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609 Main at Texas: Hines Next Downtown Tower

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Originally posted October 5, 2019 in this thread before all of my content were removed from the entire forum earlier this month. 



 

609 Main in downtown Houston is on the market.

Cushman & Wakefield is marketing the Hines building on a site specifically for potential buyers. The site went live this week.

 

On behalf of Hines, Cushman & Wakefield is pleased to present the generational opportunity to acquire 609 Main at Texas, a recently delivered, 48-story, trophy office tower and an icon on the Houston, Texas skyline. 609 Main (the “Tower”, “Building” or “Property”), measures 1,085,427 Rentable Square Feet (100,839 Rentable Square Meters). The property is 94% leased to a diverse roster of industry- leading, high-credit tenants with a 10.6 year weighted average lease term. 609 Main is the premier office address for premier tenants.
 

609 Main at Texas is a Class AA + trophy quality tower designed by Pickard Chilton and developed by Hines. It is set within the highly sought-after Main Street district of downtown Houston. The Building features best-in-class amenities including a flexible 300-person conference center and event space, a 6,000 SF state-of-the-art fitness facility and two rooftop gardens. The street level retail, including Prelude Coffee and Mendocino Farms, embraces the active live-work-play environment of the Central Business District. 



https://www.609mainhtx.com/

 

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The restaurant build-out on the Main and Texas Ave. corner is looking like they will be finished soon.

 

Exterior:

MVIMG_20191020_195036.jpg

Edited by jermh
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"The property is 94% leased to a diverse roster of industry- leading, high-credit tenants with a 10.6 year weighted average lease term."

 

Wow 94% leased... that's impressive... I didn't think it was that much.

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Wonder how much this is going to sell for? I'm suspecting a new record for Houston, probably dwarfing capitol tower's $695/ft^2 numbers. I'm suspecting in the $800's, maybe even more. It will easily reach $700 without question, but how much do y'all suspect it will go for?

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1 hour ago, TheSirDingle said:

Wonder how much this is going to sell for? I'm suspecting a new record for Houston, probably dwarfing capitol tower's $695/ft^2 numbers. I'm suspecting in the $800's, maybe even more. It will easily reach $700 without question, but how much do y'all suspect it will go for?

 

It's mostly based on the rents. 609 Main probably averages $2-3/sf higher (5-10%) so somewhere in the $700's is my guess. Might get a slight premium for being the market leader.

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