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Bank Of America Tower At 800 Capitol St.


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32 minutes ago, H-Town Man said:

 

If you think of food halls as just being high end food courts, I don't think they will fade. Food courts have not faded. American society is becoming more and more epicurean about what they eat, at an incredible pace, so food courts are becoming food halls. Twenty years ago, office workers wanted to choose between Sbarro, Jason's Deli, Wok N Roll, Ninfa's, and Burger King. Today they want to choose between brick oven pizza, charcuterie, banh mi, Peruvian wild boar tacos, and the kind of chef-made, $15 burger you used to mainly see in London. We're going to start seeing these everywhere you have an existing food court and high rent office space. So long, Sbarro.

 

 

 

I was being a little snarky before about the nomenclature; every "food hall" seems to have "concepts" that are "chef driven".  If it is a food court with better quality, bring 'em on. Whoever writes the ad copy seems to be grabbing buzzwords and it seems that a lot of these things will be (or are at least at some stage planned to be) hitting all at once.  Poorly run restaurants and/or bad food won't last long anywhere and good food will always be popular. Seems like they set these things up to have the tenants come and go, so what works stays and what doesn't gets replaced, supposing they have enough chefs to step up and pay the rent.  

 

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Just now, swtsig said:

how can you sell mexican food and not booze??? that's bad for business. i know a lot of office buildings try to limit alcohol sales on premises but this is a bad idea.

Probably has to do with the fact that they're opening a cocktail bar, and want people to get drinks from there. 

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3 hours ago, UtterlyUrban said:

I thought that folks on this forum schooled me that  “food halls” were different than “food courts” because “food halls” didn’t have chain restaurants but instead had more “curated” foods from local chefs......

 

 

 

Do you think that is not essentially true?

 

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  • 2 months later...
26 minutes ago, CREguy13 said:

 

Nice. Of course they are relocating from 1001 Fannin, so it doesn't help downtown too much. I imagine they are also reducing their footprint through more shared/open workspaces, if recent downtown trends are any indication.

 

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44 minutes ago, H-Town Man said:

 

Nice. Of course they are relocating from 1001 Fannin, so it doesn't help downtown too much. I imagine they are also reducing their footprint through more shared/open workspaces, if recent downtown trends are any indication.

 

 

The Business Journal report on the lease says their lease at 1001 Fannin is 202,000 square feet.  I wonder if they are consolidating some of their other spaces (for example, they have some significant space in One City Centre.)

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1 hour ago, CREguy13 said:

Waste Management and V&E are both moving out of 1001 Fannin. That building will be 2/3 empty when they leave if no other tenants take their place. 

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I am curious what will happen to many of the older high rises as they age and tenants move to newer ones. Employees, young ones even more so, have an expectation of what an office environment will be. Many of these are built into new structures. Some of these older ones will try to upgrade but at some point they won't be desirable. Rent can only be lowered so far. 

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Old skyscrapers can be gutted and remodeled periodically for centuries.  I can't see something like 1001 Fannin ever being torn down.  It might get a new curtain wall at some point in this century to add floor-to-ceiling windows and perhaps might even be barely recognizable after a significant renovation, but there's no real reason to tear it down.  I don't believe the floor spacing is quite as high as the Capitol Tower, but it's close, and certainly not insufficient for a modern office.  I can't see a point where that building will ever be undesirable, as long as it's upgraded and remodeled to meet changing needs.

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  • 1 month later...

https://www.bizjournals.com/houston/news/2018/12/19/law-firm-to-move-houston-office-to-capitol-tower.html

 

Quote

 

Law firm to move Houston office to Capitol Tower

 

By Olivia Pulsinelli  – Senior web editor, Houston Business Journal

an hour ago

 

Skanska has signed another tenant for its new skyscraper underway in downtown Houston.

 

Winston & Strawn LLP signed a 15-year lease for about 62,430 square feet in Capitol Tower, at 800 Capitol St., according to a Dec. 19 press release. The Chicago-based law firm currently has its Houston office at 1111 Louisiana St. and plans to move into Capitol Tower in 2020. 

 

Earlier this year, Winston & Strawn ranked No. 25 on the Houston Business Journal’s 2018 Largest Houston-Area Law Firms List, based on its 51 local lawyers at the time. The firm also reported 88 local full-time employees. Winston & Strawn’s website now lists 54 professionals in its Houston office.

 

This latest deal brings Capitol Tower’s office portion to 81 percent preleased. The 35-story, 750,000-square-foot Class A office tower is expected to be complete in the second quarter of 2019. 

 

In addition to Winston & Strawn, North Carolina-based Bank of America Corp. (NYSE: BAC), Houston-based Waste Management Inc. (NYSE: WM) and Houston-based Quantum Energy Partners will also be tenants in Capitol Tower.

 

 

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