LTAWACS Posted March 19, 2008 Share Posted March 19, 2008 If they got Devon to sign, that alone would cover the 50% needed for construction to start, I would think.Perhaps. But to consider... how much space does Devon have in total in the downtown or other submarkets in the region? Would they consolidate? Or just increase their workspace? Link to comment Share on other sites More sharing options...
swtsig Posted March 21, 2008 Share Posted March 21, 2008 No insider knowledge at all. Just trying to use some common sense since their website hasn't been updated. I am totally guessing that they are now focusing their attention on the trophy site (gateway) but are making the building much larger and scrapping plans to try and market 2 buildings simultaneously. Brookfield was the first to "announce" but have now fallen behind Hines (Main Place), Crescent (6 Houston), and Trammell Crow (Discovery). They were the only developers of the 4 who said they wouldn't start without pre-leasing. That means they've been shopping something to prospective tenants and I would imagine that there is a rendering out there showing a 50 story, glass enclosed, LEED Certification seeking tower in one of the last, most visible plots of land in downtown.The one ace they seem to hold is Devon Energy. That company currently leases in one of Brookfield's Allen Center towers. It's widely known in real estate circles that Devon is looking for more space. I would imagine that a trophy tower that would make a significant impact on the skyline and could "NEVER" be blocked from the Western view would be appealing to Devon. It would also likely be appealing since their employees know the area and they know the landlord. Of course, what we don't know is if Hines, T-C, and Crescent have made plays to land Devon. If any of them have and they're able to land Devon in their new towers, it is likely that the 50 floorer wont ever make it out of the ground.you sound very well informed. Link to comment Share on other sites More sharing options...
citizen4rmptown Posted July 3, 2008 Share Posted July 3, 2008 any updates or has this been moved? Link to comment Share on other sites More sharing options...
lockmat Posted September 15, 2008 Share Posted September 15, 2008 Still, stocks of companies that own Manhattan real estate were hammered. Merrill's biggest landlord in New York, Brookfield Properties Corp., saw its stock plummet 18% to $17.40 Monday as of 4 p.m. New York Stock Exchange composite trading.http://online.wsj.com/article/SB1221511123...pecial_coverageI wonder if this will affect any Houston properties. Link to comment Share on other sites More sharing options...
lockmat Posted June 28, 2011 Share Posted June 28, 2011 I was listening to this investors conference call from Brookfield and they mention that next year they plan to get started on five projects and he then went on to list them. Houston was not one of them. Although many times they mentioned how great a place Houston is for leasing and they plan to purchase more, just not build I guess.http://reitstream.com/reitweek2011/brookfield Link to comment Share on other sites More sharing options...
swtsig Posted June 29, 2011 Share Posted June 29, 2011 I was listening to this investors conference call from Brookfield and they mention that next year they plan to get started on five projects and he then went on to list them. Houston was not one of them. Although many times they mentioned how great a place Houston is for leasing and they plan to purchase more, just not build I guess.http://reitstream.co...2011/brookfieldbrookfield won't do anything soon. devon is still unloading 400K RSF between two and three allen, hess is vacating 500K RSF at one allen, continental is vacating 250K+ RSF and chevron may vacate a chunk at 1600 smith.the next tower to go up will be hines and that's probably a couple years away. Link to comment Share on other sites More sharing options...
shasta Posted June 29, 2011 Share Posted June 29, 2011 Unless we get some residentail towers. This recent glut in the real estate market may now make those projects more feasible. Link to comment Share on other sites More sharing options...
lockmat Posted June 29, 2011 Share Posted June 29, 2011 brookfield won't do anything soon. devon is still unloading 400K RSF between two and three allen, hess is vacating 500K RSF at one allen, continental is vacating 250K+ RSF and chevron may vacate a chunk at 1600 smith.the next tower to go up will be hines and that's probably a couple years away.Mister X gave a minus to these comments...why? Link to comment Share on other sites More sharing options...
Houston19514 Posted June 29, 2011 Share Posted June 29, 2011 brookfield won't do anything soon. devon is still unloading 400K RSF between two and three allen, hess is vacating 500K RSF at one allen, continental is vacating 250K+ RSF and chevron may vacate a chunk at 1600 smith.the next tower to go up will be hines and that's probably a couple years away.All of that is true, but not necessarily dispositive. You are probably right that Brookfield won't do anything soon; however, if they come across a strong anchor or anchors that want space in a new tower, they will not hesitate to build, regardless of the vacancies in their existing buildings.FWIW: Chevron just extended their lease in Continental Center 1 or whatever it is called now for 311,000 square feet, so presumably they are vacating or already have vacated 150,000 sq feet. Link to comment Share on other sites More sharing options...
infinite_jim Posted July 18, 2011 Share Posted July 18, 2011 I saw a rendering on the elevator for a renovated food court at Allen Center 1. Looks like they are taking out the fountains (it's been dry for awhile now) and adding in what looks like translucent white screens in their place. Link to comment Share on other sites More sharing options...
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