Here’s one way to keep an office tenant from leaving: put its name on the building.
Downtown’s 1 Houston Center is being renamed LyondellBasell Tower following the chemical and fuel maker‘s 358,138-square-foot lease renewal. The 46-story tower is located on the east end of downtown at 1221 McKinney.
The Dutch-based firm has been in 1 Houston Center for 25 years.
“Naming rights were an important component of the lease renewal discussions,” said a spokesman for building owner Crescent Real Estate.
Charles Gordon, Craig Beyer and Brandon Clarke of CBRE represented LyondellBasell. Debbie Wilson and Bob Boykin represented the owner.