Houston Firm Signs Lease for 284,000 SF in Downtown Skanska Tower
Rendering of Skanska building under construction in downtown Houston. Architecture by Gensler.
HOUSTON – Waste Management has signed a 15-year lease for 284,000 square feet in Skanska’s Capitol Tower, currently under construction in downtown Houston.
The company will relocate its headquarters from 1001 Fannin to the new Skanska tower in 2020. This agreement brings the office portion of the building to 72 percent leased.
The 35-story tower, located on a block bounded by Capitol, Rusk, Milam and Travis streets, is scheduled for completion in the first half of 2019.
CBRE representatives Warren Savery and Kristen Rabel represented Skanska in the lease negotiations. CBRE’s Rich Pancioli, Jon Lee and Lisa Konieczka represented Waste Management.
“Working with CBRE we evaluated many great options and feel confident Capitol Tower will provide a unique and collaborative platform for our new corporate headquarters space. Capitol Tower offers us high-end desirable amenities, along with a great location within the Houston CBD to support us in continuing to move our business forward for many years to come,” said Jim Wilson, Senior Director of Real Estate for Waste Management.
The development is the first office project in Texas to achieve LEED v4 Platinum pre-certification, reflecting high sustainability standards in design and construction.
“The building will be one of the most sustainable office buildings in Texas and supports our company commitments to conserving natural resources,” said Jim Fish, president and CEO of Waste Management.
Another major tenant, Bank of America, has leased 205,000 square feet in the tower and secured the building’s naming rights.
Designed by Gensler, the new tower will offer approximately 754,000 square feet of office space and 26,000 square feet of street-level retail. The development at 800 Capitol St. will include extensive retail and restaurant space at the tunnel level.
The project is being built on the former site of the Houston Club building and sits at a critical underground node of the downtown tunnel system, providing pedestrian connections to numerous downtown buildings.
The Houston Club was imploded in 2014. Skanska poured the tower’s foundation in 2015 and subsequently constructed the initial levels of the parking garage.
