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800 Bell St. (Former Exxon Building) Updates


TheNiche

Exxon Building, Love it or hate it?  

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  1. 1. Exxon Building, Love it or hate it?

    • Love it!
      86
    • Hate it!
      28


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I like the shot where it's just two guys having drinks and good ol' boy talk...

 

"You know, I thought the Audi A7 was better than the A6... but not quite as good as the A8."

 

"Heh, yeah, I see what you mean."

 

"Heh heh heh..."

 

I thought it was particularly interesting how they took the standard "people in architectural renderings" aesthetic and transferred it seamlessly to video form, the same detached synthetic creepiness was all there only more so. 

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I thought it was particularly interesting how they took the standard "people in architectural renderings" aesthetic and transferred it seamlessly to video form, the same detached synthetic creepiness was all there only more so. 

I really like the sunken plaza scene where it is obviously in late January or early February. People in suits sitting outside.

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If this is going to look like the 3d renderings, I am impressed. I wish the architect of the Wesleyan project and ChiTown's Aqua would have tackled this and made it into a seemingly rippling balconied wonder. BUT, alas, this is not the case. I for one like the new design and think it will add to our skyline, despite my reservations that recladding every building pre 70s may become imminent.

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  • 2 months later...
  • 4 weeks later...

http://www.bizjournals.com/houston/blog/breaking-ground/2014/10/inside-theformer-exxon-buildings-transformation.html

 

You can add another tower to the ever-growing lineup of new buildings on tap for downtown Houston, according toTranswestern.

Currently known by its address, 800 Bell, the 45-story tower occupied by Exxon Mobil Corp. is not being renovated. It’s being reconstructed, said Eric Anderson, executive vice president at Transwestern’s Houston office, which is marketing the property.

“It will be a newly developed product. The only thing that is being reused is the concrete. Everything else will change,” he said. “It will have all the same attributes of the new office buildings being constructed downtown.”

The new design will include floor-to-ceiling windows, 9-foot ceilings, widened floor plates, a three-floor expansion of the existing parking garage, a 12,000-square-foot fitness center, a food service area, an outdoor courtyard, a conference center and a connection to the underground tunnel system.

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  • 3 months later...

i agree its not the most pleasant building at the moment (it definitly could use some clean up and small renovations), its a great example of Mid Century Modern and will be a shame when its gone.

i just wish they could save the design and convert it to condos or something, saving the fins as balconies. heck, they could of applied for the downtown living initiative and gotten that $15,000 a unit to go towards their conversion.

mainjadetower.jpg

jade2.jpg

admittedly this Miami proposal looks way too tall and out of scale, but i think a similar exterior design on our shorter ExxonMobil building would look nicely.

ext.JPG

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I think the idea has dome merit. Having this baby filled up would be good for the overall picture. No idea about its suitability. But I do known this...th Patrolium Club space would make a hell of a commissary.

I think the idea has dome merit. Having this baby filled up would be good for the overall picture. No idea about its suitability. But I do known this...th Patrolium Club space would make a hell of a commissary.

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I think the idea has dome merit. Having this baby filled up would be good for the overall picture. No idea about its suitability. But I do known this...th Patrolium Club space would make a hell of a commissary.

I think the idea has dome merit. Having this baby filled up would be good for the overall picture. No idea about its suitability. But I do known this...th Patrolium Club space would make a hell of a commissary.

Hitting the bottle a little early Navi?

 

I used to hate this building, but now I have some serious respect and appreciation for it. I wasn't looking forward to the complete overhaul.

 

Kind of fitting the city leases space here. Take that Los Angeles Water Works.

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The Chronicle article indicated that leasing the entire tower would be about $35 million per year. It would provide 10% more square footage than the city's existing buildings.

 

Given that the city is seeking more space, and the renovation was supposed to increase the square footage of this tower, I would not be completely astonished if the renovation were to move forward. The city has 18 acres with the existing complex. That land could be moved in due time.

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Didn't realize HH was that old either.

Anyway if the city leases Exxon and the building isn't drastically renovated as originally planned, this will be the best news I have heard in a while.

I was concerned about

1. A complete overhaul

2. Chevron leasing and staying longterm instead of building.

I love this building.

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Lower right-hand corner is the ATT building folks were talking about on a different thread.... proof that there is something smaller, and older hidden there.

 

Interesting photo of 800 Bell.  I think moving Municipal Courts and HPD there certainly solve several problems.

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That's probably the best luck Shorenstein has had since this redevelopment got announced. This may be one of those instances where both the City and the developer got lucky. The developer gets a 100% occupied building, and the City avoids spending a billion dollars.

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Ok, back of the napkin calculations here...

 

Whoever said the building would lease for $35 million a year is figuring around $30/sf rent, which makes sense for its age and condition. But this would be a home run for Shorenstein. Average downtown office cap rate is a little over 7%. This would be higher if it's a shorter than average lease term and there's still the risk the city decides to leave down the road and build their own facility, but that is tempered by the city's AA credit. So let's say this trades at a 7 cap... Shorenstein then sells the building for $500 million, one of the biggest sales in downtown history. Even at an 8 cap, that's $440 million. A 9 cap for something like a 5 year lease is still $390 million. When you consider that they probably paid around $50 million for it and will sink maybe $20 million in renovation costs, that is a pretty nice profit to have cleared. 

 

Someone tell me what I'm missing.

 

Edited by H-Town Man
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  • Highrise Tower changed the title to 800 Bell St. (Former Exxon Building) Updates

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