801 LOUISIANA, Houston

TPMC acquired 801 Louisiana (formerly known as 700 Rusk) in September 2007. 801 Louisiana is located in the Central Business District at the southeast corner of Rusk Street and Louisiana. Built in 1979, the eight-story, Class B office tower contains 105,145 square feet of rentable area. The rentable area is split between 89,000 square feet of above-the-ground office space and 16,145 square feet of retail space. The bulk of the retail space is located 20-feet below-grade as part of the well-know Houston tunnel system with the remaining retail at street-level in the lobby of the building. The average floor-plate for the office space is 12,250 square feet.

At the time of acquisition, 801 Louisiana was largely vacant with just the top two floors leased to a law firm. As an underperforming asset, 801 Louisiana fit well with TPMC’s core competency. TPMC began to redevelop the building in 2007. As part of the redevelopment process, TPMC made a strategic decision to rename the asset 801 Louisiana to take advantage of the more prestigious Louisiana address.

TPMC recently executed long-term leases with high quality tenants totaling approximately 60,000 square feet.  This transaction essentially completes the asset’s transition from a Class B building to a modern, Class A, boutique-style building.