cloud713 Posted October 7, 2014 Share Posted October 7, 2014 Word from the realty report is Hines is asking $50 a sf for this one.wow! will that be the first building to break 50$/sq ft in Houston? i dont keep track of that sort of thing, only prices of the total building. but $50/sq ft would put this building at over $500 million, making it the most expensive tower in Houston if im not mistaken. Quote Link to comment Share on other sites More sharing options...
fkp5 Posted October 7, 2014 Share Posted October 7, 2014 I think that BG Group is the most expensive in downtown at $44/sq ft, so this would be priced considerably higher. 1 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted October 7, 2014 Share Posted October 7, 2014 BG quotes $36/SF on a 'net' basis. When factoring in Operating expenses, the building is just over $50 'gross'. Some are projecting the building will quote $40-42 Net, which will be a record for Houston. 1 Quote Link to comment Share on other sites More sharing options...
allthingshouston Posted October 8, 2014 Share Posted October 8, 2014 BG Group Place is quoting $36.00 net and their 2014 budgeted operating expenses are $18.50.609 Main is quoting $36.00 net as well, except for the top 2 penthouse floors are $40.00. Quote Link to comment Share on other sites More sharing options...
Hasek Posted October 9, 2014 Share Posted October 9, 2014 How is that calculated? is that rent per year? Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted October 9, 2014 Share Posted October 9, 2014 Total Cost divided by the square footage a company rents. Quote Link to comment Share on other sites More sharing options...
LarryDierker Posted October 9, 2014 Share Posted October 9, 2014 How is that calculated? is that rent per year? Yes. per year I believe. That price per month would be pretty expensive. Quote Link to comment Share on other sites More sharing options...
allthingshouston Posted October 9, 2014 Share Posted October 9, 2014 Yep, it's per year, per square foot leased. :-) Quote Link to comment Share on other sites More sharing options...
brijonmang Posted October 9, 2014 Share Posted October 9, 2014 Looks like we had our first pour after the big mat pour yesterday afternoon. We are starting to go vertical. http://oxblue.com/open/hines/609main 2 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted October 9, 2014 Share Posted October 9, 2014 Yep, it's per year, per square foot leased. :-)What if one were to buy the tower? How much can we expect this to go for if the lead tenant decides to buy it out? Quote Link to comment Share on other sites More sharing options...
Avossos Posted October 9, 2014 Share Posted October 9, 2014 What if one were to buy the tower? How much can we expect this to go for if the lead tenant decides to buy it out?Probably the biggest deal in Houston. Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted October 9, 2014 Share Posted October 9, 2014 It would be a record-breaker for a property sale in this town. Everything else to date has set a record. 1 Quote Link to comment Share on other sites More sharing options...
allthingshouston Posted October 9, 2014 Share Posted October 9, 2014 1000 Main, which is as comparable to BG Group Place as can be considering the buildings downtown, is up for sale and supposed to go for north of $500 per square foot. Invesco purchased BG Group Place from Hines in 2013 and they plan to hold onto it long-term. They purchased it for $493 per square foot. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted October 14, 2014 Share Posted October 14, 2014 What if one were to buy the tower? How much can we expect this to go for if the lead tenant decides to buy it out? Unlikely a tenant would buy it out since they would be sinking a lot of capital into a building, which doesn't really do much for them. It's investors who want this stuff. What it sells for will depend on who leases it and how long they lease it for. One Shell Plaza sold for so much a few years ago because Shell had signed a huge (20 year?) lease. Whoever bought it was essentially buying an income stream, not a building. 1 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted October 14, 2014 Share Posted October 14, 2014 ah.. interesting. so did BG Group Place not sell to BG Group? or Hess tower sell to Hess? i assumed those corporations bought their respective buildings out. Quote Link to comment Share on other sites More sharing options...
H-Town Man Posted October 14, 2014 Share Posted October 14, 2014 ah.. interesting. so did BG Group Place not sell to BG Group? or Hess tower sell to Hess? i assumed those corporations bought their respective buildings out. No, they sold to investors. I think a few buildings back in the day were owner/user, including at one time the Transco Tower, which I want to say was actually owned by Hines until around 2000. Being owner/user allows for a more creative and less efficient building (certainly true of Transco) than you would have in a building that's done with investment in mind, where what's desired above all is low risk, high efficiency. Quote Link to comment Share on other sites More sharing options...
Nate99 Posted October 16, 2014 Share Posted October 16, 2014 7 Quote Link to comment Share on other sites More sharing options...
Purdueenginerd Posted October 16, 2014 Share Posted October 16, 2014 Nice concrete placement. The boom for the pump is stretching out there a little bit. Quote Link to comment Share on other sites More sharing options...
monarch Posted October 16, 2014 Share Posted October 16, 2014 momentum... momentum... momentum... momentum... Quote Link to comment Share on other sites More sharing options...
Sunstar Posted October 16, 2014 Share Posted October 16, 2014 For the uninitiated, what are they doing, pouring the foundation on top of the foundation? What is the purpose of that space between the two slabs? 1 Quote Link to comment Share on other sites More sharing options...
rechlin Posted October 16, 2014 Share Posted October 16, 2014 That's not a foundation. That looks like garage floor B1 to me (floor B2 was the one below it). Next step is the ground floor, and then we'll be going vertical! They've been making good progress excavating the other half of the block (where the remainder of the garage will go), too. 2 Quote Link to comment Share on other sites More sharing options...
Howard Huge Posted October 17, 2014 Share Posted October 17, 2014 Nice concrete placement. The boom for the pump is stretching out there a little bit.Yea, you can lay those knuckle boom pumps flat out, they dont really have a set working range, its pretty much anywhere the boom will reach.Those trucks have outriggers like a truck crane. 1 Quote Link to comment Share on other sites More sharing options...
Nate99 Posted October 20, 2014 Share Posted October 20, 2014 Are they building another crane base for use on the garage section at the edge of the site near the curb here? Looks like the base (grey steel thing) off to the right. 4 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted October 20, 2014 Share Posted October 20, 2014 Are they building another crane base for use on the garage section at the edge of the site near the curb here? Looks like the base (grey steel thing) off to the right. That was the plan I believe.. 1 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted October 22, 2014 Share Posted October 22, 2014 Just drove by and they have the third crane base up. 1 Quote Link to comment Share on other sites More sharing options...
Timoric Posted October 22, 2014 Share Posted October 22, 2014 (edited) - Edited July 8, 2019 by Timoric 1 Quote Link to comment Share on other sites More sharing options...
Urbannizer Posted October 23, 2014 Share Posted October 23, 2014 The webpage for 609 Main has been updated: http://609mainattexas.com/ 8 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 23, 2014 Share Posted October 23, 2014 Sexy... Quote Link to comment Share on other sites More sharing options...
monarch Posted October 23, 2014 Share Posted October 23, 2014 this is all that i can think of whenever i view anything regarding this wondrous edifice... glass, class, and the bottom line... Quote Link to comment Share on other sites More sharing options...
Sky-guy Posted October 23, 2014 Share Posted October 23, 2014 Wow! An Interior Reflecting Pool? and did we know we were going to have GFR? Quote Link to comment Share on other sites More sharing options...
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