Madison Marquette Secures 96,000 SF in Leasing at Bank of America Center
Bank of America is leaving the building that bears its name in Downtown Houston. But progress is being made in leasing the 56-story tower.
HOUSTON – (Realty News Report) – Madison Marquette’s Houston office has announced the successful negotiation of 95,883 square feet of leases at the Bank of America Center, the 56-story office tower at 700 Louisiana in downtown Houston.
Madison Marquette leasing executives John Spafford and Madeline Gregory represented the landlord, Houston-based M-M Properties, in several recent transactions:
Kilpatrick Townsend & Stockton LLP, an international law firm, signed a new lease for 17,519 square feet. CBRE brokers Doug Elliott and Ron McWherter represented Kilpatrick Townsend in the deal.
Weil, Gotshal & Manges LLP, an international law firm, renewed its lease for 21,375 square feet. JLL’s John Burke represented Weil in the renewal.
Schiffer Hicks & Johnson PLLC, a Houston-based litigation firm, renewed its existing 6,248-square-foot lease and expanded into an additional 4,627 square feet. CBRE’s Jon Lee represented Schiffer Hicks & Johnson.
Carlson Capital, LP, an asset management firm, renewed its lease for 8,774 square feet. Cushman & Wakefield’s Angus Hughes represented Carlson Capital.
BMO Capital Markets Corp., a North American financial services firm, renewed a 30,275-square-foot lease and expanded into an additional 7,065 square feet. JLL’s David Bale and Eugene Terry represented BMO Capital Markets.
“This landmark building continues to be a top-tier choice for office space in downtown Houston,” said John Spafford, Executive Vice President and Director of Leasing for Madison Marquette. “Its distinguished address and tenant mix—spanning energy infrastructure, global law firms, private equity and financial services—reinforce its market position.”
Dan Shank, partner in Kilpatrick Townsend & Stockton’s Houston office, added: “When we opened our Houston office in late 2017, we evaluated downtown alternatives and determined that Bank of America Center was the best fit for our firm and our clients. The building is one of the most prestigious and distinctive office locations in the city, and we look forward to our continued association with the property.”
The Bank of America Center, developed by Hines and designed by Philip Johnson and John Burgee, encompasses roughly 1.2 million square feet. Bank of America plans to vacate the building this summer to move into a new downtown tower developed by Skanska. Celebrated as an early and notable example of Postmodern architecture in Houston, the Class A trophy tower includes approximately 1.25 million square feet of office and retail space and connects to the extensive Downtown Houston tunnel system.
Property owner M-M Properties has launched a $20 million renovation program. Phase I is underway and will introduce an 8,000-square-foot white-tablecloth restaurant on the northwest corner of the lobby, along with 10,000 square feet of creative office space overlooking Jones Plaza. Phase II will add a tenant lounge and conference center, a lobby coffee bar, and new mezzanine-level collaborative workspaces beneath the building’s dramatic cathedral ceilings.
“The recent leasing activity—new tenants, renewals and expansions—underscores the property’s elevated status within the downtown submarket,” said Ken Moczulski, CEO of M-M Properties. “The ongoing renovations will improve our ability to serve businesses seeking a premier office location in the amenity-rich Theatre District.”
Part of Moczulski’s redevelopment plan included reopening and redeveloping the old Western Union building, which had been enclosed behind granite when the tower was completed in 1983. The revitalized Western Union space now provides more than 35,000 square feet for redevelopment, including destinations such as the planned white-tablecloth restaurant.
When it first opened, the tower was known as Republic Bank Center.
