Ryan & Co. was represented by Jim Duggan of Duggan Realty Advisors LLC in Dallas. Ronnie Martin and Michael Anderson, both with Hines represented Transco Tower Ltd., the building owner. The 1.5-million-sf, 64-story office structure is now 65% leased. Its major corporate tenants include Tulsa, OK-based Williams Co., Van Kampen Investments Inc. of Oak Brook Terrace, IL, the New York City-headquartered Smith Barney division of Citigroup Global Markets Holdings Inc. and locally based Hines Interest. Average rents in the area range from $18 per sf to $22 per sf, according to Martin.

The Uptown Houston market, also known as Galleria West, has been one of the city's softest office markets in the last three or four years, incurring substantial vacancies, Martin explains to GlobeSt.com. What has aggravated the situation is the amount of road construction going on in the area. "Once construction is completed in late 2005, it will be a strong market office again," he predicts.