Mark Preston and Keith Lloyd, both senior vice presidents with the Houston office of Grubb & Ellis Co., comprise the new marketing and leasing team for the holding of Koswood Investment Corp. Lloyd tells GlobeSt.com that the property is undergoing an extensive renovation to prepare for a spring 2002 reopening.
Citiscape is designing the renovation. The building will get a silver glass-curtain wall and advanced HVAC systems. Lloyd says the finished product will be a solid, class A, boutique West Loop-Uptown Galleria property.
The property will "cater to companies looking for a West Loop presence," he says. The right tenants, he adds, can garner naming rights to the building or even the marquee. Lloyd says he is talking to several tenants in the 35,000-sf to 100,000-sf range.
The building, which borders Loop 610, Post Oak Park and Post Oak Boulevard, reportedly will boast superior ingress and egress capabilities in comparison to other buildings in the area. Despite its fine expectations, the project must face the fiercely competitive, soft West Loop-Uptown Galleria atmosphere that presides right now. The 28 million-sf Uptown Galleria submarket has almost 4.5 million sf of vacant office space, according to third quarter research.
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