1100 Louisiana is a 55-story, 1.3-million-square-foot office building bounded by Louisiana, Dallas, Smith and Lamar streets in Houston’s Central Business District.
Developed in 1980 by Hines The tower is clad in polished Spanish Rose granite with rose-colored windows. 1100 Louisiana is connected to the tunnel system, with its convenient 45,500 square feet of retail space and service centers, as well as passageways to stores and other office buildings and the 2,234-car parking facility adjacent to the building.
The south and east curtain wall contains a series of large stepped bays at the top of the building. The tower rises from a garden-like water plaza that occupies almost a quarter of the block. It was designed by Gensler, in collaboration with James Burnett Landscape Architects, and the fountain by WET Design, who is known for the fountains at the Bellagio in Las Vegas.
Tenants and visitors may enter the tower’s dramatic lobby where four banks of elevators, with a total of 27 passenger cabs, provide efficient service to the office floors above. Two shuttle and two freight elevators also serve the tower. Each floor of 1100 Louisiana offers approximately 22,000 square feet of flexible space with 9-foot ceiling heights.
In 2009, this building was awarded LEED certification at the Gold level by the U.S. Green Building Council.
1100 Louisiana
- Total Square Feet: 1,261,674
- Floors: 55
- Available Square Feet: 36,315
- Range of Space: 4,295-16,712
- Maximum Contiguous: 16,712
- Quoted Rental Rate: $28.00 Net
- Operating Expenses: $11.74
- Parking: 1.8:1000 Ratio, $175.00-$250.00 per month
Leasing Agent: Hines Interests
Property Manager: Hines Interests
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Mixed signals, where do we go from here?
by CoyDavidson on February 7, 2010
Let’s take a quick rewind of some of the key economic news that has been reported since the first of the year. On January 17th in a story reported in the Houston chronicle, longtime Texas economist Ray Perryman predicted that the Texas economy would be the first to recover, and not to expect a huge rebound but rather a slow steady recovery. A week later in another Houston Chronicle story it was reported the Houston economy added jobs for the 4th consecutive month. However we did lose 93,000 jobs in Houston during 2009. Just last week it was reported the economy grew in the 4th quarter faster than it had in six years and the national jobless rate unexpectedly dropped to 9.7% from 10% the month before. However, as I outlined in my blog post Obama, NASA and the Clear Lake Office Market the potential for thousands of job losses locally with President Obama’s plan to cancel the Constellation program at Johnson Space Center.
What about the office space market?
In mid January Colliers International released its 4Q 2009 Houston Office Market Report and just last week our 4Q 2009 North American Office Highlights. What did these reports tell us? Well it was not a good year for the Houston office market and certainly for most major office markets around the country and Canada. However, what can be gleaned from the reports is that we are starting to see the early signs of stabilization. Houston reported 1.16 million square feet of negative absorption in 2009. However, all though minimal Houston reported positive absorption of office space (236,880 SF) during the 4th quarter of 2009, but this is offset by a growing inventory of sublease space. Houston actually posted positive absorption in 2008 as we were one of the last places to feel the recession, as most markets around the country started the negative absorption trend in early 2008.
The reports also reveal that Houston has not experienced the same percentage of depreciation in rental rates in 2009 that were felt around many major markets around the country. Let’s compare Houston with a few major markets for Class A office rental rates:
Where do we go from here?
I tend to be a “glass half full” kind of guy but the consensus appears to be that the economic recovery has clearly begun and the only debate centers on the velocity of the recovery. Will it be a slow bumpy ride as many predict or could we see a return of significantly improved economic conditions much sooner than most anticipate? Despite majoring in economics at the University of Texas I don’t pretend to know nor will I venture even a slightly educated guess. However, I have been advocating since last August for office tenants and industrial tenants as well to get into the marketplace now, if at all feasible to take advantage of current market conditions while the window of opportunity still exists. Just in the month of January we have seen some of Houston’s largest employers announce major real estate decisions beginning with KBR’s announcement to scrap its West Houston campus plans and expand their space downtown. This followed by Anadarko’s announcement they have purchased their Woodlands headquarters building and while ExxonMobil has made no formal announcement it is widely believed to be certain that they are planning a massive office campus on a land tract they purchased just south of the Woodlands.
Currently most Houston Landlords are in “deal making” mode offering lower rates and more liberal concession packages than in the past and this climate has really only been in existence in Houston for about 3 quarters. While I don’t believe we will get back to 2007 / 2008 rent levels over night, I do believe the liberal concession packages will dissipate quickly if we continue to get positive economic performance both locally and nationally. As, I have been saying for months the “Opportunity is Now”.
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