The five-year tenant in the 21-year-old office building holds part or full ownership in 12 hotels in Texas and Louisiana. Its most recent project is a Hilton Garden Inn, which is being built along Sage Road near the Galleria.
Dan Boyles in the Houston office of NAI Partners Commercial represented the tenant. According to an NAI spokesman, the hotelier and broker surveyed the market before making the decision to stay.
The class B office building, with 140,241 sf, carries a quoted rate of $14 per sf. Erik Hougen of PM Realty Group in Houston represented the building owner, TR Richmond Avenue Corp., in the transaction.
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