Randy Wilhelm with NAI Houston tells GlobeSt.com that the firm spent more than a year looking for a relocation site, specifically a high-tech campus setting either along the North Belt or in the Woodlands. And, he says, the firm was ready to make an early exit when the building owner, Parkway Properties Inc. of Jackson, MS, got "very aggressive" and made an offer that the original building tenant couldn't refuse. The final paper was signed six months before the existing pact was set to expire, according to Wilhelm, who brokered the tenant's terms along with NAI Houston's Mary Dadura.
Parkway Properties used in-house broker, Kimberly Lankford, to negotiate its terms to retain the tenant and a 100% occupancy in a four-year-old, 72,050-sf office building. The quoted rent ranges from $19 per sf to $19.50 per sf.
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