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Highlands Insurance Axes Penthouse in Lease Renewal

HOUSTON-A Halliburton insurance company spin-off has relinquished a 23,000-sf penthouse at a 310,000-sf high-rise. But, Highlands Insurance Group is holding onto two other floors in a renewal of its 11-year location.

By Jennifer Brenner Andrade | Updated on September 04, 2001

HOUSTON-A Halliburton Co. spin-off, Highlands Insurance Group Inc., has downsized its office space in a lease renewal at the 319,000-sf Westchase high-rise. The Lawrenceville, NJ-based firm has relinquished the 23,000-sf penthouse at 10370 Richmond Ave. while inking a pact for the 45,330-sf balance.

Greg Shaw of Insignia/ESG’s Houston office tells GlobeSt.com that the deal actually works out well for both sides because the 14th-floor location will be easy to market. Highlands is holding onto its two other floors. Shaw represents the building owner, Alder Properties Associates LP, and Mike Boehler of Dallas-based Staubach Co.’s Houston office handled the talks for the tenant.

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