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Houston Telecom Exchange Lassos 70,542-SF Tenant

HOUSTON-In the strapped telecom market, the 216,000-sf Houston Telecom Exchange has reeled in a big signing. Houston-based Apache Telecom's 70,542-sf signing takes the new class A product to 50% occupancy.

By Jennifer Brenner Andrade | Updated on July 26, 2001

HOUSTON-The Houston Telecom Exchange has scored a major play in the sagging telecom market, signing Apache Telecom LP to a 70,542-sf lease. The northwest Houston property is a 216,000-sf, class A telecom hotel situated at 7100 Business Park Dr., well positioned at the northwest corner of Beltway 8 and Texas 290. Its new tenant, headquartered in Houston, is a telecom services provider that specializes in wireless communication infrastructure.

San Antonio-based Koontz McCombs LLC, New York City’s Blackacre Capital Management LLC and Insignia Financial Group Inc. is the building owner. Insignia/ESG is a major player in the telecom market, currently managing more than five million sf of telecom space in Houston, San Antonio, Chicago, New York and Atlanta.

Derek Beck and Jerald King of Insignia handled the lease negotiations. Beck tells GlobeSt.com the telecom hotel is quoting annual lease rates from $11.20 per sf to $12.50 per sf triple net. Beck’s mum about lease terms, but the ads place terms from five to 15 years.

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