Timoric Posted December 15, 2015 Share Posted December 15, 2015 (edited) - Edited July 10, 2019 by Timoric 6 Quote Link to comment Share on other sites More sharing options...
Popular Post Nate99 Posted December 17, 2015 Popular Post Share Posted December 17, 2015 15 Quote Link to comment Share on other sites More sharing options...
monarch Posted December 17, 2015 Share Posted December 17, 2015 ^^^ steady as she goes.... Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted December 18, 2015 Popular Post Share Posted December 18, 2015 Via Flickr: Right Place, Right Time! by Raul Cano, on Flickr 17 Quote Link to comment Share on other sites More sharing options...
wxman Posted December 21, 2015 Share Posted December 21, 2015 In that last picture, it sort of gives you an idea of what 6 Houston Center would have looked like given the same general location and the building being about 30 stories tall now. Not much impact. Quote Link to comment Share on other sites More sharing options...
Triton Posted December 21, 2015 Share Posted December 21, 2015 Major tenant signed! http://www.bizjournals.com/houston/morning_call/2015/12/hines-spec-office-tower-under-construction.html 5 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 21, 2015 Share Posted December 21, 2015 Top two floors? I assume the price per square foot increases the higher the floor? I wonder how much they're paying... Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted December 21, 2015 Share Posted December 21, 2015 Top two floors? I assume the price per square foot increases the higher the floor? I wonder how much they're paying...It will be about $60.00/SF all-in Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted December 22, 2015 Popular Post Share Posted December 22, 2015 Houston Downtown Panorama by Michael Lin, on Flickr 13 Quote Link to comment Share on other sites More sharing options...
jt16 Posted December 22, 2015 Share Posted December 22, 2015 (edited) It will be about $60.00/SF all-inHoly cow. Are new AA buildings really commanding that kind of rent downtown? In the current environment, why would anyone pay $60/ft in Houston? Edited December 22, 2015 by jt16 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted December 22, 2015 Share Posted December 22, 2015 Holy cow. Are new AA buildings really commanding that kind of rent downtown? In the current environment, why would anyone pay $60/ft in Houston?On the top floors of this project, you bet. This is going to be an incredible building, and the types of tenants that want to be here are the Kirkland Ellis's of the world - large national law firms that are used to paying these rents in SF, NYC, CHI, LA. Also we will likely see Large Institutional Banks, Investment Banks, PE groups, and possibly your Lead Tenant energy company (although that may be a little ways off). 2 Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted December 22, 2015 Share Posted December 22, 2015 Sorry for quoting the picture but it looks like Frank Gehry has begun his work on 600 Travis. Speaking of which, the first tenant will be moving from, and have nice views of their old office. Quote Link to comment Share on other sites More sharing options...
Popular Post The Pragmatist Posted December 22, 2015 Popular Post Share Posted December 22, 2015 (edited) What current environment, low oil? That's never stopped Houston before...and certainly isn't stopping a much more diversified Houston today. Just like sometimes Hollywood slows but LA always strikes back as it continues to build/grow...and just like Wall Street goes up/down and slows but NY continues to build/grow...so too temporary low oil has slowed things in Houston, not dried them up. The show must and will go on in a diversified city like Houston. It's not 1980 again, Houston isn't waiting on oil to control all its fortunes anymore. Hines, his new tenants, and many others understand this and its business as usual. That's why in spite of whatever oil does, ground keeps breaking and cranes continue to fly. Houston's a big boy, a grown up. Things are slower, but steadily going up. I really have to question if you're a troll or not. Your near-term outlook makes monarch's ultra-optimistic posts seem downright morose in comparison. Edited December 22, 2015 by The Pragmatist 10 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 22, 2015 Share Posted December 22, 2015 I really have to question if you're a troll or not. Your near-term outlook makes monarch's ultra-optimistic posts seem downright morose in comparison. I can understand how you especially are confused, Mr. Pragmatist. 4 Quote Link to comment Share on other sites More sharing options...
urbanize713 Posted December 22, 2015 Share Posted December 22, 2015 art I can understand how you especially are confused, Mr. Pragmatist. 1 Quote Link to comment Share on other sites More sharing options...
The Pragmatist Posted December 22, 2015 Share Posted December 22, 2015 Yes, I suppose you've balanced the scale of positivity. It's a scale that starts on the low end at "great" and goes to a high end of "nirvana." 2 Quote Link to comment Share on other sites More sharing options...
monarch Posted December 22, 2015 Share Posted December 22, 2015 ^^^ ultra optimism rocks! 5 Quote Link to comment Share on other sites More sharing options...
jt16 Posted December 22, 2015 Share Posted December 22, 2015 Agreed...and you'd better be strong. Houston is very strong, and continues to confound the 'wise.'Real estate in this town is in much worse shape than I think you realize. There's over one million sq feet in the energy corridor you can get dirt cheap. And poaching one tenant from one class a building to a new under construction building isn't a sign of strength. Residential real estate is down for the first time in years. This town has some rough times coming up. It's not doom and gloom because we are much more diversified, but oil is by far the economic driver. 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted December 22, 2015 Share Posted December 22, 2015 (edited) Real estate in this town is in much worse shape than I think you realize. There's over one million sq feet in the energy corridor you can get dirt cheap. And poaching one tenant from one class a building to a new under construction building isn't a sign of strength. Residential real estate is down for the first time in years. This town has some rough times coming up. It's not doom and gloom because we are much more diversified, but oil is by far the economic driver. You sure make it sound like doom and gloom. ;-) And fwiw, the I think the tenant being "poached" is also roughly tripling their square footage, so it actually is a bit of a sign of strength. I know of situations in another major city whose economy is generally perceived as firing on all cylinders where all of the new construction center city class a office space is being filled by poaching, and in almost all cases the poached tenants are reducing their square footage in the moves. Edited December 22, 2015 by Houston19514 3 Quote Link to comment Share on other sites More sharing options...
