HOUSTON – (Realty News Report) – Two energy companies have renewed their leases at the tallest office tower in Texas, the 75-story 600 Travis building, which is currently undergoing a major redesign of its ground-floor and public spaces.
Designed by I.M. Pei, the 1.7-million-square-foot office tower, also known as the JPMorgan Chase Tower, is owned by Hines in partnership with an affiliate of Cerberus Capital Management, L.P.
The two lease renewals — by Indigo Natural Resources and Momentum Midstream — follow a recently announced 250,000-square-foot lease reportedly signed by JPMorgan Chase.
“Building on the momentum from our recent announcement of a new 250,000-square-foot lease with a global financial services firm, these two additional lease renewals show that Houston companies remain committed to providing safe, healthy and best-in-class office environments for their employees,” said John Mooz, senior managing director at Hines. “Aligned with the transformational redesign, we are incorporating new interior and exterior elements, including revitalized public spaces, park-like landscaping and increased transparency to create a more collaborative urban experience.”
Hines plans significant renovations to the building’s ground plane, which sits adjacent to Houston’s Theater District. The tower’s plaza will be reimagined as an urban garden with expanded green space and stronger connections between the outdoors and the building. Designed by HOK, the new lobby will include a glass pyramid entry to open the arrival experience and bring in abundant natural light.
The Leases
The two executed renewals include a 45,125-square-foot extension for Indigo Natural Resources LLC and a 22,575-square-foot extension for Momentum Midstream. Together, both tenants occupy space on floors 55–57 of the tower.
Mark Russell of Newmark Knight Frank represented Indigo Natural Resources and Momentum Midstream in both lease transactions. Michael Anderson, Diana Bridger, Margaret Elkins and Brad Beasley of Cushman & Wakefield represented the building owners, Hines and Cerberus.
The office tower, located on a downtown block bounded by Texas, Travis, Capitol and Milam streets, serves as headquarters space for both Indigo and Momentum Midstream.
Indigo Natural Resources is a natural gas producer active in regions including the Haynesville Shale, the Bossier Shale and the Holly Vaughn formations in Louisiana. Momentum Midstream operates as a pipeline and midstream services provider, offering central delivery points, wellhead gathering, gas processing and treating, compression and related services to oil and gas producers.
Hines is a privately held global real estate investment, development and management firm founded in 1957 by Gerald D. Hines. The firm has projects under construction in downtown Houston and maintains a presence in more than 200 cities across 24 countries, with approximately $133.3 billion of assets under management.
JPMorgan Chase and Hines have not publicly confirmed the 250,000-square-foot lease reported earlier this year. Realty News Report identified JPMorgan as the tenant in an exclusive article published previously.
In a related note, Realty News Report later reported that 1111 Fannin, a 17-story building where JPMorgan Chase is the sole occupant, was being marketed for sale by brokers Danny Miller and Marty Hogan of JLL Capital Markets.
Sept. 2, 2020 Realty News Report Copyright 2020
File: Energy Firms Lease Space
Rendering – Courtesy Hines
File: (2) Downtown Houston. Hines. 600 Travis. Energy firms lease space 9-2-20