Hines’ Longest-term Office Tenant Renews Lease...Again

(HOUSTON) – Hines, the international real estate firm, announced today that Rowan Companies, Inc. has renewed its long-term lease for 78,841 square feet of office space in Williams Tower in Uptown Houston.

Rowan was represented in lease negotiations by Scott Wegmann and Trey Strake of Cushman & Wakefield of Texas, Inc.

Williams Tower was represented by Hines Vice President Chrissy Wilson and Director of Leasing Allison Knight.

Rowan has the distinction of being Hines’ longest-term tenant.

In 1969, Rowan moved into Hines’ Post Oak Tower (5051 Westheimer) and then moved to Transco Tower (now Williams Tower) in 1990.

Rowan Senior Vice President and Chief Financial Officer William H. Wells commented, “We are pleased to continue our long and mutually rewarding relationship with Hines and look forward to several more years in one of their flagship properties.”

President and CEO Jeff Hines said, “Of the millions of agreements we’ve signed with tenants since our firm’s 53-year history, this lease renewal is notable because Rowan has chosen to stay in a Hines building continuously since the late 60s. Successful relationships like this one are the bedrock of our firm.”

Williams Tower is a 1.5 million-square-foot, 64-story tower located at 2800 Post Oak Boulevard in Uptown Houston.

Rowan is a major provider of international and domestic offshore contract drilling services. The company also operates a mini-steel mill, a manufacturing facility that produces heavy equipment for the mining and timber industries, and a drilling products division that has designed or built about one-third of all mobile offshore jack-up drilling rigs. Rowan’s stock is traded on the New York Stock Exchange and the Pacific Stock Exchange. Common Stock trading symbol: RDC.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,111 properties representing more than 451 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $22.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in the LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.