Air Routing International penned the early renewal for 2925 Briarpark Dr. while tapping Columbia Centre at 11011 Richmond Ave. for the data center space. Tenant rep Randy Wilhelm in the Houston office of NAI Partners Commercial says the decision to take a second location for the data center was done as a strategic back-up in the event of a disaster. Air Routing provides services such as international and domestic flight support and international aviation weather watching.
The buildings, located two miles apart, are owned by a limited partnership of Dallas-based Granite Properties. Wilhelm tells GlobeSt.com that Air Routing International, a building tenant for about 15 years, signed a long-term renewal for the 12-story, 228,883-sf Briarpark Drive building. He says his client seriously considered buying or building a headquarters, but decided to renew early because "the economics made sense." The 2925 Briarpark Dr. building carries a quoted rate of $21.50 per sf whereas the going rate is $18.25 per sf in the 166,346-sf Columbia Centre. Bubba Harkins with the Houston office of Granite Properties represented the building owner in both transactions.
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.