Associate – Finance

Another downtown skyscraper acquired. HOUSTON - (Realty News Report) - The Wideman Company acquired the TotalEnergies Tower, a 35-story, 850,000-SF office tower located at 1201 Louisiana Street in the heart of Downtown Houston. The skyscraper, built in 1971, is home to The Petroleum Club, one of Houston's most storied private clubs. The club is located on the top floor of the building, which stands 518 feet tall. Wideman Company acquired the building from Brookfield Properties, which remains one of the largest owners of downtown properties. The Orlando-based Wideman Company is no stranger to Downtown Houston. In 2024, Wideman acquired the Jones on Main, a historic block of Jesse H. Jones buildings at 708 Main and 712 Main. "We have been actively looking for the right opportunity to make another significant investment in Houston since acquiring Jones on Main," said Matthew Wideman, CEO of The Wideman Company. "Houston continues to demonstrate the characteristics we look for in long-term investments: a globally significant economy, a deep corporate tenant base, and a downtown district that is seeing meaningful reinvestment and renewed momentum. TotalEnergies Tower represents a rare opportunity to acquire a premier asset with an exceptional location, institutional-quality tenancy, and a strong foundation for the future." The purchase price and details of the transaction were not disclosed, although at one time real estate professionals speculated that the tower could fetch $100 per SF. However, the property had been subject to a ground lease that impacts net income projections. A long-term hold. Wideman Company said TotalEnergies Tower, like the Jones on Main, is intended to be a long-term hold within The Wideman Company's portfolio. "We are generational owners who steward properties for decades," Wideman said. "Our approach is focused on investing in exceptional assets, building relationships with tenants and the surrounding community, and creating properties that remain relevant for generations." The TotalEnergies Tower is located on the block bounded by Louisiana, Dallas, Milam, and Polk streets, across from the Hyatt Regency hotel. "We are excited that The Wideman Company has made another significant investment signaling long-term confidence in the future of Houston's urban core," said Kristopher Larson, President and CEO of Downtown Houston+. "Private investment in vertical development is accompanying strategic public investments on the ground in infrastructure improvements and signature civic spaces, such as the Main Street Promenade and the reimagined Tranquility Park. More than $2.5 billion is flowing into Downtown this year alone and it remains Houston's most prestigious and powerful business address." In June, another downtown building was sold. The 542,919-SF building, 919 Milam, which was formerly the home of the Bank of Southwest, was sold to another Florida group that is considering converting the building to residential, according to an exclusive story in Realty News Report. It is is located on a block bounded by Travis, Walker, McKinney and Milam, about two blocks from the TotalEnergies Tower. TotalEnergies Tower, which is about 80% leased, is home to TotalEnergies' North American headquarters of the French energy firm. Ziegler Cooper Architects, a Houston-based firm led by Scott Ziegler, designed a recent renovation of the building. Downtown leasing potential. Wideman Company has engaged Vince Strake and Lesley Rice of Partners Real Estate to handle leasing of the TotalEnergies tower. Leasing activity has been increasing in downtown, according to most recent publication of "The Office Story," a proprietary research study conducted for more than 40 years by Downtown Houston+ Downtown leasing improved for the second consecutive year, totaling more than 2.4 million square feet in 2025, an 8.5% increase from 2024 and a 17.2% increase from 2023. "We are encouraged to find new leasing activity rose 18% year-over-year, while renewal activity remained a major driver of total transaction volume," said Larson of Downtown Houston+. "This indicates more tenants are recommitting to Downtown and more of them are expanding, as we now see individual return-to-office visits exceeding 90% of pre-pandemic levels." In July, Mitsubishi Corporation (Americas) has leased 91,761 SF in the 1100 Louisiana tower in one of the largest downtown office leases in recent years. Winfield Haggard Jr. and Diana Bridger, both of Partners Real Estate, represented the landlord, Fantome Tower LP, in the lease transaction. Tim D. Relyea, Executive Vice Chairman at Cushman & Wakefield, represented Mitsubishi Corporation (Americas). The 55-story 1100 Louisiana building was developed by Hines, Mitsubishi Corporation will occupy floors 31-34.

