October 27, 2026
Wells Fargo Plaza, the 71-story tower at 1000 Louisiana Street in downtown Houston, is being marketed for sale. Realty News Report, in an article dated September 21, 2026, says the offering could become one of the largest office building transactions in the city in recent years. This post summarizes what the report says and what a sale of this size could mean for office valuation.
About the building
The tower contains about 1.7 million square feet and rises 992 feet, which the report ranks as the third-tallest building in Texas. According to the report, Waterline in Austin (74 stories, 1,025 feet) opened this year as the state’s tallest, and JPMorgan Chase Tower in Houston (75 stories, 1,002 feet) ranks second. Century Development built Wells Fargo Plaza, which opened in 1983 and was designed by Richard Keating while he was a partner at Skidmore, Owings & Merrill. Its blue-green reflective glass once earned it a reputation as the tallest all-glass building in the Western Hemisphere. The tower has carried several names over the years, and the report notes it now often goes by its street address.
Ownership and the sale
Metropolitan Life Insurance Co. owned the building until 2011, when it sold a 50% stake to the New York State Common Retirement Fund. The report says the owners have hired JLL Capital Markets brokers Jeff Hollinden and Kevin McConn to sell the tower. The report does not state an asking price.
Occupancy and tenants
The building is 70.6% occupied. Tenants named in the report include Wells Fargo, NextDecade, PwC, the law firm Susman Godfrey and the restaurant Adair.
A recent Houston comparison
The report points to Williams Tower near the Galleria, which sold in July. Citing Real Estate Alert, it says Williams bought the 64-story building for more than $300 million, or $215 per square foot, and describes the deal as the largest Houston office sale in years.
What this means for valuation
The following points reflect general appraisal practice, not findings from the report.
- At occupancy just above 70%, in-place income, lease expirations and the cost and time to lease vacant space will weigh heavily on value.
- Comparable sales need context. Building age, class, location, occupancy and price per square foot all affect how much weight a sale deserves, and very large towers have few direct comparables.
- A building that opened in 1983 may require capital for systems, finishes and amenities, and a buyer will account for those costs in the price.
Teel Valuation Group prepares appraisals and appraisal reviews for lenders, attorneys, fiduciaries, agencies, and property owners across commercial, multifamily, land, and special-purpose property. Learn more about our office valuation services or connect with an expert at 713-467-5858.
Source: “The Third-Tallest Skyscraper in Texas is For Sale,” Realty News Report, September 21, 2026. https://realtynewsreport.com/the-third-tallest-skyscraper-in-texas-is-for-sale/