Monday, January 26, 2009

City Buys WATERWALL in Galleria

City buys water wall
The popular Water Wall Park was purchased by the City of Houston to be preserved as a public park for generations to come.
The city paid $8.5 million to an affiliate of Houston-based Hines Interests LP for the Water Wall and the three-acre park in which it sits in the Galleria area. The 64-foot wall of cascading water has been one of the most recognizable and frequently visited landmarks in Houston for nearly a quarter of a century.
Hines and Transco Energy Co. originally developed the private Water Wall Park and adjacent Williams Tower in the 1980s. The skyscraper and park have changed hands over time, but went back under Hines-related ownership in 2008 when they were acquired by Hines Real Estate Investment Trust Inc.
HCSS breaks ground on new building
Ranked in the Houston Business Journal as one of city’s “Best Places to Work,” HCSS Inc. is now working on building an even better workplace.
The software development company broke ground in December on a 45,000-square-foot building in Sugar Land that is designed to be very employee-friendly.
The building will be constructed in the shape of a square that will enclose a 75-foot by 110-foot courtyard. The courtyard will be wired for electricity and have wireless Internet access so employees can work outside.
The new building will also have a gym with a half basketball court; exercise room; showers; a 600-meter crushed granite jogging trail; and a 200-meter running track surrounding a small soccer field.
In its new offices, the 112-person firm, leaving the space it leases at 6200 Savoy, will have room to accommodate 220 employees.
AETNA signs lease in Sugar Land
The Three Sugar Creek Center office building in Sugar Land that has stood vacant for more than a year has landed its first tenant.
Aetna Inc. signed a lease in December for roughly 52,000 square feet of space in the building, which was completed in 2007 on a speculative basis by Harry Green Interests Inc.
More than 350 employees are expected to move into two floors in the Class A office building at Three Sugar Creek Boulevard by April 2009. The Aetna professionals currently occupy about 45,000 square feet in Fluor Corp.’s building at U.S. Highway 59 and State Highway 6 in Sugar Land. Aetna needed a new home because Fluor wanted the sublease space back. For more information see : www.houstonrealtyadvisors.com or www.houstonrealtyadvisors.net