Sterling Bancshares Inc., a Texas banking institution headquartered in Houston, signed an early renewal and lease extension for 41,117 sf at 2550 N. Loop West, a headquarters location for about 4.5 years. Steve Rocher and Kristen Rabel in the Houston office of Grubb & Ellis Co. represented the building owner, Unilev Management. Bruce Fehn and Mark Nicholas, brokers with the Houston office of the Staubach Co., represented Sterling Bancshares.
The 154,000-sf, class B property is at 90% occupancy. Asking rental rate per sf is $16.50.
Houston newcomer, Meximerica Media Inc., took 4,745 sf at 9950 Westpark Dr. The space will be used for the offices of a new network of Spanish language newspapers that will be circulated throughout the country.
The Westpark office is firm's second in Texas. The paper will be known as Rumbo, which means "heading North for a better life."
Keith Lloyd and Rick Bailey with Grubb & Ellis represented the tenant and building owner, Boxer Properties, used an in-house to negotiate its terms. The asking rental rate is $12 per sf.
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