HOUSTON – Mitsubishi International Corporation has renewed its lease at LyondellBasell Tower, the 46-story office tower in downtown Houston.
The company signed a lease for 45,838 square feet across the 34th and 35th floors of the Class A building. As part of the renewal, Mitsubishi will undertake an interior renovation of the leased space, a project led by Houston-based Ziegler Cooper Architects and expected to be completed in April 2020.
Located at 1221 McKinney Street, LyondellBasell Tower is part of Houston Center, a major downtown office complex. Brookfield Properties, the tower’s owner, has been investing millions into upgrades across its downtown portfolio. These large-scale renovations reflect a broader trend as landlords modernize existing buildings to stay competitive with new office developments.
“Brookfield Properties exemplifies excellent customer service and we are proud to continue our long-term partnership with them,” said Shota Kondo, General Manager of MIC’s Houston branch. “Mitsubishi Corporation has a strong presence in Houston and as we continue to grow, choosing a high-caliber office space is of the utmost importance. Given the ongoing renovation at Houston Center, our renewal at LyondellBasell Tower is a vote of confidence in Brookfield Properties’ investment in the campus.”
Mitsubishi was represented in the lease negotiations by Tim Relyea and Brooke Wommack of Cushman & Wakefield. Brookfield Properties’ leasing team included Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern, along with Clint Bawcom and Tyler Merritt from Brookfield Properties.
“Mitsubishi International Corporation’s recommitment to Houston Center speaks volumes about Brookfield Properties’ capital investment and confidence in the downtown Houston market,” said Travis Overall, Executive Vice President of Brookfield Properties. “Upon completion, Houston Center will be a vibrant mixed-use destination for tenants and visitors alike.”
The 1,061,000-square-foot LyondellBasell Tower was completed in 1978.
In January 2019, Brookfield Properties announced a major redevelopment plan for Houston Center. The project includes a refreshed arrival experience on McKinney Street, a new central plaza and greenspace, a monumental stair connecting landscaped terraces, a two-story glass façade and re-clad skybridges designed to encourage street-level restaurant and retail activity. Construction began in February 2019 and is expected to be completed later this year.
Brookfield’s commitment to placemaking is also visible in ongoing renovations at Allen Center, Heritage Plaza and Total Plaza, enhancing public spaces and tenant amenities across its downtown holdings.
Jan. 27, 2020 Realty News Report — Copyright 2020
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