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Galleria Office Towers Announces Top Floor Lease with
Employee Benefit Solutions, Inc. at Galleria Tower I
Houston, Texas - January 25, 2005
Walton Street Capital has announced it has executed a 19,855 square foot new lease with Employee Benefit Solutions, Inc. at Galleria Tower I. Employee Benefit Solutions, Inc. was represented in the negotiations by Scot Ison of Axis Property Advisors. 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 office towers: “We are very excited about this new lease for the top floor of Galleria Tower I. Employee Benefit Solutions, Inc. has been a tenant in Galleria Tower I since 1998 and we are very excited their business continues to be very successful.” 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.
Employee Benefit Solutions (EBS) develops, delivers, communicates, and manages benefit programs to measurably influence a company’s ability to execute their business strategy. EBS offers Health & Welfare and Retirement Plan Advisory Services as well benefit administration services (Co-sourcing™) to help clients seize opportunities and solve real business problems.
Scot Ison says, “Relocating to the 25th floor will allow EBS the opportunity to redesign their offices into a more efficient and collaborative open concept which will enhance their ability to provide clients the creative solutions EBS is known to deliver.”
The Galleria office buildings 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. CB Richard Ellis oversees property management of the Galleria office buildings. Major tenants in The Galleria office towers include Air Liquide America, Wachovia Securities, CB Richard Ellis, Solomon Smith Barney, Merrill Lynch, Paine Webber, 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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