Skanska and Bank of America Announce Renaming of Capitol Tower to Bank of America Tower

HOUSTON, May 23, 2019 /PRNewswire/ -- Skanska and Bank of America today announced the new name for Capitol Tower, Skanska's premier office development in Houston's Central Business District. After securing naming rights in 2017 as the anchor tenant, the financial services firm has renamed the 35-story Class-A office building to Bank of America Tower.

"We are excited about the opportunities that Bank of America Tower creates for our clients and our employees," said Hong Ogle, Houston market president, Bank of America. "Having our teams together in this new contemporary workplace allows for stronger collaboration to deliver the full breadth of our capabilities and better serve our clients."

In a deal that kicked off vertical construction in 2017, Bank of America signed a lease to occupy a total of 210,000 square feet, spanning six-and-a-half floors of the sustainable office tower. The company will have 205,000 square feet of office space, as well as a 5,000-square-foot financial services center on the ground level at the corner of Capitol Street and Travis Street.

"We are delighted to have a prestigious global institution like Bank of America as the anchor tenant at this game-changing development that redefines the office experience in Downtown Houston," said Matt Damborsky, executive vice president for Skanska USA Commercial Development in Houston. "For the last two years, Capitol Tower has been an icon rising in Houston's skyline. We are confident that Bank of America Tower will offer tenants an unparalleled experience that blends community, culture and commerce in a way that reflects the future of the workplace and the vibrant cultural fabric of the great City of Houston."

Robert Ward, president and CEO for Skanska USA Commercial Development, added that the renaming of the development is a first for Skanska, one of the world's leading construction and development companies.

"Today marks another exciting milestone for Skanska's growing commercial development business. Over the past 10 years, we have developed, designed and delivered sustainable, innovative and high-quality projects like Bank of America Tower around the country," said Ward. "We are proud to remain on the cutting edge of sustainable office development and will continue to focus on developing projects that make a positive impact on our customers and our communities. Bank of America Tower is a shining example of how Skanska focuses on placemaking and thoughtful, sustainable design to create a dynamic and iconic destination."

Located at 800 Capitol St., Bank of America Tower is situated on a prime block in the Central Business District, near landmark cultural neighbors that include the Theater District, the historic Market Square and Buffalo Bayou Park. Designed by architectural firm Gensler, the tower offers 754,000 square feet of office space and over 35,000 square feet of engaging public space at Understory, an inviting, open-air community hub that includes a full-service restaurant and a 9,000-square-foot culinary market with seven diverse chef-driven concepts and a cocktail bar.

Designed by the Michael Hsu Office of Architecture, a central feature of Understory is the open-air blending of the street and tunnel levels, facilitated by the "Great Steps," a 30-foot-wide monumental staircase and gathering place that creates the first true street level gateway to the tunnel network. When Understory opens next month, it will be the first space in the tunnel network to be active seven days a week, from morning to night, with a wide variety of culinary, retail and cultural offerings. In addition to engaging local art, the community will enjoy access to high-speed Wi-Fi, mobile device charging stations, games and thoughtful furniture arrangements, as well as a state-of-the-art fitness center for the exclusive use of building tenants.

Tenants at Bank of America Tower will also have access to The Assembly, a 10,000-square-foot state-of-the-art conference and private events center that features three dynamic meeting venues. The Assembly is connected on the 12^th level to the 24,000-square-foot SkyPark, the first and largest green roof in Downtown Houston to be open to all building tenants.

Current tenants at Bank of America Tower include:

• Skanska (12,481 square feet, floor 12)
• Bank of America (210,000 square feet, floors 14-20)
• Winston and Strawn (62,515 square feet, floors 23-24)
• Waste Management (284,000 square feet, floors 25-33)
• Quantum Energy Partners (32,000 square feet, floors 35-36)

When Bank of America Tower opens next month, it will be the most sustainable office tower in Texas, using 25 percent less energy than typical baseline facilities. One of only four core-and-shell projects nationwide to be pre-certified under LEED v4 Platinum, Bank of America Tower's sustainable features include:

• a 50,000-gallon rainwater collection system for reuse in landscape irrigation and restrooms;
• secured bicycle storage room with access to lockers and showers;
• One block proximity to three MetroRail stations;
• 90 percent access to daylight and views for tenants;
• a high-performance façade that significantly reduces solar heat gain;
• an energy recovery wheel to precondition fresh air intake; and
• district cooling to provide chilled water throughout the facility, which lowers cooling costs and offers unlimited service capacity to tenants.

Skanska's other developments in Houston include the two-building West Memorial Place project, which is the first LEED Platinum campus in the Energy Corridor. West Memorial Place offers direct access to the Terry Hershey Park hike and bike trails. Skanska also developed 3009 Post Oak, a 302,000-square-foot office building in the premier Uptown Houston location at Post Oak Blvd. and Hidalgo.

Skanska has built and restored local landmarks in Houston for decades, ranging from historic renovations, like San Jacinto Memorial Building on the Houston Community College campus, to the new construction of world-class sports facilities including NRG Stadium, and invaluable healthcare resources like the expansion of LBJ General Hospital's emergency department. Skanska continues to leverage its local knowledge and global expertise to shape the region's commercial, healthcare, sports and entertainment facilities.

This and previous releases can also be found at www.usa.skanska.com.

Skanska is one of the world's leading construction and development companies. In the U.S., Skanska's core operations include building construction, civil infrastructure and developing self-financed commercial properties, which together generated $8 billion in revenue in 2018. As a developer in the U.S., Skanska has invested a total of $2.3 billion in commercial and multi-family projects. With U.S. headquarters in New York City, Skanska has offices in 28 metro areas with 9,000 employees nationwide. Skanska is an industry-leading innovator in both safety and project execution, and offers competitive solutions for both traditional and complex assignments to help build a more sustainable future for our customers and communities. Global revenue of parent company Skanska AB, headquartered in Stockholm and listed on the Stockholm Stock Exchange, totaled approximately $20 billion in 2018.

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,400 retail financial centers, including approximately 1,800 lending centers, 2,200 financial centers with a Consumer Investment Financial Solutions Advisor, and 1,500 business centers; approximately 16,400 ATMs; and award-winning digital banking with more than 37 million active users, including over 27 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange.

SOURCE Skanska USA

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http://www.usa.skanska.com