jmitch94 Posted December 22, 2015 Share Posted December 22, 2015 I wonder if Houston will ever see towers like Well's Fargo Plaza, Bank of America Tower or Chase tower. 609 Main is is the largest building built in the past few decades, yet it pales in comparison to those other towers. Not only are they taller they are just much bigger. I'm not knocking 609 FYI, I'm very grateful for his sleek tower. Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted December 23, 2015 Share Posted December 23, 2015 (edited) I wonder if Houston will ever see towers like Well's Fargo Plaza, Bank of America Tower or Chase tower. 609 Main is is the largest building built in the past few decades, yet it pales in comparison to those other towers. Not only are they taller they are just much bigger. I'm not knocking 609 FYI, I'm very grateful for his sleek tower. The only way they are bigger is that they are taller. The floor plates of 609 Main @ Texas are about 28,000 square feet. Wells Fargo Plaza I think is about 25,000 sq feet. I think 600 Travis (the former Chase Tower) is closer to 22,000 square feet. And 609 Main is supposed to be only 24 feet shorter than Bank of America Center, so it doesn't exactly pale in comparison. Edited December 23, 2015 by Houston19514 Quote Link to comment Share on other sites More sharing options...
cloud713 Posted December 23, 2015 Share Posted December 23, 2015 I really have to question if you're a troll or not. Your near-term outlook makes monarch's ultra-optimistic posts seem downright morose in comparison.Seriously.. Quote Link to comment Share on other sites More sharing options...
cloud713 Posted December 23, 2015 Share Posted December 23, 2015 Yawn. The same can be said for just about everywhere in America. Every town in this sluggish US economy has at least another year of this horrible administration to suffer, Houston and Texas included. Now, about the good news at 609 Texas at Main...Brah.. The same cannot be said for "just about everywhere in the U.S.". Enough with the ignorance. Houston is hurting and oil is the primary reason. Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 23, 2015 Share Posted December 23, 2015 You are a master in deflection and I do not mean that in a negative way. Like, honestly, it's pretty god damn impressive and I respect that. 3 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 23, 2015 Share Posted December 23, 2015 artHTXUSA is this ur alt account? 1 Quote Link to comment Share on other sites More sharing options...
Triton Posted December 23, 2015 Share Posted December 23, 2015 (edited) America is hurting, Houston and Texas included. If it's not obvious by now, it's the rest of the US economy that is keeping us afloat. Although the GDP was likely only 2.0% this 3rd quarter, there is still solid growth in the economy. Commodities, the things that Houston and the ship channel rely on, have been doing dismally bad this year and they will into next year. I still have hope that we'll get out of this rough patch come 2017. And the economy is on topic... it will be a major factor on how successful this tower will be. Can't find the article now but several towers were sitting nearly vacant (was it Heritage Plaza?) for several years because of the oil bust. Edited December 23, 2015 by Triton Quote Link to comment Share on other sites More sharing options...
cloud713 Posted December 23, 2015 Share Posted December 23, 2015 No that's not obvious, it's silly. Houston has several other major economic sectors, keeping it afloat. The US economy sucks (if it's not obvious by now), many people and communities are hurting across America. Healthy GDP is 4-5%, not 2. That's not solid...that's shaky, at best. I'm hopeful too that the US economy and oil both rebound, to at least 4% and $60, respectively. However, the fact that Hines, his new tenants at 609 Main, and others continue to believe in Houston and fill its towers at the highest levels, is good news for Houston...and bad news for its haters (including those masquerading on HAIF). No offense, but do you even have anything to do with the industry..? There are a lot of people on HAIF with far more knowledge on the market than you, and you've been flat out ignoring or talking back to some of them. That "major" tenant that was announced accounts for a whooping 1/17th of the total buildings square footage. Hardly what i would call "major".. maybe a "fraction" would of been better wording. By the way, I'm far from a Houston hater. In fact I often get ragged on by my friends for liking the city too much, but I'm also a realist, and sometimes reality hurts. 3 Quote Link to comment Share on other sites More sharing options...
CREguy13 Posted December 23, 2015 Share Posted December 23, 2015 Yes I am in the industry. And no offense, but there's always someone more knowledgeable, and not as knowledgeable, than each of us...just be smarter. And yes, Hines' new 609 Main client is a fraction of total square footage, but it's 'major' because it's a coup to have landed them to a spec building in a slowdown-- OVER A YEAR BEFORE COMPLETION! That's 'major!' And it's good you say you're not a Houston hater, although they do lurk about HAIF.Well HTXUSA, I really enjoy your optimism then. I am in the commercial office market, and the last 12 months have been rough and 2016 will be worse from a transaction standpoint. Keep up the great attitude! 2 Quote Link to comment Share on other sites More sharing options...
BigFootsSocks Posted December 23, 2015 Share Posted December 23, 2015 (edited) Agreed, we're all going to need it. If Houston holds in 2016 as good as it did in 2015, we'll make it to new administration that's not trying to kill Texas and Israel....h...Hiii...*ahem*...Hiiiiiiiiiit *AHEM* Sorry, something stuck in my throa-HITLER Edited December 23, 2015 by BigFootsSocks Quote Link to comment Share on other sites More sharing options...
monarch Posted December 23, 2015 Share Posted December 23, 2015 ^^^ hey my good pal HTXUSA, i cannot help but ask if whether or not if you are hearing anything regarding our new and forthcoming luxury hotels?? i just cannot wait to feast my eyes upon the newly prospective renderings of the RITZ CARLTON projected towards ROD. i am praying that this happens... Quote Link to comment Share on other sites More sharing options...
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