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First City Tower Signs Waste Management To Corporate Headquarters Lease Renewal
Houston, Texas - January 4, 2005
FC Tower Property Partners, L.P., an affiliate of JMB Realty of Chicago, recently announced the signing of a major lease renewal with Waste Management. Waste Management will occupy approximately 202,000 square feet in the First City Tower office building located at 1001 Fannin in downtown Houston. Colvill Office Properties represented FC Tower Property Partners in the renewal negotiations.
“We are delighted to continue the relationship with First City Tower,” says Ed Schauble, Vice President of Real Estate for Waste Management. “We house our corporate headquarters at First City Tower and consider this to be an excellent location for our employees.”
First City Tower is approximately 1,333,312 square feet and stands 49 stories tall. Other major tenants include Vinson & Elkins, RBC Dain Rauscher, Whitney Bank, and the Houston Bar Association.
First City Tower is currently completing a major renovation. According to Chip Colvill of Colvill Office Properties, “Our renovations secure First City Tower’s place as one of the premier Class “A” office buildings in Houston’s Central Business District. The renovation consists of three major elements: the building’s lobby, the surrounding plaza, and the lower retail space (which connects First City Tower to Houston’s extensive pedestrian tunnel system).” Colvill adds, “We are seeing a very high demand for office space in the building and are in negotiations with several new tenants for space in the building. Tenants want to be in our area due to the proximity to The Houston Center Retail Shops, the Four Seasons hotel, and now the added benefit of immediate proximity to Minute Maid Park, the new Toyota Center and the expanded George R. Brown Conference center. Waste Management’s re-commitment to the building further establishes the long-term value of the building and this area of Houston.”
Waste Management, Inc. is its industry's leading provider of comprehensive waste management and environmental services.
Based in Houston, Waste Management serves municipal, commercial, industrial, and residential customers throughout North America.
First City Tower is managed by CB Richard Ellis, one of the largest commercial real estate services providers in the United States.
JMB Realty and its affiliated entities have owned, developed, and managed real estate projects throughout North America, including regional malls, hotels, planned communities, and office complexes.
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