The Hines project would be the first office project of that magnitude in Downtown in more than 15 years. Duke Currently occupies 120,000 sf in Republic Plaza, which is owned by Brookfield.
Many Downtown experts expected Hines to anchor a new, 14-stolry office building it plans to develop Downtown with Opus Northwest.
While the Duke deal is good news for Hines, some experts caution that things could change.
''I initially thought they'd sign a lease and that surprised me,'' one developer tells GlobeSt.com. ''But if it's only a letter of intent, that doesn't mean anything. We'll have to see what happens.''
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