Upgraded electrical facilities have been installed in the recently completed building, which has been named Houston Telecom Exchange. The first tenant in the project has been signed, Global One, a provider of telecommunications services. Global One is leasing 21,220 sf in the Houston Telecom Exchange, located at 7100 Business Park Dr. near Beltway 8.

Global One will become fully operational by Dec.1. The partnership purchased the building from the developer, Vantage Cos. Global One, which is owned by France Telecom, provides data and voice telecommunications services for businesses, carriers and consumers around the world. A number of telecommunications buildings, which have extensive fiber optic lines and top grade electrical power, have been constructed in Houston recently.

San Antonio-based Koontz McCombs is a commercial real estate firm founded by Bart Koontz and BJ. "Red" McCombs. McCombs also is the owner of the Minnesota Vikings, McCombs Energy and other firms. Blackacre Capital Management is a real estate investment management firm affiliated with Cerberus Capital Management. Insignia Financial Group and its management services company, Insignia/ESG, manages, leases and develops commercial properties across the nation.