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Galleria Office Towers Announces 142,955 Square Foot Lease Extension with Air Liquide America
Houston, Texas - September 8, 2004
Walton Street Capital has announced it has extended a 142,955 square foot lease with Air Liquide America. Air Liquide was represented in the negotiations by Robert Strake Parsley of Colliers International. Walton Street was represented by Chip Colvill of Colvill Office Properties.
According to Chip Colvill of Colvill Office Properties, who handles the leasing and marketing for the Galleria Office Towers: “We are very excited about extending our business relationship with Air Liquide America which began in 1995 when they originally relocated to the Galleria Tower I building. Air Liquide is a long-term valued tenant at the Galleria.” Galleria Tower I has completed a multi-million dollar renovation, to include a new front entry on Post Oak Boulevard, new lobbies and new elevators to serve the parking garage.
Present in 65 countries, Air Liquide is the world leader in industrial and medical gases and related services. Founded in 1902, Air Liquide has more than 31,900 employees. Galleria Tower I accommodates Air Liquide’s U.S. headquarters.
The Galleria Office Towers are owned by Walton Houston Galleria Office, L.P., an affiliate of Walton Street Capital, L.L.C. of Chicago. The total complex represents 1.1 million square feet of prime Class A office space in the Uptown/Galleria area of Houston. Major tenants in The Galleria Office Towers include Air Liquide America, Wachovia Securities, CB Richard Ellis, Solomon Smith Barney, Merrill Lynch, UBS, Citicorp, and the University Club. In addition to the Galleria Office Towers, Walton Street Capital owns the Westin Oaks and Westin Galleria and 40% of the Galleria retail mall.
Based in Chicago, Walton Street Capital, L.L.C. sponsors a series of performance based, private equity real estate investment Funds. The Funds have received total equity commitments of over $1.6 billion from government and corporate pension funds, foreign pension funds, endowments, foundations, banks, insurance companies, high net worth individuals, and the principals of Walton Street, who have personally committed over $150 million.
The Galleria is a world-class facility and is considered “a landmark in Texas retailing”. With the expansion that opened in March 2003, The Galleria became the fifth largest mall in the nation highlighted by nine types of stone, suspended glass balconies, three types of wood, glass skylights, and plush leather seating. With 3 office towers, 2 hotels, 2.4 million square feet of retail space, and a variety of restaurants, The Galleria is a city within a city. Set in the center of Uptown Houston, The Galleria is located at the intersection of Westheimer Road and Post Oak Boulevard just off Loop 610.
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