Bill Gump, Austin leasing manager in Houston for Fort Worth-based Crescent Real Estate Equities Co., represented the building owner, PT BK One Tower LP. Kathy Carr of Austin-based Commercial Texas negotiated for Energy Worx. Details about the transaction and move-in were not available by publication time.
Bank One Tower, a 21-story, 389,503-sf building at 221 W. Sixth St., is 95.7% leased. Built in 1974, it was renovated in 1995.
The CBD's overall vacancy rate was 21.2% at the end of the 2002 fourth quarter, according to Colliers International's market survey. For class A properties, the vacancy rate was 23.1%. The class A rent averaged $24.44 per sf.
Southern Union, based in Wilkes-Barre, PA, is an energy distribution company serving about one million customers in Missouri, Pennsylvania, Rhode Island and Massachusetts. The Energy Worx subsidiary oversees Southern Union's energy assets in strategic partnerships. It has a multi-year agreement with Southern Star Central Corp. to manage its Central Pipeline. The executives leading Energy Worx had been with Southern Union Gas Corp., which Southern Union is selling to Tulsa-based Oneok Corp. Southern Star Central Corp. is a private equity fund sponsored by American International Group Inc.
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