Hines Renews Major Lease at Prominent Downtown Houston Tower
717 Texas building in downtown Houston.
HOUSTON – Hines has announced new lease agreements at the 717 Texas office tower in downtown Houston, securing renewals and a new tenant as part of a broader repositioning of the property.
The 717 Texas building is located in one of the city’s most active high-rise development corridors.
Calpine, the nation’s largest generator of electricity from natural gas and geothermal resources, renewed its lease for 126,000 square feet at 717 Texas. The tower sits across the street from Jones Hall in Houston’s theater district.
The 33-story office tower is currently undergoing a lobby renovation that introduces a hospitality-inspired design, including new furnishings, updated wall and elevator finishes, improved lighting, and upgraded security consoles.
“We are thrilled that Calpine has extended its term in the building for a commitment that will now span more than two decades,” said John Mooz, Senior Vice President at Hines. “We are also pleased that Smyser Kaplan & Veselka has chosen 717 Texas as its new home. These leases reflect strong market interest in the building’s repositioning, which will be completed in the coming months.”
Lucian Bukowski
Calpine has been an anchor tenant at 717 Texas since the building opened in 2003. Lucian Bukowski of CBRE represented Calpine in lease negotiations. Win Haggard of Colvill Office Properties represented Hines, which developed, owns and manages the property.
Smyser Kaplan & Veselka, L.L.P., a Houston-based litigation firm, signed a new lease for 28,000 square feet at 717 Texas. The firm was represented by Jim Bailey and Trey Strake of Cushman & Wakefield, while Win Haggard represented Hines on the transaction.
717 Texas is a 697,195-square-foot Class A office tower located in Houston’s northern downtown. Designed by HOK and clad in granite, the building offers highly energy-efficient and environmentally conscious office space. Completed in 2003, 717 Texas was the first skyscraper in Texas to achieve LEED Platinum certification for an existing building. When it opened, the tower was originally named Calpine Center.
Win Haggard
The building occupies a full block bounded by Texas Avenue, Louisiana Street, Prairie Street and Milam Street.
Hines is also developing two major high-rise projects nearby that will further transform the surrounding blocks.
On Block 42, across the street from 717 Texas, Hines is constructing a 46-story, 373-unit apartment tower called The Preston. Built on a half-block bounded by Preston, Prairie and Milam, the project will replace the former Houston Chronicle garage and is set to become the tallest residential development in Houston.
On Block 58, to the east of 717 Texas, Hines is developing Texas Tower, a 47-story office building bounded by Texas Avenue, Travis Street, Milam Street and Prairie Street. The planned 1 million-square-foot office tower is being developed in partnership with Ivanhoé Cambridge.
