{"id":1004750594,"date":"2025-03-14T03:58:18","date_gmt":"2025-03-14T11:58:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004750594"},"modified":"2025-03-14T06:46:08","modified_gmt":"2025-03-14T14:46:08","slug":"hines-ivanhoe-land-52-ksf-tenant-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-52-ksf-tenant-in-houston\/","title":{"rendered":"Hines, Ivanho\u00e9 Sign Houston Office Tenant"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004750595\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-52-ksf-tenant-in-houston\/texas-tower-5\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Texas Tower\" data-image-description=\"&lt;p&gt;Image from CommercialEdge&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;A global law firm signed a long-term lease at Texas Tower, a 1 million-square-foot building in Houston. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg\" alt=\"Exterior shot of Texas Tower, a 47-story office building with glass exterior.\" class=\"wp-image-1004750595\" style=\"width:auto;height:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Texas-Tower.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Texas Tower came online in 2021 and features a conference center, coworking area and multiple outdoor terraces.<em> Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Global law firm Skadden, Arps, Slate, Meagher &amp; Flom LLP has signed a long-term, 52,000-square-foot lease at Texas Tower, a 1 million-square-foot office building in Houston. The company will move into the two-floor space starting April 2026.<\/p>\n\n\n\n<p>Savills brokered the deal on behalf of the tenant, while Cushman &amp; Wakefield represented the owner, a joint venture between Hines and Ivanho\u00e9 Cambridge.<\/p>\n\n\n\n<p>This agreement brought the high-rise&#8217;s occupancy to 99 percent. Tenants at the building also include Morgan Stanley, Hines, Clifford Chance and DLA Piper, according to CommercialEdge information.<\/p>\n\n\n\n<p>Located at 845 Texas Ave., Texas Tower is within the metro\u2019s central business district and adjacent to the JPMorgan Chase Tower. George Bush Intercontinental Airport is 19 miles northeast.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/houston-office-figures-lag-behind-national-metrics\/\">Houston Office Figures Lag Behind National Metrics<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The owner completed the 47-story high-rise in 2021 using funds from a $317.6 million loan originated by New York Life Insurance Co. in 2018, CommercialEdge data shows.<\/p>\n\n\n\n<p>Last month, the joint venture refinanced the asset with <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-450m-refi-for-houston-trophy-tower\/\">a $450 million loan from Wells Fargo<\/a> and Morgan Stanley. It marked the first time in two years when a multi-tenant office tower outside New York City secured financing in the CMBS single-asset, single-borrower market.<\/p>\n\n\n\n<p>The Class A, transit-oriented building features floorplates ranging from 30,438 to 31,255 square feet. The tower is LEED Platinum certified and also has 15,000 square feet of retail space, a conference center, coworking area, tenant lounge and multiple outdoor terraces, as well as a fitness center and rooftop gardens.<\/p>\n\n\n\n<p>Savills President Mark O\u2019Donnell worked on behalf of the tenant. Cushman &amp; Wakefield Executive Managing Director Michael Anderson represented the ownership.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-houston-s-office-leasing-activity-remains-steady\">Houston\u2019s office leasing activity remains steady<\/h2>\n\n\n\n<p>Houston\u2019s office vacancy rate clocked in at 22.8 percent in January, 310 basis points higher than the national average, according to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-office-report-february-2025\/\">CommercialEdge office report<\/a>. The metro\u2019s average listing rate during the same month was $30.1, also below the $33.4 U.S. figure.<\/p>\n\n\n\n<p>Despite lagging behind national trends, leasing activity was somewhat steady. At the beginning of the year, energy company <a href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-lands-260-ksf-lease-renewal-at-houston-campus\/\">Plains Marketing LP extended<\/a> its 259,774-square-foot lease at Brookfield Properties\u2019 Allen Center office campus in Houston. The firm first committed to the space more than 30 years ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will occupy the space starting in 2026.<\/p>\n","protected":false},"author":3355,"featured_media":1004750596,"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":[32799,32797,33565,34107,42086],"class_list":["post-1004750594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-houston","category-latest","category-office","category-southwest","tag-cushman-wakefield","tag-hines","tag-ivanhoe-cambridge","tag-savills","tag-skadden-arps-slate-meagher-and-flom"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hines, Ivanho\u00e9 Sign Houston Office Tenant - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Skadden, Arps, Slate, Meagher &amp; 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