Texas Tower Signs Two New Office Tenants

Leasing momentum continues as Cushman & Wakefield and Sixth Street Partners join robust tenant roster

(Houston) – Co-developers and global real estate firms, Hines and Ivanhoé Cambridge, announced today two tenants, Cushman & Wakefield and Sixth Street, have signed leases totaling 12,300 square feet at Texas Tower, the new 47-story, one-million-square-foot, Class AA office tower in downtown Houston.

Global real estate services firm Cushman & Wakefield will occupy 6,500 square-feet on the 40th floor of Texas Tower. With nearly 50 years in operations in the Houston market, this location will serve as the firm’s first downtown Houston outpost and will complement its existing office in the Galleria/Uptown area.

Sixth Street, a global investment firm with over $60 billion in assets under management, has leased 5,800 square feet on the 29th floor. Founded in 2009, Sixth Street uses its long-term flexible capital to offer differentiated capital solutions to companies across all stages of growth. Through its dedicated energy investing team based in Houston, Sixth Street invests in and partners with energy companies to finance, acquire, develop, and operate energy-related assets.

“Leasing velocity remains strong as Texas Tower continues to attract industry-leading companies seeking a distinct destination for their employees to collaborate and build community,” said Hines senior managing director John Mooz. “Houston is a key city leading the return to office in the US, and we are proud to provide the curated, dynamic and amenity-rich environment tenants continue to want and need for their employees and business to thrive.”

In response to significant leasing demand for move-in-ready, top-tier office space, plans are underway to build out an additional 40,000 square feet of spec suites at Texas Tower. Designed by Gensler, these fully furnished offices provide a turnkey solution for companies seeking magnetic, collaborative office environments. The new inventory of move-in-ready office suites will range in size from 4,600 to 12,000 square feet and are slated for completion in the second quarter of 2023.

"Texas Tower offers everything an office worker needs – driving our tenants' advantage. With connected and configurable spaces across the lobby, the terraces, and other spaces in the building, tenants can offer their employees countless opportunities for constructive collisions and places to work," said Charlie Musgrave, Vice President, Office Leasing at Ivanhoé Cambridge. "We are proud to offer such a differentiated office experience in Houston and to continue to welcome top-tier tenants and their talent."

As the newest addition to the Houston skyline, Texas Tower, opened in December 2021 and features an active, hospitality-centric lobby, serviced flexible workspaces, expansive outdoor terraces and innovative common-areas. Designed by Pelli Clarke & Partners, and will achieve the highest designations for LEED, WiredScore and WELL certifications.

Sixth Street was represented by Joe Rambin with Moody Rambin and Chad Beck with Cushman & Wakefield. Michael Anderson with Cushman & Wakefield represented Hines and Ivanhoé Cambridge, the building developers and owners.

Texas Tower recently welcomed Hines employees to the firm’s new 180,000 square-foot global headquarters joining Vinson and Elkins, McGuireWoods and DLA Piper law firms. Other signed tenants include Cheniere Energy, Inc., Chicago Title, Charter Title Company, Novak Druce and a trading company.

For more information, including leasing details, visit https://texastower.com/.

About Hines

Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling over 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,200 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held close to C$69 billion in real estate assets as of December 31, 2021 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.