HOUSTON – (Realty News Report) – CBRE has been named the exclusive leasing and property management firm for Four Oaks Place, a five-building Class A office complex totaling approximately 2.3 million square feet in Houston’s Uptown Galleria submarket.
CBRE’s Russell Hodges, Bubba Harkins, Kristen Rabel, and Jenny Mueller will represent the property on behalf of the ownership joint venture between Nuveen Real Estate and Allianz.
“Four Oaks Place has consistently outperformed the market,” said Russell Hodges, Executive Vice President at CBRE. “We expect that performance to continue due to the complex’s intrinsic strengths and its long-standing reputation as the premier Uptown address. We’re also eager to support Nuveen’s plans to modernize the property and expand its amenity offerings for tenants.”
Architecture by Cesar Pelli
Designed by renowned architect Cesar Pelli and developed by Houston developer Giorgio Borlenghi of Interfin Cos., Four Oaks Place opened in 1983. The complex sits about a mile north of the Galleria near San Felipe Road.
PROJECT DESCRIPTION: Four Oaks Place is a distinguished ensemble of clean, colorful buildings whose horizontally banded glass facades create a dynamic mirror effect that defines the northern end of Post Oak Boulevard. The exterior features dual-pane insulated glass with a reflective coating to conserve energy and reduce exterior noise. The buildings’ design provides eight corner offices per floor with panoramic views, while corridors are configured so that at least four tenants on a floor can each enjoy dedicated elevator lobby exposure.
Skylar Huth of Nuveen: “World-Class Environment”
“As the role of the office evolves, Nuveen Real Estate is committed to delivering a world-class environment at Four Oaks Place,” said Skylar Huth, Director of Asset Management at Nuveen Real Estate. “We’re enthusiastic about the property’s future and are planning enhancements that will further revitalize and enrich the office experience for tenants.”
Four Oaks Place includes a large central green space within Uptown Houston and offers access through nine separate parking garage entrances and exits. Its amenity package includes an on-site full-service cafeteria, conference facilities, a professionally operated fitness center with personal training, group classes and massage therapy, a shared tenant lounge, a gourmet coffee outpost, dry cleaning and car wash services, and numerous walkable restaurants.
The Houston office market has faced challenges in recent years as the energy sector contracted and the pandemic affected leasing activity. Current vacancy rates in the Houston office market are near 24 percent, among the highest in the nation by some industry measures.
Co-Working, Industrious and Flexible Space
Flexible space is increasingly recognized as a valuable building amenity. According to CBRE’s Global Occupier Sentiment Survey, a significant majority of occupiers view flexible office options and shared meeting spaces as important factors in future site selection decisions.
Earlier in the year, CBRE Group acquired a 35 percent interest in Industrious, a leading provider of flexible workplace solutions. As part of that transaction, CBRE’s flexible-space platform Hana is being integrated into Industrious. Dallas currently hosts the only Hana location in Texas.
June 17, 2021 Realty News Report Copyright 2021
For more about Texas real estate, consider the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Ebook version is available.
Image: Courtesy CBRE
File: CBRE Gains Four Oaks Assignment. Class A office. Nuveen. Interfin