Brookfield Scores Another Big Energy Company Lease Renewal In Downtown Houston
Aramco Americas renewed its 174K SF lease at Two Allen Center, Brookfield Properties' 36-floor office tower at 1200 Smith St. in Downtown Houston.
The energy company’s headquarters lease renewal helped Brookfield Properties secure nearly 900K SF of leasing activity at the 3.2M SF Allen Center complex within six months.
Brookfield revitalized the campus with upgraded lobbies, an acre of green space and amenities, including a suite for breastfeeding mothers from Work & Mother, in a project completed in 2021. Two Allen Center got a new two-story lobby, a second-floor outdoor terrace and updated retail bays, Brookfield Properties said in a news release.
“We are thrilled to have Aramco Americas extend its commitment with Brookfield Properties and renew their lease at Two Allen Center,” Travis Overall, executive vice president and head of the Texas region for Brookfield Properties, said in the release. “We are committed to constantly enhancing the amenities and benefits available to our tenants, and we take pride in it when they acknowledge our efforts.”
Other major lease agreements this year include petroleum and chemical company Motiva Enterprises’ 221K SF lease renewal at One Allen Center in April and Plains All American Pipeline’s 260K SF lease at Three Allen Center.
Yet another energy company, Freeport LNG, in December extended its existing 57K SF lease by 9K SF for a new total footprint of about 66K SF at Three Allen Center.
This activity contrasts with several tenant losses and downsizes that Brookfield Properties saw at the 4.6M SF Houston Center campus in recent years before it transferred the property to a joint venture that includes its mezzanine lender last month.
Aramco Americas was represented by Tim Relyea and Joe Peddie of Cushman & Wakefield. Brookfield Properties was represented by Bubba Harkins, Kristen Rabel and Jenny Sealy of CBRE, as well as Tyler Merritt of Brookfield Properties.
