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Tech Firm Renews Office Lease

HOUSTON-After a year of looking, Diverse Networks re-ups 16,407 sf with a medium-term lease to keep a Parkway Properties' office building filled to the brim. The tenant was heading out the door six months early, but then takes the convincing offer to stay.

By Jennifer Brenner Andrade | Updated on June 29, 2004

HOUSTON-Diverse Networks Inc., a high-tech firm based in Houston, has signed a medium-term renewal for a 16,407-sf office at 550 Greens Parkway in the North Belt/Greenspoint submarket.

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.

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