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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