ndnuno

What is the future outlook for IAH? After traveling to DFW recently, I feel IAH could really use a facelift! The new TERMINAL D at DFW is beautiful and once again Dallas has one up on us. IAH needs to pick up its game and start beautifying the airport and make a larger international presence. I want IAH and Hobby to be the new bigger better ORD and Midway of Chicago....

My mistake - Galleria Tower I is on Post Oak Boulevard (where Wachovia Securities is located) and Galleria Tower II is on Westheimer. Thank you for the correction. As for Williams owning 50% of the building is a detail I learned from some Williams employees and the security guards, so again apologies if the number is inaccurate indeed. I'm not positive the occupancy is as little as 16% but I will give the benefit of the doubt to you rather than a rent-a-cop. Lastly, the Waterfall being shut down hasn't been publicly announced yet. To my understanding, my clear understanding -- A client of mine who is part of the CB Richard Ellis transaction team for the Hines buy out mentioned the detail to me. He said Hines repurchased the building back but the deal still left the waterwall in question. I will definitely find out more as soon as I can.

I'm sure it will connect to the delayed Turnberry Tower somehow. Turnberry's main advertising scheme is that they are adjacent to the Waterfall and provide amazing views. They were filming a movie last week with Sean Penn and Brad Pitt at the site. Rumor has it they wanted a "less expensive" Central Park movie shot. Guess Williams Waterfall will due.

I see that this is quite an old post and yet no one seemed to answer any of the questions. First, this is my first official post on the forum, so hello. Second, I work for Wachovia in the Williams Tower. The 1st, 2nd, 34th, and 35th floors are all leased by Wachovia Bank N.A.. The Texas regional President and all the midwest financial centers report to our little home of Houston. (We report directly to Charlotte from here) A.G. Edwards is based out of Galleria Tower II - 2700 Post Oak (Williams Tower is 2800 Post Oak), but Wachovia purchased the company and merged them with South Trust Bank forming ultimately Wachovia Securities, which is still based in 2700 Post Oak. Our operations are different, we just share a name. Third, the Williams company is HUGE! I'm not sure if any of you have been inside the Williams Tower, but the 2nd floor elevators (the whole left bank) belong to Williams Corporation. ~ They lease beyond 50% of the building! Wachovia only takes up 2.5 floors....though Wachovia tower sounds cooler...definitely no name change. Fourth, Hines (who built the tower & the galleria mall is headquartered here) repurchased the building back. Though Williams maintains naming rights, Hines is now the new building owner. CB Richard Ellis (also headquartered in the building) finished the transactions last month and announced they are selling off the Williams Waterfall and are planning to tear it down due to high operating costs. It's still unknown what they plan to do with the land, either sell it to adjacent Turnberry Towers, develop it or just keep it as a minimal walking park. I'll keep you posted on what happens...