(HOUSTON) – Hines and Ivanhoé Cambridge announced today that law firm DLA Piper has signed a more than 14-year lease for over 31,000 square feet at Texas Tower, the 47-story, one-million-square-foot office tower under development in Houston. The law firm will relocate to the building in January 2022 and will occupy the 38th floor.
Hines Senior Managing Director John Mooz said, “DLA Piper is a best-in-class firm, and we are excited to continue our 25-year relationship with them in the most amenity-rich, technologically advanced building in the Southwest. While we are developing a modern world-class office project, it is the tenants that truly make the building great.”
“We are thrilled to welcome DLA Piper to Texas Tower,” said Jonathan Pearce, EVP, Leasing and Development, Office and Industrial, North America at Ivanhoé Cambridge. “Texas Tower is the new home of Houston’s leading firms, where a hospitality-focused lobby, flexible office spaces and rooftop gardens empower our tenants to connect and collaborate.”
“We are excited to move into this state-of-the-art building in a great location in downtown Houston. Our new offices will reflect the firm’s global brand and provide a highly efficient, modern environment that will complement our ongoing expansion in Houston and in Texas and our ability to serve our clients,” said Jack Langlois, managing partner of DLA Piper’s Houston office.
Arriving Fall 2021, the Class AA office building will redefine space in the heart of Downtown Houston and offer a radical new approach to lobby and common-area design and activation. Designed by Pelli Clarke Pelli, Texas Tower will be built to meet the highest standards for LEED® Platinum, WiredScore and WELL Building StandardsTM.
Hines and Ivanhoé Cambridge were represented by Michael Anderson with Colvill Office Properties, while DLA was represented by Tim Relyea and David Guion with Cushman & Wakefield. With the signing of this lease, Texas Tower now stands at 40% leased, two years before scheduled delivery. Other notable tenants will include Hines, who will be leasing approximately 180,000 square feet for their new global headquarters, and Vinson & Elkins.
About Texas Tower
Texas Tower will feature unprecedented amenities in the vertically integrated campus, including: a dramatic lobby with cues from the hospitality sector; multiple food and beverage offerings; abundant spaces for networking; a full-service conference facility; public gardens on level 12; and a high-performance health club. Ten-foot, full-height windows will allow for an abundance of natural light across the 30,000-square-foot floor plates and a sophisticated underfloor HVAC system will put comfort choices in the hands of occupants. Protruding, cantilevered bays on each face of the floorplate project away from the building providing opportunities for dramatic internal stairs, atriums and communal spaces, as well as access to fresh air and outdoor green space on sky terraces. Join the evolution here: texastower.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held close to C$65 billion in real estate assets as at December 31, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.