TC Energy Center: Downtown Skyscraper At 700 Louisiana St.

[IntheKnowHouston]

TC Energy Center at 700 Louisiana St is for sale again, according to marketing materials from JLL.


More from a CoStar article yesterday (it's behind a hard paywall):

 

A trophy high-rise office tower in downtown Houston is on the market and is being offered for $285 million, according to marketing materials recently published online by JLL.

M-M Properties, a real estate company based in the Houston suburb of The Woodlands, Texas, is offering its 56-floor high-rise at 700 Louisiana St. in downtown Houston for nearly $223 per square foot, according JLL’s investment offering. TC Energy Center, as the building has been called since 2019, has been owned by M-M Properties since 2007.

...A JLL spokesperson declined to confirm when the building was put up for sale, although the timing of the listing likely coincides with the building's loan maturing last month.

M-M Properties did not immediately respond to a request for comment, but TC Energy Center was one of two buildings used as collateral for a recently delinquent commercial mortgage-backed securities loan earlier this year.


https://www.costar.com/article/1385982738/signature-downtown-houston-high-rise-is-up-for-sale

Edited October 27, 2023 by IntheKnowHouston

[IntheKnowHouston]

49 minutes ago, IntheKnowHouston said:

TC Energy Center at 700 Louisiana St is for sale again, according to marketing materials from JLL.

 TC Energy Center at 700 Louisiana St is on the market. The Alley Theatre Center garage is also available for sale. 

 

Investment Highlights:
 

• Investment Highlights Building Revitalization
  
  Over $22M has been invested in an extensive, multiphase renovation program to completely transform and revitalize the building’s former banking hall, and Western Union Building.
  
   
• Industry Leading Sustainability
  
  TC Energy Center implements green building practices in a uniquely classic building. The building is LEED Gold certified, WELL Health Safety rated, and has high efficiency building systems in place.
  
   
• Diversified Rent Roll
  
  Tenants in TC Energy Center represent a favorable mix of industries with limited exposure to the energy industry at 38.8%. Outside of energy, the property is not heavily made up of any single industry, with the biggest representation from law firms and financial companies.
  
  
   
• Prime North Downtown Location
  
  TC Energy Center is optimally located in the heart of downtown Houston’s lively Theatre District. The building benefits from vibrant streetscapes and walkable amenities including restaurants, food halls, hotels, and entertainment venues.
  
   
• Versatile Floor Plates
  
  The tower boasts highly efficient rectangular floor plates and also offers more creative and unique spaces. TC Energy Center offers a wide array of office spaces able to suit a diverse range of tenant needs.

https://invest.jll.com/us/en/listings/office/tc-energy-center

https://res.cloudinary.com/jll-global-cmg/image/upload/v1663686308/IC/Img/Original/vxcwegonldxucqdqjm41.pdf

 

[IntheKnowHouston]

Below are photos included in the listing for TC Energy Center. The skyscraper is located in downtown Houston at 700 Louisiana St. 

[hindesky]

The owner of one of Houston’s most recognizable skyscrapers has renogotiated a $252 million loan tied to the tower that had been on the verge of default. 

At a time of ongoing upheaval in the office market, the deal between M-M Properties and lender Starwood Property Trust offers a more certain future for the 56-story TC Energy Center at 700 Louisiana.

https://www.houstonchronicle.com/business/real-estate/article/700-louisiana-houston-tower-loan-deal-18695667.php

[hindesky]