Colvill to Handle Leasing, Marketing of Hines Portfolio
HOUSTON-Locally based Hines has selected Colvill Office Properties to direct leasing and marketing activities for its owned or managed portfolio of 15 buildings. Through this agreement Colvill, which also headquartered in Houston, will oversee 12 million square feet of class A office properties throughout Houston and Dallas.
The assignment will commence Jan. 1, 2013. At that time, Colvill plans to add seven of Hines' local leasing team members to the company. Hines senior managing director Clark Davis will oversee the Hines/Colvill relationship.
"The addition of Hines' office properties will allow our firm to expand our business and our team with highly experienced leasing talent," says Chip Colvill, president, Colvill Office Properties in a prepared statement. "We welcome their in-depth knowledge and extensive industry contacts that will broaden opportunities for all of the properties that we represent."
The Houston portfolio consists of:
- 601 Travis
- 717 Texas
- 1100 Louisiana
- 2707 and 2727 North Loop West
- BG Group Place
- JPMorgan Chase Tower
- Greenspoint Plaza
- One and Two Shell Plaza
- Williams Tower
Meanwhile, in Dallas, Colvill will be responsible for leasing activities at properties including Chase Tower and The Plaza at Legacy.
"Colvill Office Properties is the best-in-class landlord representative for class A office buildings in these markets," says Mark Cover, senior managing director and chief executive officer of Hines' Southwest Region in a press release. "Outsourcing leasing responsibilities to Colvill Office Properties is a strategic move that will benefit our investors and clients. With Colvill's proven leasing strength, Hines can focus fully on our core business of development, property management and investment. We will also use the strategic partnership as a selling point to continue growing our third-party property management business."
Prior to the Hines assignment, Colvill directed leasing and marketing of an eight-million-square-foot class A portfolio in the Houston market. With an expanded total of 20 million square feet in leasing assignments, Colvill will be the largest class A office leasing agent in Texas.
Start each day with GlobeSt.com's National AM Alert for original coverage of the latest transactions and trends shaping the commercial real estate industry. Sign Up Today!
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.