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One Renewal, One New Deal Close

HOUSTON-Sterling Bancshares' headquarters is staying put in 41,117 sf at 2550 N. Loop West after execs work out an early renewal and extension. A Westpark Drive building lands Meximerica Media Inc., a new network of Spanish language newspapers.

By Bonnie Grota | Updated on July 13, 2004

HOUSTON-One tenant finalizes an early renewal and the other is a market newcomer, with the pair delivering office leases for a combined 45,862 sf.

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.

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