Kenneth Wise of the Houston office of Jones Lang LaSalle tells GlobeSt.com that vacancy in the Galleria submarket, including sublease space, was 18.44% at the end of the second quarter. Westchase is posting a 27% vacancy and Northbelt, 24%. As for the rest of the market's standing at the Q2 close: Stay tuned, more information will be formally released in the near future.

Wise, like others who work in the Galleria submarket, is feeling optimistic thanks to a leasing flurry in recent weeks. Three deals, totaling about 34,000 sf, have closed for Walden Street Capital's 2700 Post Oak Blvd., a 25-story, 490,152-sf tower.

Wise represented Chicago-based Walden in leases with Trinity Consultants Inc., Cumulus Media Inc., GLOFEX LP and attorneys Jones Young Husain. Wise said the rates ranged from $21 per to $23 per sf and terms ranging from three to 10 years. With the new deals, the building is 74% occupied.

Dallas-based Trinity Consultants reserved 12,615 sf on the building's 17th floor. Don Foster of the Houston office of Dallas-based Staubach Co. represented the tenant. Cumulus Media Inc. leased 11,856 sf on the 23rd floor. Staubach's Bruce Fehn negotiated the deal for Cumulus.

Foster also represented GLOFEX LP in a 5,731 sf on the 10th floor while the law firm took 3,361 sf on the 12th floor. The attorneys brokered their own deal.

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