Fulbright Tower

Fulbright Tower
General information
Location 1301 McKinney Avenue
Houston, Texas
Coordinates 29°45′20″N 95°21′42″W / 29.75556°N 95.36169°W / 29.75556; -95.36169Coordinates: 29°45′20″N 95°21′42″W / 29.75556°N 95.36169°W / 29.75556; -95.36169
Completed 1982 (1982)
Technical details
Floor count 52
Design and construction
Architect Caudill Rowlett Scott

The Fulbright Tower is a 52 story skyscraper originally known as 3 Houston Center.[1] A part of the downtown Houston Center complex, the tower has 1,247,061 square feet (115,855.8 m2) of Class A office space.[2] The bottom seven levels were designed for four trading floors for commodities like electricity and natural gas.[3] The building at one point was owned by ChevronTexaco. As of 2005, Crescent owns the tower in a joint venture with the affiliates of GE Asset Management and J.P. Morgan Asset Management.[4] Fulbright & Jaworski has its headquarters in the Fulbright Tower, in Suite 5100.[5]

History

Construction on the tower was scheduled to begin in November 1980.[1] The building was built in 1982.[6] The tower property was developed in 1985. Fulbright & Jaworski became a tenant during that year. The original name of the structure was the Gulf Tower. Chevron became the building's main tenant, and its name became the Chevron Tower. Fulbright & Jaworski renegotiated and extended its lease in 2003 and retained the possibility of naming rights; as of 2005, the firm occupies 350,000 square feet (33,000 m2) of space.[4] On February 24, 2005, Crescent completed the joint venture agreement involving the Fulbright Tower; a pension fund investor advised by JPMorgan Asset Management bought a 60% ownership interest in the building and an affiliate of GE Asset Management bought a 16.15% ownership interest.[2] In 2004, ChevronTexaco sold the building to Crescent. During that year the tower was 49% occupied.[6] By March 2005, ChevronTexaco planned to move its operations out of the tower after buying 1500 Louisiana Street in Downtown Houston. Fulbright & Jaworski used their naming rights, and in 2005 the building gained the name Fulbright Tower. In 2005, the Fulbright Tower was 57% occupied.[4] In 2006, Chevron Corporation still occupied three floors at the Fulbright Tower.[7] In 2009 Conway MacKenzie leased 4,619 square feet (429.1 m2) at the Fulbright Tower.[8]

Tenants

References

  1. 1 2 "Office Tower Rising in Downtown Houston." Los Angeles Times. September 21, 1980. Section Part VII, G42. Retrieved on November 11, 2009.
  2. 1 2 "Crescent Announces First Quarter 2005 Results." Business Wire. May 5, 2005. Retrieved on November 11, 2009.
  3. "Fulbright Tower 1500 Louisiana Houston, TX". TheSquareFoot. 2013. Retrieved 1 September 2013.
  4. 1 2 3 Sarnoff, Nancy. "Building becomes Fulbright Tower / Law firm takes name of former Chevron space." Houston Chronicle. Wednesday March 30, 2005. Business 3. Retrieved on November 11, 2009.
  5. "Contact Us." Fulbright & Jaworski. Retrieved on March 27, 2012. "Houston Fulbright Tower 1301 McKinney Suite 5100 Houston, TX 77010-3095"
  6. 1 2 "Crescent Acquires Downtown Houston Office Property; Chevron Tower Acquisition Brings All of Houston Center Assets into Crescent's Portfolio." Business Wire. December 22, 2004. Retrieved on November 11, 2009.
  7. Dawson, Jennifer. "Chevron ends space odyssey with landmark lease." Houston Business Journal. Friday March 3, 2006. Retrieved on November 11, 2009.
  8. "Commercial real estate." Houston Chronicle. February 27, 2009. Retrieved on November 11, 2009.
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