And suddenly, Houston Pavilions gets some action:
NRG Texas and Reliant, NRG’s retail electric company, have agreed to lease 240,000 square feet of the 11-story Pavilions Tower, which comprises most of the building at 1201 Fannin.
NRG/Reliant will take 10 floors. The law firm Sheehy, Serpe & Ware has the top floor.
The bottom three floors of Pavilions Tower have always been designated as “swing space,” which could have been used for retail or office space, Houston Pavilions co-developer Geoff Jones said. NRG/Reliant will take all of the swing space, as well as some additional space on the second floor that initially had been designated for retail, Jones said.
How much of that lonely and vacant retail “additional space” on the second floor is being turned into office space?
* * *
Enough that the entire complex is now 81 percent leased, Jones tells the Chronicle’s David Kaplan. Let’s see: Pavilions press releases claim 360,000 sq. ft. of retail space and 200,000 sq. ft. of office space. There’s 22,701 sq. ft. of net rentable area on each office floor. Anyone want to do the math?
The largest chunk of the 1,000 new office workers will be coming from 7 full floors of the former Reliant Energy Plaza building (now named RRI Energy Plaza) at 1000 Main.
- Stroke of pen fills Houston Pavilions office tower [Houston Chronicle]
- Houston Pavilions coverage [Swamplot]
Photo: Houston Pavilions
5 Comments
Good news.
The influx of a 1000 new workers my help the developments retail tenants.
Good for them. this was beginning to look like a $190,000,000 disaster.
kjb - maybe not. 1000 Main is just one block away
Those retail tenants can dream can’t they?
A block means a lot downtown, especially to workers walking in the Summer heat or rain. Since the Pavillions decided not to engage the tunnel system, those 1000 workers will surely patronize the retail. I’m guessing this will speed up retail leasing.