barracuda

Demolishing the Houston Club at 811 Rusk Street for Capitol Tower by Skanska

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I'm not a real estate expert by any means but It would seem to be a smart thing for CBRE to be located in the same tower as Gerald Hines.

I don't know if that would be a consideration but often suppliers and ancillary businesses often move close to their big customers in different industries. Perhaps some one with understanding would comment.

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56 minutes ago, bobruss said:

I'm not a real estate expert by any means but It would seem to be a smart thing for CBRE to be located in the same tower as Gerald Hines.

I don't know if that would be a consideration but often suppliers and ancillary businesses often move close to their big customers in different industries. Perhaps some one with understanding would comment.

 

CBRE has numerous clients who compete with Hines, so if anything the perception of a close relationship would be a disadvantage. But CBRE is as big as it gets in the brokerage world and they do not need Hines for anything, although I guess it can't hurt to be an elevator ride away should their business intersect. They are probably in Transco Tower because it is an iconic piece of real estate, hence suitable for a real estate brokerage, and because having the Galleria an air-conditioned walk away helps attract and retain top talent.

 

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I knew someone would have the answer. Thanks for informing.

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10 hours ago, bobruss said:

I'm not a real estate expert by any means but It would seem to be a smart thing for CBRE to be located in the same tower as Gerald Hines.

I don't know if that would be a consideration but often suppliers and ancillary businesses often move close to their big customers in different industries. Perhaps some one with understanding would comment.

 

If that was their strategy, CBRE should have moved their Houston operations to 609 Main, where Hines has its regional offices from which they manage their Houston properties and developments.

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The move doesn't make sense to me and quite honestly, not sure why everyone is saying they could see this coming from a mile away. Surprised a lot of people here at my office and I work for the company! CBRE usually has several offices in the same city where it's at for various reasons, as opposed to one central location per city. There were rumors we were actually going to expand in downtown. The only clue I can point to is newer management at the downtown location... perhaps they made the point money could be saved by consolidating into one tower. Makes me wonder about our Memorial City address now too.

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As swtsig mentioned, this has been in the works for awhile.  From what I understand, a large part of this was to maintain the strong relationship with Invesco.  CBRE is the exclusive leasing agent for all of Invescos' assets in Houston, including Williams Tower.  There may have been pressure in this regard.

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And, CBRE has been doing these consolidations in cities with multiple offices for several years.  FWIW, It's unclear from CBRE's press release what is to become of the Memorial City office.  They give contradictory information in one sentence:  "Professionals from CBRE’s downtown Houston and 2700 Post Oak Boulevard offices will relocate to Williams Tower, consolidating CBRE’s Houston operations under one roof."

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1 hour ago, CREguy13 said:

CBRE is the exclusive leasing agent for all of Invescos' assets in Houston, including Williams Tower.

 

Hope they gave themselves a good rate.

 

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On 6/21/2017 at 1:56 PM, CREguy13 said:

As swtsig mentioned, this has been in the works for awhile.  From what I understand, a large part of this was to maintain the strong relationship with Invesco.  CBRE is the exclusive leasing agent for all of Invescos' assets in Houston, including Williams Tower.  There may have been pressure in this regard.

 

this.

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