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Pavilions Tower Offers NRG Texas and Reliant Energy Employees Exciting Work Surroundings, Not Just Office Space

"Even in the best of economic times, it's not often that a 240,000-square-foot tenant comes along," said Geoff Jones, co-developer/principal of Houston Pavilions. "In today's climate, we feel extremely fortunate to have executed a lease of this size with a tenant like NRG."

According to Bob Eury, executive director of the Downtown District, "We are pleased that NRG, in its relocation decision process, chose to remain in downtownHouston with a strong presence."

Houston Pavilions brings together the best of city life, offering tenants at Pavilions Tower office space that makes work surroundings more exciting. Mid-block between Fannin and San Jacinto streets, atop the center, sits the nine-story class-A office tower. With top-notch restaurants, nightclubs and retail all in an open-air center, workers at Pavilions Tower can choose to spend more time at the facility. Tenants will enjoy easy access to the light rail, the ability to entertain clients with lunch and dinner meetings on site and valet and covered parking to name a few of the conveniences.

Retail space and dining venues occupy the first two levels of the center, with entertainment venues located on the third floor. A central courtyard and people-friendly streetscapes allow for alfresco dining and lots of window-shopping. In the anchor positions are House of Blues, XXI Forever, Lucky Strike Lanes, and Books-A-Million. Each of the anchors is in excess of 24,000 square feet. The second and third floors of the development are connected by bridges, called the Houston Pavilion "Sky Rings," spanning Fannin and San Jacinto streets.

"The leasing of Houston Pavilions was proceeding along nicely," said Jones. "In fact, we were outpacing our projections for 2009. With the signing of the NRG lease, the occupancy of the project has hit roughly 80 percent, a level we hadn't expected to achieve until 2010. We went from having a good year to having a great one."

Select other dining and entertainment tenants set to open before the end of 2009 include: III Forks Steakhouse, Yao Restaurant and Bar, Mia Bella Trattoria, Andalusia Tapas Bar and Restaurant, Cork Wine Bar, The Boardroom, and Pete's Dueling Piano Bar.

Commenting on the deal, Eric Anderson, senior vice president at Transwestern, which is one of the largest privately held commercial real estate and development firms in the U.S. and represented the landlord in this deal, said, "Ultimately, the unique strengths of Houston Pavilions were an absolute match to meet NRG's requirements. The great restaurants and amenities currently in place and its location directly off the Main Street Rail system, as well as the convenience of the covered connected parking garage, all contributed to this match."

Eric Anderson and Greg Tilton of Transwestern represented the owner, Houston Pavilions, L.P. NRG Texas was represented by George "Trey" Strake, III and Christopher Oliver with Cushman & Wakefield ofTexas, Inc.

About Houston Pavilions

Houston Pavilions is the premier entertainment, dining, retail and office hub in downtownHouston. Bordered by Dallas Street to the north, Polk Street to the south, Main Street to the west and Caroline Street to the east and connected by two signature "Sky Rings," Houston Pavilions spans four city blocks. The pedestrian and dog-friendly, open-air retail entertainment center is comprised of 320,000 square feet of retail space, 240,000 square feet of office space and a 1,600-space parking garage. Houston Pavilions is open seven days a week: Monday through Saturday, 10 a.m. to 9 p.m.; Sunday, noon to 6 p.m. Visit www.houstonpavilions.com.

About Transwestern

Transwestern, one of the largest privately held commercial real estate and development firms in the U.S., is focused on creating value for our clients in each local market we serve. Transwestern's unique business model offers fully integrated real estate services and operates through six distinct functional lines of business: agency leasing, property and facility management, investment services, tenant advisory, development and research for a broad range of property types, including office, industrial, retail, healthcare and multifamily. Transwestern leads the industry in sustainability and has received multiple EPA ENERGY STAR(R) awards. We have partnered with our clients and the USGBC to pursue LEED(R) certification on projects across the country.

About Cushman & Wakefield

Cushman & Wakefield is the world's preeminent commercial real estate services firm. Founded in 1917, the firm has 227 offices in 59 countries, and more than 15,000 professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease and manage assets. The firm also provides valuation advice, strategic planning and research, portfolio analysis, site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, visit www.cushmanwakefield.com.

SOURCE Houston Pavilions