{"id":1004674561,"date":"2023-08-02T04:46:55","date_gmt":"2023-08-02T12:46:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004674561"},"modified":"2023-08-02T04:48:00","modified_gmt":"2023-08-02T12:48:00","slug":"aew-capital-inks-lease-renewal-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aew-capital-inks-lease-renewal-in-houston\/","title":{"rendered":"AEW Capital Inks Lease Renewal in Houston"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"7256\" height=\"5447\" alt=\"Heritage Plaza's exterior entrance. All image credits of Peter Molick, courtesy of Brookfield Properties\" class=\"wp-block-jetpack-slideshow_image wp-image-1004674566\" data-id=\"1004674566\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/1-Heritage-Plaza-Exterior-Entrance-e1690966274387.jpg?w=1024\"\/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Heritage Plaza&#8217;s exterior entrance. All images by Peter Molick, courtesy of Brookfield Properties<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"8245\" height=\"5484\" alt=\"Heritage Plaza's main lobby area\" class=\"wp-block-jetpack-slideshow_image wp-image-1004674567\" data-id=\"1004674567\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg 8245w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?resize=1024,681 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?resize=1536,1022 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/2-Heritage-Plaza-Main-Lobby.jpg?resize=2048,1362 2048w\" sizes=\"(max-width: 8245px) 100vw, 8245px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Heritage Plaza&#8217;s main lobby area<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"8247\" height=\"5473\" alt=\"Heritage Plaza's conference space\" class=\"wp-block-jetpack-slideshow_image wp-image-1004674568\" data-id=\"1004674568\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg 8247w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?resize=768,510 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?resize=1024,680 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?resize=1536,1019 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/5-Heritage-Plaza-Conferencing-Space.jpg?resize=2048,1359 2048w\" sizes=\"(max-width: 8247px) 100vw, 8247px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Heritage Plaza&#8217;s conference space<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"8219\" height=\"5464\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004674570\" data-id=\"1004674570\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg 8219w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?resize=1024,681 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?resize=1536,1021 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/6-Heritage-Plaza-Outdoor-Sky-Deck.jpg?resize=2048,1362 2048w\" sizes=\"(max-width: 8219px) 100vw, 8219px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Outdoor sky deck at Heritage Plaza<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"8039\" height=\"5358\" alt=\"Heritage Plaza's exterior entrance\" class=\"wp-block-jetpack-slideshow_image wp-image-1004674571\" data-id=\"1004674571\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg 8039w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?resize=1536,1024 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/7-Heritage-Plaza-Sky-Lobby.jpg?resize=2048,1365 2048w\" sizes=\"(max-width: 8039px) 100vw, 8039px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Sky lobby at Heritage Plaza<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p>Private equity firm <strong>Lime Rock Management<\/strong> has signed a 57,000-square-foot lease renewal at Heritage Plaza, a Class A+ office tower in downtown Houston. <strong>AEW Capital Management<\/strong> is the majority owner of the 1.1 million-square-foot building.<\/p>\n<p>AEW purchased a 90 percent interest in the asset from <strong>Brookfield Properties<\/strong> in 2014, according to CommercialEdge. Brookfield maintained its ownership stake and is the property manager and leasing agent of the building.<\/p>\n<p>Lime Rock Management will continue its tenancy, that started in 2005, and will use the space to house three of its divisions. <strong>CBRE<\/strong> negotiated on behalf of the tenant, while Brookfield handled the lease renewal in-house. The current tenant roster at the property includes Kroll, Societe Generale, Blackstone, Deloitte and EOG Resources, that <a href=\"https:\/\/www.commercialsearch.com\/news\/aew-capital-management-inks-357-ksf-renewal\/\">extended its lease<\/a> to 375,000 square feet in September 2022.<\/p>\n<h2>A recent capital improvement plan<\/h2>\n<p>Built in 1986, the 52-story high-rise at 1111 Bagby St. features 27,932-square-foot floor plates, 28 passenger elevators and a multi-level parking structure with 2,655 parking spots, CommercialEdge shows.<\/p>\n<p>In 2021, the property underwent a capital improvement plan, designed by Kirksey Architecture. The renovation resulted in a new conference center, a 10,000-square-foot fitness center with locker rooms, an upgraded glass exterior curtain wall and an exterior plaza with seating.<\/p>\n<p>Rising on an approximately 1.5-acre lot, the office building is close to Interstate 45, while being 2.3 miles from East downtown Houston, 13 miles from Southwest Houston and within 20 miles of George Bush Intercontinental Airport.<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-will-office-space-values-fare-in-2030\/\">How Will Office Space Values Fare in 2030?<\/a><\/p>\n<hr \/>\n<p>CBRE\u2019s Vice Chairman Kevin Kushner and Senior Vice President William Padon represented the tenant in the lease negotiations. Vice Presidents Tyler Merritt and William Holliday of Brookfield Properties represented the landlord.<\/p>\n<p>Other recent office leases in the metro included Gulf Cos.&#8217; <a href=\"https:\/\/www.commercialsearch.com\/news\/gulf-cos-relocates-houston-hq\/\">52,148-square-foot commitment<\/a> at Eldridge Oaks, Broadshore Capital Partners&#8217; LEED Gold-certified building. Additionally, coworking provider Industrious <a href=\"https:\/\/www.commercialsearch.com\/news\/industrious-expands-houston-footprint\/\">expanded its Houston footprint<\/a> with a new, 23,489-square-foot location also in Downtown.<\/p>","protected":false},"excerpt":{"rendered":"<p>Brookfield Properties is the manager of the 52-story downtown Houston tower.<\/p>\n","protected":false},"author":2991,"featured_media":1004674566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1589,21742,21747,51973],"tags":[33758,33497,32789],"class_list":["post-1004674561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-houston","category-latest","category-office","category-southwest","tag-aew-capital-management","tag-brookfield-properties","tag-cbre"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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