Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Following JPMorgan Chase’s space consolidation in the Downtown building bearing its name, plans continue firming up for tenants who will take the close to 300,000 sf vacated by early 2007. Hines Interests of Houston, which manages the building for local owner Prime Asset Management, recently disclosed that law firm Winstead, Sechrest & Minick PC will take approximately 100,000 sf of the space in a relocation, with others tenant signings to follow, as reported by GlobeSt.com.

According to Ronnie Martin, senior director of leasing with Hines Interests, Winstead signed a 10-year lease in the 1.98-million-sf high rise at 600 Travis St., which will commence Nov. 1, 2007. “Construction on the space will start Feb. 1, and they’ll move in the following November,” Martin adds. Winstead’s current office is at 919 Milam St.

While Martin couldn’t release specific details of the Winstead deal, he tells GlobeSt.com Hines is quoting net rental rates of between $15 and $17 per sf, plus operating expenses. Build-out costs for the Winstead deal were not available.

In addition to the 100,000 sf accounted for by Winstead, the remaining 200,000 sf is still on the block. But Martin isn’t worried about filling the remaining space, pointing to a strong owner’s market which has created strong interest in the class A tower.

“We have a couple of things in the works, but can’t make any announcements about it right now,” he says. “Within the next 60 days, though, we should have some more deals signed.”

According to a previously released statement, Hines began opening discussions with existing and prospective tenants when JPMorgan Chase disclosed in 2005 that its Bank One acquisition would mean space consolidation in the Houston area. Effective Jan. 1, 2007, Chase will reduce its position in the JPMorgan Chase Tower to its already existing 5,000-sf banking lobby.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.