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Office space is filling up quickly at Capitol Tower.
Chicago-based Winston & Strawn LLP inked a 63K SF lease at Skanska's office development in Downtown Houston. The 15-year agreement brings the office portion of the Capitol Tower to 81% leased.
“We don’t have a lot of space left," Skanska USA Commercial Development Executive Vice President Matt Damborsky exclusively told Bisnow. “I can’t remember the last time in Houston that a multi-tenant, spec office project has leased up prior to completion. We are really excited about that.”
Relocating from its office at CenterPoint Energy Plaza at 1111 Louisiana St., the law firm is expected to move into the tower in early 2020.
In addition to Winston & Strawn, Waste Management and Bank of America have both signed on as future tenants. The 35-story tower is expected to deliver in June.
Securing Bank of America last year was a key milestone that pushed the project back on track, Damborsky said.
“We started a spec office building in a fairly difficult market back in 2015,” he said. “It was a good kickoff to starting the project, which has thus far been successful."
Skanska focused on what tenants wanted as much as what the company thought they wanted, Damborsky said. The tenant-only rooftop deck, hospitality-focused conference center and Understory, a public, open-air community hub, have been major drivers of leasing activity, he said.
Understory is not only transformative for the building’s future employees but for the public and downtown as a whole, Damborsky said. At build-out, the hub will feature seven chef-driven concepts and a cocktail bar.
So far, Skanska has announced three concepts there and plans to reveal another one in the coming weeks, Damborsky said. In addition, a table-service restaurant will occupy the street level along with a Bank of America retail bank.
"We consider this project a game changer — to be something different to be delivered to Downtown to-date," Damborsky said.
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