The corporate executives for AROC Inc. of Houston, a building tenant for more than three years, looked at the market options, but opted to stay to avoid incurring moving expenses, John Hornbuckle with Cypressbrook Co. in Houston tells GlobeSt.com. He says the five-year deal brought a 4,000-sf downsizing.
The quoted rate is $16 per sf in the 100,352-sf, class B building located near the intersection of Interstate 45 North and FM 1960 in a submarket with an 11.6% vacancy. Other tenants include Columbine Healthcare Systems Inc., Germany Oil Co. and Leonard-Hawes Real Estate School. Mark Clarke of BGK Texas represented the building owner, Cypress Court Operating Associates, in the negotiations.
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.
