HOUSTON – 5/27/08 – The Houston office of Hines, the international real estate firm, announced today that they have signed a lease with KPMG LLP, the U.S. audit, tax and advisory firm, for 108,904 square feet on the top four floors of MainPlace. The 46-story, one million-square-foot office building is under construction at 811 Main in downtown Houston. KPMG LLP, which is currently located in Bank of America Center, will relocate to MainPlace upon building completion in 2011.
Dan Bellow, John Burke and Ronnie Deyo of The Staubach Company represented KPMG in the transaction. Stewart Robinson and Chrissy Wilson represented Hines.
“KPMG has deep roots in Houston, and we want to continue to grow with the city. We considered other options, and our investment in MainPlace demonstrates our commitment to the future of downtown Houston,” said Bud Giesinger, KPMG’s managing partner in Houston. “We’re confident that this showcase location for our firm also will appeal to the kind of talented and energetic professionals we’re seeking to attract, as we continue to provide quality professional services to KPMG clients.”
“This lease validates the market demand for new construction in downtown Houston. We are very pleased and excited about Hines’ role in the next generation of sustainably designed buildings here in Houston’s CBD,” said Hines Executive Vice President Mark Cover.
MainPlace is being funded by the Hines CalPERS Green Development Fund, a fund that focuses exclusively on developing sustainable office buildings throughout the United States certifiable through the U.S. Green Building Council (USGBC) Leadership in Energy and Environmental Design Core & Shell (LEED-CS) program. Recently, the building attained LEED Silver pre-certification, and it is expected to qualify for Gold.
Jon Pickard, AIA, of Pickard Chilton notes, “Our design for MainPlace acknowledges the contemporary tradition of the Houston skyscraper while keeping with the historical tradition of Main Street’s classic architecture.”
CalPERS is the nation’s largest public pension fund with assets totaling $250 billion, of which $19.8 billion is invested in real estate. The System provides retirement and health benefits to more than one million state and public employees and their families. For further information on CalPERS, please visit the System’s Web site at www.calpers.ca.gov.
KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International. KPMG International’s member firms have 123,000 professionals, including more than 7,100 partners, in 145 countries.
In downtown Houston, Hines has developed 23 projects totaling approximately 17 million square feet. This new development represents the latest addition to the skyline since Hines’ 717 Texas building was completed in 2003.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,000 properties representing approximately 435 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 69 U.S. cities and 15 foreign countries, and controlled assets valued at approximately $22.9 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.
