Paul Layne, Trizec's senior vice president in charge of the Western Region, said in a press release that the interest has picked up in downtown office space. The new deals brought new names for Continental Center I, KBR Tower and 500 Jefferson St. and Clear Lake's 3700 Bay Area Blvd.
The 1.1-million-sf Continental Center I at 1600 Smith St. accounted for three of the six leases. Southwest Bank of Texas, taking the largest block, moved into 23,271 sf under a three-year lease. Paul Frazier, vice president of leasing in Houston for the Chicago-based Trizec, tells GlobeSt.com that Southwest Bank owns a building at 1801 Main St., but is out of space. The bank expanded into space emptied at least a year ago by Continental Airlines. Kirk Pfeffer of Lonestar Alliance was the bank's broker.
Also moving into Continental Center I were Tana Exploration Co. LLC of Houston, which signed a five-year lease for 11,347 sf, and Stinnett, Thiebaud & Remington LLP, a Houston-based law firm, now occupying 8,974 sf. The trio of deals hikes occupancy to 80% in a high-rise with a quoted rate of $23 per sf.
Margaret Sigur, Trizec's leasing manager, brokered the deal with Tana Exploration's reps, Bob and John Parsley, both in Colliers International's Houston office. The law firm was represented by Brandi Gawlikowski and Rich Pancioli, both with the Houston team for Trammell Crow Co. while Trizec had leasing agent, Gary Loh, doing its bargaining.
At Kellogg, Brown & Root Tower at 601 Jefferson St., Jeanneret & Associates, a local consulting firm, inked a 10-year renewal for its five-year office of 9,806 sf. Frazier represented Trizec and Robert Sebastian of Sebastian Realty Advisors handled negotiations for the tenant. The one-million-sf building, with occupancy at 90%, has a quoted rate of $16 per sf.
At nearby 500 Jefferson St., another Houston law firm--Lapin & Landa LLP--turned on lights in 7,922 sf. Trizec's Sigur negotiated a five-year lease with Trey Strake in the Houston office of Cushman & Wakefield of Texas Inc. The 390,000-sf building, with rent quoted at $14 per sf, is now 75% leased.
In Clear Lake, Baytek International, a high-tech firm for the petrochemical industry, moved into 3700 Bay Area Blvd. in a relocation from Corpus Christi. The firm signed a six-year lease for 10,979 sf in the 399,000-sf building, which is 90% leased. It has a quoted rate of $18 per sf. Frazier brokered terms for Trizec and Angus Hughes in C&W's Houston office negotiated for the tenant.
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