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Houston Center's Class A Leasing Flurry Tops 505,500 SF

HOUSTON-Three renewals and three new pacts take the 3.3-million-sf complex's occupancy to 95%. Economics and East End positioning near a mix of sports facilities, entertainment, retail and residential are the deal-makers, brokers say.

By Jennifer Brenner Andrade | Updated on November 20, 2003

HOUSTON-A packet of six leases, with three renewals, has closed off 505,567 sf in the 3.3-million-sf Houston Center complex in the CBD, where office vacancy is 18.8%. Several tenants were lured by the East End’s redevelopment, a mix of sports facilities, entertainment, retail and residential.

Houston Center’s owner, Crescent Real Estate Equities Co. of Fort Worth, has latched onto a 95% occupancy with the spate of deals negotiated by in-house broker Debbie Wilson.

The largest signing is a 366,517-sf headquarters renewal by Lyondell Chemical Co. at 1 Houston Center, where the quoted rate is $21 per sf. A tenant since 1986, Lyondell signed another long-term lease.

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