|
|
|
PRESS RELEASES
Hines' Longest-Term Office Tenant Renews and Expands Lease in Williams Tower
10/7/2005
(HOUSTON, TX) – Hines, the international real estate firm, announced today that Rowan Companies, Inc. has renewed and expanded their lease by 4,642 square feet in Williams Tower, bringing their total space occupied on three levels to 61,811 square feet.
Rowan was represented in lease negotiations by Scott Wegmann and Trey Strake of Cushman & Wakefield of Texas, Inc. Williams Tower was represented by Director of Leasing Ronnie Martin and Senior Property Manager Jack Gregoire.
Hines also reported that Rowan has the distinction of being the firm’s longest-term tenant. In 1969, Rowan moved into Hines’ Post Oak Tower (5051 Westheimer) and then moved to Transco Tower (now Williams Tower) in 1991 when Post Oak Tower was closed for redevelopment.
Hines Founder and Chairman Gerald Hines said, “Of the more than six million agreements we have signed with tenants since 1957, this lease renewal is one of the most notable because this firm has chosen to stay in Hines buildings continuously since the late 60s. Respect for long-term relationships like this one is the very foundation of our firm.”
Rowan’s Vice Chairman Bob Croyle said, “Our firm believes that much is gained from long-term relationships with both our suppliers and customers. That belief has been a hallmark of our 82-year history. For the past 36 years, Hines has provided us with quality office space and excellent service. We are pleased to continue our long relationship.”
Williams Tower is a 1.5 million-square-foot, 64-story tower located at 2800 Post Oak Boulevard in Uptown Houston.
Rowan Companies, Inc. is a major provider of international and domestic offshore contract drilling services. The company also operates a mini-steel mill, a manufacturing facility that produces heavy equipment for the mining and timber industries, and a drilling products division that has designed or built about one-third of all mobile offshore jack-up drilling rigs, including all that are operated by the firm. Rowan’s stock is traded on the New York Stock Exchange and the Pacific Stock Exchange. Common Stock trading symbol: RDC.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The Hines portfolio of projects completed, underway, acquired and managed for third parties includes more than 800 properties representing over 285 million square feet of office, mixed-use, industrial, hotel, medical, sports facilities and residential properties, as well as large, master-planned communities and land developments. In Houston, the firm currently owns and manages in excess of 15 million square feet of office space. With offices in 63 U.S. cities and 13 foreign countries, and controlled assets valued at approximately $11 billion, Hines is one of the largest real estate organizations in the world. Access www.hines.com for more information.
|
|
|