The seventh-floor office is RWE's first US location and will serve as the US headquarters. The signing takes the 674,246-sf office building to 97% occupancy.
"Houston is the nucleus and core of the energy industry. It is the place to be for energy trading," says Bill Corrsh, RWE's president. "In addition to positioning us to thrive in a city rich in energy services, Houston Center's location and amenities met all of our business and employees' needs."
Debbie Wilson, leasing manager for Houston Center, represented the building owner, Ft. Worth-based Crescent Real Estate Equities LP. The Calibre Group Inc.'s Candace Baggett, president, and Marian Livingston, vice president, negotiated on the tenant's behalf. "We faced a number of challenges in negotiating RWE Trading Co.'s complex lease," Baggett tells GlobeSt.com. "Our mission was to structure a flexible lease that would meet RWE's technological infrastructure requirements, while also allowing this major company maximum opportunity for growth." The office building's unobstructed floor plates played a key factor in the decision-making process, she says.
"Another challenge was that space availability in downtown Houston remains somewhat tight for tenants of class A buildings," Livingston adds. She says her research puts class A vacancy at roughly 5% and closer to 8% if sublease space is factored into the tabulation.
RWE Trading runs wholesale trading in the European market and will trade energy, gas, coal and oil under the name RWE Trading Americas Inc. The company has trading offices in London and sales and trading offices in Hoofdorp near Amsterdam, Warsaw, Paris, Madrid and Vienna.
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