Koch purchases Innova building to house its Houston operations - Houston Business Journal:

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Koch, the second-largest privately held company inthe country, planws to move its 600 employees into the uniques Greenway Plaza building within the next year. Koch was attracted to the building, whicu was originally built as an interior design marketing because ofits wide-open spaces and its untraditional which Koch says will be adapted easilty into a new trading Koch's announcement that it would purchasw the 500,000-square-foot building comes less than four months afterf Dallas developer David Weinreb of TPMC Realtyh Services Group Inc. announced plans to redevelop the buildin g into atraditional office. (See Dallas investor bids to revivde Innova, Nov. 22, 1996.
) At the time, Weinrebg disclosed that AMC Entertainment Inc. planned to build a 32-screen theateer on part of a 4.5-acrd parcel of land adjacent tothe building. Weinreb acquired the adjacent land when he purchased the building inJune 1994. Los Angeles-basede Sports Club Company. Inc. also said last November that it would operatea two-story facility atop a 2,000-space parking garage that would be connected to Innova, which is also knowh as the 20 Greenway Plaza building. Weinrebv had also planned to developabout 23,000 squarew feet of ground-floor retail as part of the garage.
Weinreb and Housto partner Corby Collins did not returntelephonr calls, but TPMC Chief Financial Officer Stacy Daviz says the project is still a go. "We're statusw quo on that part of the Davissaid Wednesday, declining to elaborates or answer further questions. Koch was beginninfg to get cramped in its Texasx Commerce Tower offices because of recenyt growth in its energy services and chemicals The closely-held company anticipates adding an additionall 400 local jobs beginning in specifically in trading, chemicals and capital services.
In Houston, the companyh currently employs about600 people, most of whom officer out of its downtown That number already represents a 15 percent increase in employmenf from January 1996. Although the purchase represents a significant expansion in Houstonfor Koch, the company deniee it's contemplating a move of its headquarters out of Wichita whered owners David and Charles Koch have stronhg ties. Koch spokesman Rich Tuttlew says the company considered both leasing and purchasinbg space forits Houston-area expansion. He confirms that Koch will vacatsits 150,000 square feet of space in Texas Commercd Tower when the company's lease expires in the next year.