The 12-year tenant looked around the market, but "the economics, location and building amenities were too good to pass up," Andre Granello with NAI Houston says in a press release about the renewal for 5718 Westheimer Rd. The deal keeps occupancy at 83% in the 491,092-sf, 22-story Coastal Banc Plaza, owned by UBS Brinson Realty Advisors LLC.
Coastal Banc is the lead tenant for a lineup that includes Duke Energy Field Services, Choice Energy Services LP and Gulfsands Petroleum. Lee Jeane in Trammell Crow Co.'s Houston office represented the building owner.
The building's quoted rate is $18 per sf to $19 per sf. Second-quarter research by Grubb & Ellis puts the submarket average at $20.79 per sf.
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