Bank Of America Center Bounces Back With Expansion And Renewal Activity
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With its namesake tenant vacating in 2019, Bank of America Center has had many in Houston asking questions. Now we have answers, and they include a lobby redo. TransCanada signed an additional lease to expand its office by approximately 82K SF on three floors. Earlier this year, TransCanada signed a 22K SF expansion in the building.
Consulting firm Alvarez & Marsal recently extended its lease and expanded to 50K SF. Arnold & Porter moved from sublease space within the building to a direct lease of 21K SF on floors 40 and 41.
The asset is now over 91% leased, with PMRG completing 192K SF of leasing since Bank of America's decision to vacate.
TransCanada was represented by JLL's Louis Rosenthal and Bruce Rutherford. Rosenthal and JLL's John Burke represented Alvarez & Marsal. CBRE's Kevin Saxe represented Arnold & Porter. PMRG's John Spafford represented the building's ownership in all transactions.
"We are fortunate in today’s office market to have tenants that are growing,” Spafford said. "The bank's departure provides an opportunity for some modifications to the lobby, and plans for those modifications are in the works and expected to be announced in the near future.”