Williams Signs Long-Term Lease Renewal At Williams Tower
(HOUSTON, TEXAS) -- Hines, the international real estate firm, announced today that a unit of Williams, Transcontinental Gas Pipeline Corporation (Transco), has signed a long-term lease renewal at Williams Tower (formerly Transco Tower) for 217,595 square feet. The 1.5 million-square-foot, 64-story tower is located at 2800 Post Oak Boulevard. An anchor tenant since 1983, the energy firm will occupy nearly 15 percent of the tower's space when the new lease term begins in April 2004. Another Williams subsidiary is currently negotiating with Hines for additional space in the Williams Tower.
Ronnie Deyo and Dan Bellow of the Staubach Company represented Williams in lease negotiations. Ronnie Martin and Michael Anderson of Hines represented the building owner, Transco Tower Limited.
“The fact that Williams has renewed its lease is a vote of confidence for the building and the city,” said Hines Executive Vice President Louis Sklar. “Transco, which was acquired by Williams in 1995, played a significant part in the tower’s conception and construction, and we are pleased that the company will continue to have a presence in Houston.”
The building’s tenant roster includes Van Kampen Investments, Hines, Rowan, Smith Barney and a prestigious group of additional corporate tenants.
Upon completion in 1983, Williams Tower immediately became a landmark building in Houston.
Among the tower's distinctions:
- At 909 feet, it is the tallest building in the world outside of a CBD
- A 7,000-watt, revolving beacon atop the building can be seen for miles around, creating a virtual urban lighthouse
- An adjacent three-acre park provides enjoyment for tenants and visitors. At the park’s edge is a 64-foot-high Water Wall with 11 million gallons of water flowing every minute over both its sides. The Water Wall has become a famous and often visited Houston attraction.
- The tower itself has become one of the most photographed buildings in the world
- The tower is connected by skywalk to the world-famous Galleria, Houston’s most popular shopping and tourist destination.
Designed by renowned architects Philip Johnson and John Burgee, the tower’s familiar silhouette on the Houston sky recalls the art deco style. Clad in silver gray reflective glass and anodized aluminum, the sleek tower is accented by columns of bay windows of non-reflective glass and podium setbacks on two lower floors and four higher levels.
The Staubach Company is a global, full-service real estate advisory firm that delivers cost-effective solutions for the users of office, industrial and retail space. Founded in 1977, the company helped pioneer the concept of exclusive office tenant representation to minimize conflicts of interest and has since expanded services to meet clients' ever-changing requirements. Areas of expertise include site selection, acquisition and disposition, financing, design and construction consulting, and other outsourced services. With 50 offices in the Americas, The Staubach Company has access to 7,600 professionals worldwide in over 40 countries through DTZ Staubach Tie Leung. For more information, visit www.staubach.com.
Williams, through its subsidiaries, primarily finds, produces, gathers, processes and transports natural gas. Williams’ gas wells, pipelines and midstream facilities are concentrated in the Northwest, Rocky Mountains, Gulf Coast and Eastern seaboard. More information is available at www.williams.com.
Hines is a privately owned real estate firm involved in developing, acquiring, leasing and managing real estate, as well as providing extensive global investment management and advisory services. The Hines portfolio of projects completed and underway includes 712 properties representing 230 million square feet of office, mixed-use, industrial, hotel, medical, sports facilities and residential properties, as well as large, master-planned communities and land developments. With offices in 78 U.S. cities and 11 foreign countries, and controlled assets valued in excess of $13 billion, Hines is one of the largest real estate organizations in the world. Access www.Hines.com for more information.