First American Real Estate Solutions, an Anaheim, CA-based provider of real estate-focused public record information, analytics and services has leased 6,050 sf at Legacy Park Business Center at 10920 West Sam Houston Parkway in northwest Houston. The firm has signed a five-year lease at the property and will move in at the middle of this month, Mark Lehman with the Houston office of Grubb & Ellis Co. tells GlobeSt.com.
Lehman represented the tenant in the lease negotiations. He says the firm is moving from office space near the CBD. Lehman says his client considered several traditional office options, but was attracted to service center space with a 100% office finish because of the lower prices.
The financials of the deal were not disclosed, but asking prices for that area are about 90 cents per sf gross. Traditional office space in the area where this building is located runs approximately $15.76 per sf and office space near the CBD has asking rents that average $21 per sf.
The building, which according to the Harris County Appraisal District has 95,465-sf is owned by BRI/Legacy Park Business Center Ltd.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.