"Dunn was looking to move west and to save some money," says Mike Boehler with Dallas-based Staubach Co.'s Houston office. The firm will exit 12,000 sf at 3000 Richmond Ave. in Greenway Plaza.
Boehler tells GlobeSt.com that nearly all of Dunn's employees live near the Sam Houston Tollway or farther west. Moving to Westchase will save 30 to 40 minutes of commute time each day. "Dunn could have found a less expensive building in Greenway Plaza, but [the thought] was if they're going to move, go ahead and move closer to home," he says.
Of equal importance, the new lease allows Dunn to save about 20% on its real estate cost, Boehler says. "It's a better economic deal," he says. The 23-year-old building leases for $14.25 per sf, with the new deal taking the 27,000-sf, class B building to 81% occupancy.
Dunn's new lease includes dedicated covered parking, a building sign and first right of refusal for expansion, Boehler says. He adds the company had limited covered parking at 3000 Richmond, but couldn't get its name on the building.
According to Boehler, Dunn looked nearly nine months for office space and almost committed to another building before deciding to relocate to 3500 S. Gessner Rd. Boehler and Staubach's Bruce Fehn were the tenant's brokers while Janae Evans of Evtex Property Alliance represented the building owner, 3500 S. Gessner LLC, a local investment group.
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