum-certified high-rise is within the city’s central business district and close to the Discovery Green park and Shell Energy Stadium. George Bush Intercontinental Airport is 20 miles northeast.
Skanska broke ground on the tower in 2021 and topped it out in 2023. The building is part of a three-block master plan project designed by BIG-Bjarke Ingels Group and features floorplates ranging between 16,656 and 26,705 square feet and offers 541 car parking spots. Amenities include terraces and public spaces, rooftop event space and a fitness center, among others.
Houston’s recovering office vacancy rate
Houston’s office vacancy rate at the end of September clocked in at 20.2 percent, marking a 500-basis-point decrease over a 12-month period, according to the latest Yardi Matrix office report. The market posted the largest annual recovery among the top metros. However, it still surpassed the 18.6 percent national threshold.
In the first quarter of this year, energy company Plains Marketing extended its commitment of 259,774 square feet at Allen Center in Houston. Brookfield Properties owns the 1.2 million-square-foot campus.
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