New Tenants Signed for 1100 Louisiana Office Tower
The 1100 Louisiana building in downtown Houston was developed by Hines.
HOUSTON – (Realty News Report) – Colvill Office Properties announced two new leases at the 1100 Louisiana building in downtown Houston. Chip Colvill and Paula Bruns of Colvill Office Properties represented the building’s ownership in both transactions.
Paloma Resources, LLC signed a lease for 4,200 square feet. The tenant was represented by Bob Parsley of Colliers International.
Proman Global Development, LLC signed a lease for 3,500 square feet. Bill Boyer of CBRE represented the tenant.
The 1100 Louisiana building is an award-winning, 1,265,332-square-foot office tower developed by Hines in 1980 and currently managed by Hines. The 55-story tower, designed by Skidmore, Owings & Merrill, occupies the block bounded by Smith, Dallas, Lamar and Louisiana streets in downtown Houston.
Colvill Office Properties focuses on landlord representation for office buildings and currently oversees leasing and marketing for 17 million square feet of Class A office space in Houston. The firm manages approximately 13 percent of the city’s Class A inventory and 32 percent of the central business district’s office space.
According to CBRE, Houston’s office market vacancy rate rose 130 basis points, from 17.3 percent in the fourth quarter of 2017 to 18.6 percent in the fourth quarter of 2018.
About 2.2 million square feet of office space is currently under construction in Houston, including downtown’s Capitol Tower by Skanska and the new Hines tower on Texas Avenue at the former Houston Chronicle site.
