The 20-year lead tenant uses the office space for Transcontinental Gas Pipeline Corp., which will now fill about 15% of Williams Tower, formerly Transco Tower. The new lease begins April 1.
A spokeswoman for building overseer, Hines Interests, says talks are underway with prospects, including another Williams subsidiary, to backfill the space. At 909-ft high, the 64-story building is touted as the tallest structure in the world outside a central business district. The 1.5-million-sf building, now 91% occupied, is owned by Transco Tower Ltd., which was represented by the Hines team of Ronnie Martin and Michael Anderson in the negotiations.
"The fact that Williams has renewed its lease is a vote of confidence for the building and the city," Louis Sklar, Hines' executive vice president, said in a press release. "Transco, which was acquired by Williams in 1995, played a significant part in the tower's conception and construction, and we are pleased that the company will continue to have a presence in Houston."
Williams was represented by Ronnie Deyo and Dan Bellow, both in the local office of Dallas-based Staubach Co. Williams Tower's quoted rate is not available, but the average rental rate for class A space in the Galleria submarket is $20.53 per sf, according to Trione & Gordon/CBRE.
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