Greenway Office Launches Renovations
Stream Realty announced renovations of Thirty One Twenty, a 93k SF boutique office on the Southwest Freeway in Greenway Plaza. Associate Craig McKenna is thrilled: Since he sourced the firms acquisition of the asset in August (in JV with American National Insurance Co), he was offered an ownership position and is heading up the revamp. (Stream awards ownership to transactions specialists in deals they close regardless of title or tenure; 27-year old Craig had been with the firm mere months.)
Craig tells us he was just in the right place at the right time. Before joining Stream last February, he worked at Frost Bank, and the buildings previous owner was a client. He knew it wanted out of the office game, so two weeks after joining Stream he started talks about buying the property. (In Vegas, they call that having a hot tip.) He says Stream was drawn to its location in Greenway Plaza and efficient rectangular floor plates.
Renovations are under way and will complete this fall. They include modernization of HVAC and elevators, expanding the lobby with Class-A finishes, and--his favorite part--replacing the distinctive windows. (Theyll be more efficient and no longer have a gold tint, as much as everyone likes looking like King Midas.) Craig and Adam Jackson are handling leasing, colleague Clif Kennedy is managing construction, and Ziegler Cooper provided design. Thirty One Twenty is 82% occupied, and Craig expects the capital improvements will drive further activity.