HOUSTON, December 11, 2024 – Cushman & Wakefield announced today that the firm represented JMB Realty Corp. in leasing more than 24,000 square feet of Class A office space with four Houston law firms at 1001 Fannin St. in the Houston CBD, with all leasing spec suites and move-in-ready spaces. Two of the firms have leased suites available as part of the building’s new “1001Signature” spec suite program.
JMB Realty has introduced five spec suites totaling 22,649 square feet throughout the 49-story 1001 Fannin office tower, with Cushman & Wakefield’s Brad Beasley and Chip Colvill leading leasing at the property. These suites range from 2,250 square feet to 6,000 square feet and feature high-end buildouts desired by most firms seeking office space in Downtown Houston. With the spec suites’ success, JMB plans to move forward with additional spec suites at 1001 Fannin.
“Our spec suites at 1001 Fannin address tenants’ flight-to-quality trend and help them manage risk and projected growth,” said Patrick Meara of JMB Realty. “In the midst of such an incredibly complex office market, spec suites and other move-in ready spaces can simplify occupiers’ decision-making process and, at the same time, provide a high-end and tech-ready workplace nearly immediately.”
Added Brad Beasley, Cushman & Wakefield Managing Director, “High-quality, turn-key space has never been more important, given Class A and efficient office destinations play such an integral role in employees’ return to office as well as recruiting and retention. Our 1001Signature spec-suite program recognizes this requirement and creates an ideal situation for professional and energy firms as well as other companies. These types of move-in ready spaces both meet their immediate need and provide an incredible alternative to the traditional build-out process.”
Spec suite programs, while not new to the market, are not as prevalent as they were a couple of years ago. However, many companies are still seeking move-in ready spaces and looking at space condition as a major factor in the decision making process. The traditional process, with plans, permitting and construction, can take between four to 10 months to complete; spec suite programs drastically reduce this timeline. In addition, many of these move-in ready suites provide companies with high-end space that aids in elevating their corporate culture and identity.
The new law-firm tenants included:
- Hogan Thompson Schuelke, which leased 7,491 square feet and was represented by Joshua Brown and Kaitlyn Duffie of Newmark.
- Murphy Ball Stratton, which leased 5,936 square feet and was represented by Hugh Herman of Cushman & Wakefield.
- Gordon Arata Montgomery & Barnett, which leased 5,436 square feet and was represented by Joshua Brown and Kaitlyn Duffie with Newmark.
- Rawson Law, which leased 5,884 square feet and was represented by Audrey Selber of Newmark.
A landmark office tower bound by Fannin, McKinney, San Jacinto and Lamar streets in the Houston CBD, 1001 Fannin offers 1.2 million square feet of Class A office space as well as nearly 20,000 square feet of retail space, all connected to the Downtown Houston pedestrian tunnel system. The LEED Gold building has earned ENERGY STAR and BOMA 360 certification.