Hines, Ivanhoé Cambridge Top Out Texas Tower
- Mar 23, 2021
Joint venture partners Hines and Ivanhoé Cambridge have topped out Texas Tower, a 47-story, 1.1 million square-foot Class AA office tower in downtown Houston. Currently the city’s largest office project under construction, the structure reached the milestone several weeks ahead of schedule. The tower is expected be completed in the fourth quarter of 2021.
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Construction of the Pelli Clarke Pelli-designed skyscraper commenced in 2018. The following year, the project earned LEED Platinum Pre-certification under the v4 for Core & Shell Rating System. The energy-efficient development also aligns with WiredScore and WELL Building Standards.
Once completed, the building will house Hines’ headquarters, slated to take up some 180,000 square feet. The tower is currently 40 percent leased to a variety of tenants, including global law firms Vinson & Elkins LLP and DLA Piper. The latter committed to a 31,000-square-foot, 14-year lease in early 2020.
Rising to high standards
Situated at 845 Texas Ave., the site is well-located between the Central Business District, the Theater District and the Historic District. Last January, Hines renamed 600 Travis St., the tallest building in Texas spanning 75 stories and 1.7 million square feet, and situated just adjacent to Texas Tower. The supertall structure is now known as JPMorgan Chase Tower, after its anchor tenant signed a 250,000-square-foot lease at the location in mid-2020. The high-rise was originally developed by Hines in the 1980s. The company later sold and then reacquired the property in 2019, with partner Cerberus Capital in a $627 million transaction.
Amenities at Texas Tower will include multiple food and beverage options, a full-service conference center, a fitness center, as well as a public garden on the 12th floor. The building offers 30,000-square-foot floorplates and 10-foot floor-to-ceiling windows. A high-performance underfloor HVAC system will allow for occupant-personalized climate control.