Williams Cos., with headquarters in Tulsa, just acquired a 64-story Williams Tower in Houston in a $300 million deal.
So far, there’s not indication it means Williams wants to relocate headquarters to Houston where the company already has about 800 employees with nearly 1,300 remaining in Tulsa. Instead, Williams said the acquisition underscores the city’s importance to the company’s long-term growth strategy.
A company spokesperson said Houston is critical to Williams’ growth and that, like Tulsa, the Houston headquarters is intended to be a magnet for attracting and retaining talent, reported The Real Deal in Houston.
Houston headquarters plays key role in growth
Williams said acquiring the office tower reinforces its commitment to Houston as one of the company’s major employment hubs. Officials said the investment reflects the company’s strategy to strengthen its presence in a city that remains central to the energy industry.
The 1.4 million-square-foot tower is close to the Galleria in Houston at 2800 Post Oak Boulevard. According to the Houston Chronicle. Glen Jasek, one of the company’s senior vice presidents, told the outlet that the deal also includes a parking garage, and that the purchase gives the company more opportunity to grow in the Houston market. The listing price equates to $214 per square foot.
A report from Green Street News, which said the purchase is one of Houston’s largest single-office-property buys since before the pandemic. The former owners, Atlanta-based Invesco Real Estate, were pushing Harris County to lower the appraisal on the property, according to the Chronicle. Harris County had the building pegged at $290 million as recently as May. Invesco purchased the property in 2013 for $412 million, marking a more than $100 million loss on the sale.
Williams Tower was formerly known as the Transco Tower, was developed by Houston-based Hines and completed in 1983. Williams Companies acquired Transco in 1995, and formally changed the tower’s name in 1995. The building 83 percent occupied and the Real Deal reported Morgan Stanley revealed plans to expand its office space in the tower last year, and in 2024 Camden Property Trust and LPL Financial moved their respective headquarters into the tower.
