ICONIXX occupies 37% of the building, filling floors two and four. The four-story structure is about 92% occupied. Land N Sea Corp., the second-largest tenant, leases 26% of the office space.
The 22-year-old suburban building, owned by a Dundee, IL-based partnership, was renovated about four years ago. Office space is advertised for $13.50 per sf. According to Trione & Gordon's third-quarter review, the North Loop/Highway 290 area has average lease rates of $16.43 per sf. The area has an office inventory of more than eight million sf and a vacancy of 15.47%.
Mary Descant Caldwell of Caldwell Watson Real Estate Group in Houston represented the building owner, Northchase MLCV, in the renewal talks. Kyle Kelley and Drew Morris, both with Houston's Trione & Gordon, bargained for the tenant.
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