Aggreko LLC will relocate about 40 employees from Ellington Field into half of the second floor at 15600 JFK Blvd., a nine-story office building with 195,000 sf. Chicago-based Equity Office is the owner and manager while Houston's Transwestern Commercial Services leases it. The building's going rate is $18 per sf gross.
Aggreko's five-year lease took occupancy to 72%. David Baker, an executive vice president for Transwestern, tells GlobeSt.com that the inbound firm took one of the larger spaces to open up in the building in a long time. He and Transwestern's Clint Bawcom bargained the pact, with Edward Prejean of the Staubach Co. doing the talking for the tenant.
Baker says the holding was at 66% earlier this year when Transwestern took over the assignment. Since then, a couple smaller deals and Aggreko's lease closed.
Baker also says the building's convenient location to the George Bush Intercontinental Airport and the freeway network are helping the leasing campaign. The immediate neighborhood includes several hotels.
"We're seeing more companies interested in upgrading their spaces in a 'flight to quality' while the market is still favorable," Peter Johnston, Equity's senior vice president in Houston, says in a press release.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
