Houston is having a major growth spurt in Class A buildings, and Hines is moving forward on its latest entry in that market with a major office building that will be located at 609 Main Street or Block 69.
Ralph Bivins, editor at Realty News Report, says that the building schedule and size are being increased in order to meet the growing demand for Class A space in the Central Business District (CBD) market.
Currently, Class A space in the Houston CBD market is approaching 93% occupied, and that has helped Hines move forward at an accelerated pace, despite the fact that they have not yet announced any major tenants for the building they are projected to break ground on in the first quarter of 2014. The building will be ready for occupancy by 2016.
Even though the initial plans for the Pickard Chilton-designed build showed 41 floors and 815,000 square feet, the latest rendering shows a larger building of 50-plus floors indicating that it might approach 1 million square feet.
The site is located on the Main street rail line and near the Chase Bank Tower and the most recent Hines building BG Place. We will be on the look out for major tenants who might make 609 Main their new home.