Commercial Property Executive July 2012 : Page 27

BEST DEVELOPMENT/REDEVELOPMENT Project: Hess Tower, Houston Project Type: Offi ce tower Owners/Investors: Trammell Crow Co. and Principal Real Estate Investors Developer: Trammell Crow Co. Architect: Gensler Broker: CBRE Group Inc. Date Construction Completed: June 2011 Project Size: 844,763 square feet; 2.2 acres Percent of Project Leased: 100 percent The Story: Trammell Crow Co. and venture partner Principal Real Estate Investors pur-chased the site, then a parking lot, in March 2007, break-ing ground on a speculative offi ce tower in March 2008. The fi rst pre-certifi ed LEED Gold offi ce building to be con-structed in Houston’s CBD, it at-tracted global energy fi rm Hess Corp., which signed a long-term lease for the entire building in late November. Design modifi cations were made for the new tenant, and the building was complet-ed in June 2011—with a LEED Platinum certifi cation, ahead of schedule and under budget. Judges Praised: Spec de-velopment was “a very bold de-cision” for the eastern end of the CBD, but the developer contrib-uted to reviving the neighbor-hood. It changed plans for the tenant and achieved LEED Platinum in the midst of a tough economy. Submitted by: Trammell Crow, Principal Real Estate FIRST PLACE Project: Baylor Charles A. Sammons Cancer Center at Dallas Project Type: Medical Owners/Investors: Duke Realty and Northwestern Mutual Insurance Developer: Duke Realty Builder: Medco Construction Architect: Perkins + Will Date Construction Completed: February 2011 Occupancy Rate: 95 percent Total Cost of Project: $152 million Project Size: 459,717 square feet on 2.25 acres The Story: The largest outpatient cancer treatment center in North Texas, the Charles A. Sammons Can-cer Center at Dallas is the result of expansion by Baylor Health Care System. The 10-story facility is LEED Gold certifi ed and includes physician space, an oncology re-search accommodation, a transplant center and con-ference facilities, along with a radiation wing including four linear accelerators, diagnostic imaging, an outpatient clinic and urgent care center, along with a number of other departments. It in-cludes surface parking, two levels of underground parking and an adjacent garage. The property took two years to construct, creating 400 to 500 jobs at its peak. Judges Praised: The large benefi t to the community and the patients. Medical deals, oncology in particular, are more diffi cult than standard offi ce deals, requiring more collabo-ration between the developers and industry experts. Submitted by: Duke Realty SECOND PLACE | July 2012 27

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