Gloria Parrino with Houston's Betz Commercial Brokerage Inc. represented J. Simmons Group in the lease negotiations. Parrino tells GlobeSt.com that her client moved into the 63,500-sf building as a start-up company four years ago, and has negotiated a five-year renewal/expansion deal. The tenant has already moved into the expansion space, she adds.
Parrino says she and her clients looked around at other possible space and considered purchasing a property, but the fact that the firm was already entrenched in a building that had adequate room for expansion won the day.
Northport Service Center is has two buildings totaling 127,000-sf and is owned by Essex Houston Industrial Portfolio LP. Faron Wiley of the Houston office of the Trammell Crow Co. represented the building owner in the lease negotiations. Annual asking rents at the property run $4.80 per sf.
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