Prominent international law firm signs 10-year lease
FORT WORTH, TX, (March 10, 2011) – Crescent Real Estate Holdings LLC announced today that Fulbright & Jaworski L.L.P. signed a lease renewal of 299,676 square feet to remain the named customer at Fulbright Tower in Houston’s Central Business District. Debbie Wilson and Bob Boykin of Crescent represented the owner, Crescent 1301 McKinney, L.P. while Jim Bailey & Tim Relyea of Cushman & Wakefield represented Fulbright & Jaworski.
“Crescent Real Estate and Fulbright Tower are pleased to renew Fulbright & Jaworski as our named customer in Fulbright Tower and as a significant anchor for Crescent’s Houston Center portfolio,” said Debbie Wilson, Crescent’s vice president of leasing for Houston Center.
Fulbright moved to Houston Center in 1986. It was one of the first large firms to see the enormous potential of Houston Center and the developing east side of downtown Houston, according to Wilson.
“It was uncommon 25 years ago to move east of Main Street, even only four blocks,” said Steven B. Pfeiffer, the Chair of Fulbright’s Executive Committee. “We recognized the potential of Houston Center a quarter of a century ago and are pleased we will remain an anchor in this vibrant area of downtown for years to come.”
“It is important that we retain our long-term customers, especially a customer like Fulbright & Jaworski which is deeply entrenched in Houston history,” Wilson said. “Fulbright is a premier anchor for Houston Center’s four office towers with 4.2 million square feet of Class A office space.”
According to Wilson, Crescent and Fulbright agreed to the deal at year-end and recently secured approvals to announce the signing that extends Fulbright’s lease through February 2024.
“Crescent Real Estate is excited to kick off the 2011 real estate announcements with a significant – nearly 300,000 square foot – lease renewal with such a prestigious international law firm remaining an anchor for Houston Center,” said Bob Boykin, managing director of leasing for Crescent. “Crescent ended 2010 with noteworthy lease renewal activity and the addition of new customers. We are pleased to start 2011 with another major lease renewal for the Houston real estate market. Getting an international law firm with a significant presence in Houston committed to a long-term lease demonstrates that Houston real estate is returning to positive levels.”
Houston Center has a diverse mix of notable firms in the oil, gas, and petrochemical industries, as well as the accounting, financial, engineering and design industries making it convenient for Houston Center customers to conduct business transactions. The additional convenience of location directly adjacent to the City of Houston’s most modern urban development makes Houston Center a prime downtown Houston office property. Discovery Green, Toyota Center and Houston Pavilions entertainment center as well as the expanded and refurbished George R. Brown Convention Center provide entertainment options for downtown employees and visitors.
In 2010 Fulbright Tower earned Gold certification as Leadership in Energy and Environmental Design for Existing Buildings (LEED EB) from the U.S. Green Building Council. Fulbright Tower was completed in 1982 and occupies a full city block within Houston Center. The tower features 52 floors of Class A office space, two underground parking levels, and dramatically appointed lobby with landscaped areas. Houston Center is a 4.2 million square-foot Class A office complex with four office towers located in the heart of the Central Business District in Houston, TX and is currently 91% leased. The multi-block complex has been artfully developed according to classic design principles as an exciting urban environment for people. For more information, visit the Houston Center website at www.houstoncenter.com
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of 35 premier office buildings totaling over 17 million square feet located in select markets across the United States with major concentrations in Dallas, Houston, Denver and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; luxury hotels; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent’s website at http://www.crescent.com.
Founded in 1919, Fulbright & Jaworski L.L.P. is a leading full-service international law firm, with nearly 900 lawyers in 16 locations in Austin, Beijing, Dallas, Denver, Dubai, Hong Kong, Houston, London, Los Angeles, Minneapolis, Munich, New York, Riyadh, San Antonio, St. Louis and Washington, D.C. Fulbright provides a full range of legal services to clients worldwide.