HOUSTON – (Realty News Report) – Hicks Ventures and Taconic Capital Advisors have announced a $6 million renovation plan for the 18-story office tower at 1177 West Loop South, located in the Galleria submarket.
The 342,000-square-foot building, which opened in 1979, sits on the east side of Loop 610.
“Since we acquired the building less than a year ago, we have worked diligently to complete a master plan that will usher in a new era for this highly visible and prominent tower in Uptown,” said Paul Frazier, director of the Houston office group for Hicks Ventures, the company overseeing leasing and property management. “This aggressive capital improvement plan is a game changer for this iconic building.”
Gensler will serve as architect of record for both exterior and interior renovations, while Terralab has been engaged as landscape architect.
Planned changes include a reimagined exterior, a redesigned garage connector and an updated outdoor plaza. A continuous ribbon of light tracing the curve of the façade will accent the canopy and provide a distinctive branded feature.
The project follows previous upgrade efforts in 2014 and 2017 and is scheduled for completion by August.
The property occupies 4.4 acres near Post Oak Park and Post Oak Boulevard. The office has 20,000-square-foot floor plates and is currently 74 percent leased; Cornerstone Mortgage has leased 65,000 square feet.
Hicks Ventures was founded in 2007 by Pat Hicks, a former executive with Trammell Crow and MetroNational Corp.
Taconic Capital Advisors was founded by former Goldman Sachs partners Frank Brosens and Ken Brody.
Feb. 26, 2020 Realty News Report Copyright 2020
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