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Yesterday, Lionstone Investments, owner of the iconic art deco Gulf Oil Building (now known as JPMorgan Chase), announced major renovations. Midway Cos will be bringing its mixed-use prowess to the 37-story tower, which will be connected to the adjacent historical building, 708 Main. The two buildings combined are 84% leased, according to the Houston Chronicle. The two buildings together will be rebranded as Jones on Main. Colvill Office Properties will handle leasing.
The renovation in the state landmark is focused around creating an environment that works longer than the typical workday. That means an updated interior, co-working spaces, new retail spaces and street-level restaurants. JPMorgan Chase will remain the primary tenant, occupying nearly 481k SF.
This is Lionstone and Midway's second partnership Downtown; Lionstone invested in Midway's GreenStreet project (which includes the under-construction Hotel Alessandra) last year.
Midway chairman Brad Freels is speaking at Bisnow's Future of Downtown event May 25 at the Hilton Americas--sign up here to hear him discuss this project in more detail!
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