This Week’s Houston Deal Sheet: Texas Tower Secures Leases Totaling 183K SF
Texas Tower, a 47-story, 1M SF office tower in Downtown Houston developed by Hines and Ivanhoé Cambridge, is now 94% leased with the addition of six tenants.
Houston-based independent upstream company Sable Offshore Corp. leased 46K SF on levels 28 and 29 beginning in the third quarter of 2025. Lease negotiations were facilitated by CBRE's Kevin Kushner, William Padon and Sydnee Hilburn alongside landlord broker Michael Anderson of Cushman & Wakefield.
Moelis & Co., an independent investment bank, leased 30K SF on level 22. The lease is set to commence in Q4 2025. Cushman & Wakefield handled lease negotiations, with David Guion and Chris Oliver representing the tenant and Anderson representing the landlord.
Sheppard Mullin, a full-service law firm with more than 1,100 attorneys in 16 offices, leased 30K SF on level 25, with occupancy beginning in Q4 2025. Kushner, Padon and Hilburn represented the tenant in lease negotiations, while Anderson acted as the landlord’s broker.
Squarepoint Capital also leased 8,200 SF.
Two other tenants remain confidential, according to a press release. The six tenants together leased about 183K SF.
“Texas Tower underscores our strategic investment focus on the evolving office market in the United States,” Michael Caracciolo, managing director of U.S. real estate for Ivanhoé Cambridge, said in the release. “Its prime location, exceptional sustainability credentials, and hospitality-centric services continue to attract top-tier tenants.”
SALES
Jackson-Shaw Development Co. bought 38 acres in Southeast Houston with access to Barbours Cut and Bayport Container terminals. Lee & Associates’ C.E. “Trey” Erwin III and Justin Tunnell represented the seller.
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Buchanan Capital Partners, an Austin-based commercial real estate investment firm, acquired Crenshaw Grand Apartments in Pasadena in an off-market deal. The 264-unit property was built in 2016, according to Apartments.com.
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Woodmere Development Co., a residential developer, acquired 95 acres at 26119 Decker Prairie Rosehill Road in Magnolia for a single-family subdivision. MLB Commercial Real Estate’s Tommy LeBlanc and John-Michael Kamel represented the sellers.
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Sagard Real Estate, formerly EverWest Real Estate Investors, acquired Pearl at Midlane, a mid-rise, 330-unit apartment in the River Oaks area. The property was built in 2009 and renovated in 2021.
Sagard plans to upgrade common areas and amenities. Greystar will handle property management.
LEASES
Texas Oncology leased 35K SF of medical office space from NewQuest Properties in Webster Town Center at the intersection of Interstate 45 and Texas Avenue in Webster. Kevin Sims and Nick Ramsey of NewQuest represented the landlord. Nelson Udstuen and Lindsay Arbour of CBRE represented the tenant.
CONSTRUCTION & DEVELOPMENT
Sueba USA opened San Paseo, a residential community at 1724 Partnership Way in Katy. The community has 273 apartment units and 20 two-story townhomes. San Paseo offers studio, one-, two- and three-bedroom apartments, ranging from 496 SF to 2,088 SF.
Amenities include a resort-style pool, a lap pool, coworking spaces, a podcast room and a coffee bar.
THIS & THAT
Art Club, a visual arts destination and nightlife experience, will open Dec. 7 in a 29K SF space at Post, the former post office redeveloped into a cultural center and entertainment venue in Downtown Houston. The two-story art space and nightclub will be in Post’s X-atrium.
Art Club was founded and curated by Kirby Liu, the director of Post.
“With the exception of Houston, thriving downtowns of major cities are almost always anchored by a museum,” Liu said in a news release. “Art Club is a fusion of art museum, performing arts venue, and entertainment facility.”
