In the bigger deal, the Texas Health and Human Services Commission leased 5,115 sf, says Vic Russo, senior vice president in the Austin office of Jones Lang LaSalle, which leases the building. In the other, Quantitative Environmental Analysis, based in Montvale, NJ, signed for 1,434 sf.
Russo represented the building owner, the Shidler Group, in the deals. Matt Watson of Austinofficespace.com represented Quantitative Environmental.
The state agency expanded from the neighboring Commodore II, where it leases 41,064 sf. Shidler also owns that building. The 800 Brazos lease runs with the agency's Commodore II lease, which expires in about a couple of years.
Quantitative, an environmental engineering consulting firm, has moved into its 10th floor office in a four-year signing. The company also has an office near Syracuse, NY.
Russo tells GlobeSt.com that the renovation of the 67,000-sf 800 Brazos continues. Exterior work should begin in 30 to 45 days. He says traffic from prospective tenants has been good. "We're seeing some fairly steady activity," he says.
The CBD's class B rent averaged about $20.18 per sf in the third quarter, down from $24.99 per sf at the close of the second quarter, according to Grubb & Ellis Co.'s market reports. The submarket's overall vacancy rate was 19.3%, flat from the previous quarter.
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