News Summary
International law firm Skadden, Arps, Slate, Meagher & Flom has signed a lease to occupy 52,000 square feet in Houston’s Texas Tower. With this agreement, the building has reached 99% occupancy within three years of its opening. The legal powerhouse plans a $9 million build-out, with construction set to begin in summer 2025. Texas Tower has become a sought-after business hub, featuring luxury amenities and an impressive roster of tenants, signaling a bright future for the downtown Houston office market.
Houston Welcomes Skadden to Texas Tower!
Hey there, Houston! Get ready for some thrilling news in the heart of our great city. International law firm Skadden, Arps, Slate, Meagher & Flom is making a big splash by moving into the dazzling Texas Tower, a 47-story office marvel located at 845 Texas Ave. With Skadden deciding to call this place home, the Texas Tower is soaring high, reaching an impressive 99% occupancy just three years after it opened its doors back in December 2021. Isn’t that something to cheer for?
A Whopping Lease and Major Plans
Skadden is really going all out with a lease that covers an amazing 52,000 square feet spread over two whole floors—floors 18 and 23. This sprawling space is perfect for tackling all their legal adventures! But hang on—there’s even more excitement. The estimated cost for the office build-out is a jaw-dropping $9 million. Yes, you read that right! This extensive project will cover about 42,000 square feet of their leased area, ensuring it’s just right for the dynamic work life of the legal team.
Mark Those Calendars: Construction Timeline
Ready for a little wait? Construction is gearing up to begin in the summer of 2025, with a planned wrap-up by the end of that same year. Skilled professionals will be working diligently to prepare everything just for Skadden’s crew, who will officially kick-off their stay in April 2026. So, make a note of it! Houston is ready to welcome this major law firm with open arms.
Texas Tower is All the Rage!
With this latest lease signing, Texas Tower is experiencing skyrocketing popularity in the office market. The tower boasts a substantial 1.2 million square feet of office space, and the addition of Skadden shows just how desirable it has become. Currently, there are only a couple of spec suites available, totaling 18,000 square feet—dropping fast!
As the visionaries behind Texas Tower, Hines continues to play a pivotal role in the tower’s success. Along with Skadden, the property hosts a variety of esteemed tenants like Vinson & Elkins, McGuireWoods, and DLA Piper, to name a few. Oh, let’s not forget some hometown favorites like Cheniere Energy Inc. and Morgan Stanley. And there’s a hush-hush tenant, adding to the intrigue! You can hardly ignore the bustling coworking space, The Square at Texas Tower, which is thriving with an occupancy rate over 98%.
Luxurious Amenities to Die For!
But hold on—Texas Tower isn’t just about working hard. It’s about enjoying a fantastic experience too! This chic building features a myriad of luxury amenities that will make anyone feel pampered. Think stunning public gardens on the 12th level, a well-equipped health club, and a top-notch conference center. Plus, with cozy lounge areas and a variety of dining options, it’s all about keeping employees energized and happy. Designed to feel more like a five-star hotel than just another office building, Texas Tower is truly setting the bar high!
Bigger Developments on the Horizon
And the excitement doesn’t end here! Another prestigious firm, Clifford Chance, is also making plans to join the Texas Tower community, coming in hot with a lease that features a staggering $20 million build-out for their own space. The demand for quality office spaces is clearly on the rise and Texas Tower is standing at the forefront of this trend!
So, here’s to Houston—our city is buzzing with energy as more companies flock to be a part of the vibrant Texas Tower community. With its sleek design and exceptional facilities, it’s easy to see why businesses are clamoring to be a part of this innovative workspace. Stay tuned, because the future is looking bright and there are definitely big things ahead!
Deeper Dive: News & Info About This Topic
