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University of Phoenix Adding Campus

HOUSTON-Looking for high visibility, easy access and ample parking, the institution leases 40,000 sf at Loop Central I in the Galleria area for its third campus in the Houston area.

By Jennifer Brenner Andrade | Updated on April 12, 2004

HOUSTON-The University of Phoenix has signed a long-term lease for its third Houston campus. The educational institution committed to 40,000-sf at Loop Central I in the Galleria area. One of the brokers in the deal, Rich Pancioli with the Houston office of the Trammell Crow Co. tells GlobeSt.com the site requirements were a central location not covered by its other campuses, tremendous visibility, ample parking and proximity to food service. The plan is to have the building ready for classes in mid-2005, he says. Located at 4888 Loop Central Dr., just south of the intersection between Loop 610 and the Southwest Freeway, Loop Central I is close to the new Westpark Tollway, the Galleria, the Medical Center and Downtown Houston. It was one of three buildings identified as possible locations. The building ultimately won out because it is “in the middle of everything,” says Pancioli. The 178,503-sf Loop Central I building is owned by Dallas-based Lincoln Property Co. Asking rates at the 24-year-old office building are $20.50 per sf. Loop Central I is part of a three-building, seven-acre office complex. According to Pancioli, the University of Phoenix will eventually open a fourth area campus–its other two locations are in far west Houston and northwest Houston–but has yet to begin an official search.Pancioli along with Brandi McDonald and Mark Bailey, also of Trammell Crow’s Houston office, represented the University of Phoenix in the yearlong search for an additional location. Rosemary Kogler and Brian McMackin with the Houston office of Lincoln Property Co. represented the building owner in the lease negotiations.

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