{"id":1004205860,"date":"2018-02-05T04:22:39","date_gmt":"2018-02-05T12:22:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205860"},"modified":"2022-12-08T16:06:01","modified_gmt":"2022-12-09T00:06:01","slug":"transwestern-lands-leasing-deal-for-4-2-msf-houston-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-lands-leasing-deal-for-4-2-msf-houston-center\/","title":{"rendered":"Transwestern Lands Leasing Deal for 4.2 MSF Houston Center"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Houston<\/a>

Houston Center<\/p><\/div>\n

Transwestern just landed a whale of a contract in Houston. On the heels of acquiring Houston Center<\/a> in an $875 million transaction, Brookfield Property Parners has selected the commercial real estate services firm to spearhead leasing at the 4.2 million-square-foot office and retail complex in Houston\u2019s central business district.<\/p>\n

At the hands of its new owner, Houston Center is being subjected to a comprehensive upgrade, giving Transwestern good material to work with as it takes on its new assignment. \u201cOnce renovations at the development are complete, Houston Center will have the most amenity-rich office environment in the Central Business District and will be the premier location to attract and retain employees<\/em>,\u201d David Baker, an executive vice president with Transwestern, said in a prepared statement.<\/p>\n

Located on a fully amenitized site spanning 6.5 blocks, Houston Center is a multi-structure, mixed-use development. The property\u2019s office segment consists of the 1.2 million-square-foot Fulbright Tower; LyondellBasell Tower, which offers 1.1 million square feet; the 1 million-square-foot 2 Houston Center; and the smallest of the office buildings, 4 Houston Center, which features 674,000 square feet. Completing the campus is the retail segment, The Shops at Houston Center, encompassing 196,000 square feet.<\/p>\n

Transwestern will have its hands full, as the nine-acre Houston Center is the largest property in the city\u2019s CBD. Furthermore, the complex was just 71.6 percent leased when it changed hands in December 2017.<\/p>\n

Recovery in sight<\/strong><\/h2>\n

The impact of the energy downturn and 2017\u2019s Hurricane Harvey have taken a notable toll on the Houston office market. However, there\u2019s light at the end of the tunnel.\u00a0 One of the positive signs, according to a Transwestern report, is the fact that the fourth quarter of 2017 marked the second consecutive quarter of a decrease in total availability.<\/p>\n

\u201cAfter suffering through the worst of the effects of the energy downturn, the Houston office market appears poised to begin a tangible recovery in 2018 as WTI [crude oil] prices have settled over $60 per barrel, more favorable corporate tax rates are set to kick in and a strong national economy has consumer confidence near 20-year highs,\u201d<\/em> per the Transwestern report.<\/p>\n

\u00a0Image courtesy of Mabry Campbell<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The commercial real estate services firm has scored a whale of a contract at the sprawling mixed-use office campus in the city\u2019s CBD, working on behalf of Brookfield Property Partners, the asset\u2019s new owner.<\/p>\n","protected":false},"author":969,"featured_media":1004205874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,1589,21752,21742,21747],"tags":[33091,33313],"class_list":["post-1004205860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-houston","category-mixed-use","category-latest","category-office","tag-brookfield-property-partners","tag-transwestern"],"acf":[],"yoast_head":"\nTranswestern Lands Leasing Deal for 4.2 MSF Houston Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-lands-leasing-deal-for-4-2-msf-houston-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transwestern Lands Leasing Deal for 4.2 MSF Houston Center\" \/>\n<meta property=\"og:description\" content=\"The commercial real estate services firm has scored a whale of a contract at the sprawling mixed-use office campus in the city\u2019s CBD, working on behalf of Brookfield Property Partners, the asset\u2019s new owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/transwestern-lands-leasing-deal-for-4-2-msf-houston-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-05T12:22:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:06:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Houston-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-lands-leasing-deal-for-4-2-msf-houston-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/transwestern-lands-leasing-deal-for-4-2-msf-houston-center\/\",\"name\":\"Transwestern Lands Leasing Deal for 4.2 MSF Houston Center - 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