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Law Firm Re-Ups 6,293-SF Office

HOUSTON-The McGehee & Pianelli attorneys sign a medium-term lease for a 10-year address at 1225 N. Loop West after looking around and coming close to an exit. Economics and property image seal the decision to stay, the tenant's rep says.

By Jennifer Brenner Andrade | Updated on December 16, 2003

HOUSTON-A local law firm is holding onto a 10-year address at 1225 N. Loop West in the northwest submarket with a medium-term signing that came as the deadline loomed on an existing 6,293-sf lease.

McGehee & Pianelli surveyed the market extensively and was close to moving, but then building owner, Fidinam Investment Consulting, put a deal-making package on the table, Randy Wilhelm of NAI Partners Commercial in Houston, tells GlobeSt.com. He says the property’s image and the package’s economics sealed the decision to stay. He and Bobbie Bozarth with Axis Properties in Houston represented the tenant while John Pruitt in the Houston office of CB Richard Ellis Inc. bargained for the Lugano, Italy-based building owner of the 184,351-sf suburban office property with a $17 per sf quoted rate.

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