(HOUSTON, TX) – Co-developers and global real estate firms, Hines and Ivanhoé Cambridge, announced today that Clifford Chance and Morgan Stanley have signed leases totaling nearly 100,000 square feet at Texas Tower. Additionally, the 47-story, one-million-square-foot, Class-AA downtown Houston office tower has achieved Platinum status across LEED, WELL, SmartScore and WiredScore certifications, marking the pinnacle in sustainability, health, technology and connectivity achievements.
“As Texas Tower continues to attract industry-leading global companies, it’s evident that tenants are increasingly focused on collaborating and integrating ESG targets into our shared strategies and building services,” said John Mooz, senior managing director at Hines. “We take pride in setting the standard for sustainable and innovative office development in Houston and beyond. Achieving LEED, WELL, SmartScore, and WiredScore designations at the highest level underscores our unwavering commitment to providing exceptional environments that are responsive to the evolving needs of our tenants and the broader community."
“We are proud that Texas Tower’s attractive positioning, stellar sustainability profile, and hospitality-centric service offering continue to attract and resonate with top-tier tenants like Morgan Stanley and Clifford Chance,” said Charlie Musgrave, Vice President of U.S. Office and Life Science Leasing at Ivanhoé Cambridge. “As workplace needs keep evolving, flexibility becomes paramount. The curated and inspirational environments enjoyed by our tenant customers at Texas Tower highlight a shared dedication to the future of work—reducing barriers posed by traditional office and providing our tenants with the ability to scale via the combination of activated common areas, furnished spec suites and our flex offering with Hines, The Square.”
Leasing Momentum Continues
Global law firm Clifford Chance is set to expand its presence within the Texas Tower and will occupy 60,400 square feet across two entire floors. The firm grew its US presence with the opening of its Houston office earlier this year within The Square at Texas Tower, Hines’ flexible workspace platform. Since then, the firm has seamlessly transitioned to two fully equipped spec suites to accommodate its growing team. The expansion into Houston builds on Clifford Chance's wider Americas operations in New York, Washington, DC and São Paulo, aligning with the firm's broader global strategy of expanding its US capability in the energy and infrastructure sectors.
Morgan Stanley Wealth Management has leased 37,600 square feet at Texas Tower. A global leader, the firm provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services.
Highest Platinum Ratings Achieved
Guided by the most advanced principles in workplace design, Texas Tower is one of the only office buildings in the country with all four Platinum LEED, WELL, SmartScore and WiredScore designations; the only SmartScore Platinum-certified building in Houston; and one of four buildings in the United States to achieve both SmartScore and WiredScore Platinum certifications.
The globally recognized certifications are industry benchmarks designed to help create best-in-class buildings that attract and retain tenants, reduce environmental impact, and provide a healthy and productive indoor environment. Texas Tower underwent rigorous testing by each organization and final evaluations carried out by third parties to ensure it meets all performance requirements for these certifications.
Key features that contributed to Texas Tower’s Platinum designations include its central location with easy access to public transit, bike parking and electric vehicle charging stations; well-thought-out building energy efficiency, including high-efficiency chillers and a unique underfloor air delivery system; low-flow water fixtures that reduce potable water use significantly; a rainwater harvesting and condensate recovery system that produces 100% of irrigation required; sophisticated indoor air quality strategies; quality daylighting and views for building occupants; and access to multiple rooftop terraces that provide an opportunity to connect with nature and all its benefits.
Texas Tower continues Hines and Ivanhoé Cambridge’s track record of developing best-in-class real estate projects that focus on optimizing the experiences of individuals, such as River Point in Chicago (LEED Platinum and WELL Health-Safety certified) and CIBC SQUARE in Toronto (SmartScore Platinum certified, anticipated LEED and WELL Platinum certified). As part of both Ivanhoé Cambridge and Hines’ ESG and innovation approaches, the firms continue their commitment to innovative smart building strategies that prioritize the tenant experience and solutions to environmental, social, and governance issues.
Texas Tower now stands at 80% leased. Current tenants include Hines, Vinson and Elkins, McGuireWoods and DLA Piper law firms. Other confirmed tenants include Cheniere Energy, inc., Chicago Title, Charter Title Company, Novak Druce, a trading company and a confidential tenant. Additionally, The Square at Texas Tower now stands over 90% occupied.
Clifford Chance was represented by Chade Beck with Cushman and Wakefield in lease negotiations and Morgan Stanley was represented by John Burke with Jones Lang Lasalle. Michael Anderson with Cushman and Wakefield represented Hines and Ivanhoé Cambridge, the building developers and owners.
For more information, including leasing details, visit https://texastower.com/.
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $94.6B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 790 properties totaling over 269 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2023.
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.
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 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.