Former South Weymouth Naval Air Station redevelopment moves forward with $65 million land sale. MWRA Updates Posted on July 07, 2026 The long-awaited redevelopment of the former South Weymouth Naval Air Station has taken a major step forward this week, with Washington Capital Management selling its land at the Base to a joint venture of Brookfield Properties and New England Development. The $65 million sale was filed Wednesday in Norfolk and Plymouth counties, marking a significant milestone for one of the largest redevelopment opportunities in Massachusetts. Previous attempts to develop the former military installation ran into financial challenges and failed to deliver on the full promise of the site. The former South Weymouth Naval Air Station has played a prominent role in the region's history for more than 80 years. Commissioned during World War II, the site was originally built to support Navy blimp operations used in coastal anti-submarine patrols. In the decades that followed, the site became an important Naval Air Reserve facility, supporting Navy and Marine Corps training before its closure in 1997. Since then, local, state and private-sector leaders have worked for decades to return the property to productive use. New England Development and Brookfield Properties are now proposing a mixed-use redevelopment that would include 6,500 housing units, along with about two million square feet of commercial and retail space. The project spans more than 1,400 acres in Weymouth, Rockland and Abington, and is expected to become the largest residential and commercial development project in Massachusetts. The Base redevelopment proposal earlier won a unanimous vote of support of the Weymouth City Council, and overwhelming support at Rockland and Abington Annual Town Meetings, in addition to strong state support, particularly from House Speaker Ron Mariano (who has championed the site for 30 years), and Governor Healey and Lt. Governor Driscoll. The redevelopment effort has been strengthened by the continued partnership and commitment of municipal leaders in Weymouth, Rockland, and Abington, most notably Weymouth Mayor Michael Molisse and his team. "This is a good day for Weymouth and the entire Commonwealth. It shows the kind of results that true partnership between private investment and government at the local and state level can achieve for our citizens.", said Mayor Michael Molisse. As the Commonwealth continues to navigate a housing crisis that has forced many residents to consider leaving Massachusetts, the redevelopment of the former South Weymouth Naval Air Station into 6,500 new homes represents the kind of development that the Commonwealth needs more of if we are going to build enough housing to stabilize costs for our residents. That's why I'm encouraged by the acquisition of additional base land by Brookfield Properties and New England Development, respected developers who have demonstrated a strong commitment to seeing this critical project all the way through to completion," said House Speaker Ronald J. Mariano (D-Quincy). "I look forward to continued progress towards realizing the significant residential and commercial potential of the old Naval Air Base, and I'm grateful to everyone who has remained steadfast in their commitment to this key project." "Lowering housing costs is my top priority, and projects like this are how we get there," said Governor Maura Healey. "This redevelopment will create thousands of new homes, support good-paying jobs and transform a long-underutilized site into an engine of opportunity for the South Shore. My administration is committed to working with local leaders and our partners to move this project forward and make it easier to build the housing Massachusetts needs." "This is exciting progress for the South Shore and another important step toward creating more homes for Massachusetts families," said Lieutenant Governor Kim Driscoll. "Strong partnerships are helping turn a long-vacant property into new housing, economic opportunity and lasting investment that will benefit this region for generations to come." New England Development is one of the region's top real estate and development firms, specializing in mixed-use communities, premium retail centers and high-tech lab spaces in creative, entrepreneurial approaches. Brookfield Properties is one of the world's largest real estate owners and developers - managing more than 400 million square feet of commercial space and hundreds of properties globally. "We are excited to be moving forward with the Base - a project that will have significant benefits to the towns of Weymouth, Rockland and Abington, as well as the region, and will create job and housing opportunities so urgently needed in the Commonwealth" said John Twohig of New England Development. "The Base redevelopment will be the largest residential and commercial project in Massachusetts." As part of the project, Weymouth, Southfield Redevelopment Authority (the governing municipality for the Base) and the Master Developer have secured more than $35 million in state and local infrastructure funding for water, wastewater, and road improvements. A major effort is underway to connect Weymouth to the Massachusetts Water Resources Authority (MWRA) water supply through a 6.7-mile pipeline. The Final Environmental Impact Report for the pipeline is expected by the end of 2026, with completion of the pipeline projected for 2031. In the long term, the pipeline is expected to have the capacity to provide water on a regional basis to South Shore communities. The taxpayer benefits of the redevelopment are expected to be significant for Weymouth, Rockland, and Abington. Projected net new annual tax revenue for the three communities totals nearly $24 million - approximately $14 million for Weymouth and $5 million each for Rockland and Abington. The project also includes the preservation of more than 880 acres of open and restricted space, nearly two-thirds of the Base. That land is expected to provide wildlife habitat, recreational opportunities and public amenities while preserving a substantial portion of the former military site as open space. Infrastructure work is expected to begin in fall 2026. About New England Development For over 50 years, New England Development has taken a creative, entrepreneurial approach to real estate development and management, delivering, and sustaining successful projects across a wide range of property types. The company's national portfolio includes mixed-use developments that combine retail, residential, office, lab and hotel use, outlet centers, high-end and street-front retail, airport retail, hotels, golf courses, restaurants, and marinas. New England Development's diverse portfolio includes CambridgeSide in Cambridge, MA, Allston Yards in Allston, MA, Chestnut Hill Square in Chestnut Hill, MA, Outlets of Des Moines in Altoona, IA, Clarksburg Premium Outlets in Clarksburg, MD, The Pinehills, Plymouth, MA, Newburyport Development and White Elephant Resorts, among others. For more information, visit NEDevelopment.com. About Brookfield Properties Brookfield Properties is a leading global developer and operator of high-quality real estate assets. Brookfield is active in nearly all real estate sectors, including office, retail, multifamily, hospitality and logistics, operating more than 1,100 properties and over 390 million square feet of real estate in gateway markets on behalf of Brookfield Asset Management, one of the largest asset managers in the world. With a focus on sustainability, a commitment to excellence, and the drive for relentless innovation in the planning, development and management of buildings and their surroundings, Brookfield Properties is reimagining real estate from the ground up. For more information, visit brookfieldproperties.com.