The accounting firm's seven-year deal takes effect Jan. 15 and brings the 45-story tower to 97% occupancy, says Joe Peddie, senior director of Cushman & Wakefield of Texas Inc.'s local office who represented the inbound tenant, Gainer, Donnelly & Desroches, in the deal. Building owner, Equity Office Properties Trust, was represented internally by director Steve Crawford.
Gainer, Donnelly & Desroches previously leased about 9,800 sf at 1177 W. Loop South and about 15,500 sf at 2500 CityWest in the Westchase submarket. The leases were co-terminus and were set to expire in one year.
Equity Office, which also owns 2500 CityWest, was able to apply a flexible framework to the firm's existing lease by transferring and expanding the firm's existing lease at 2500 CityWest to a new location within Equity Office's Houston portfolio. Peddie tells GlobeSt.com that while Gainer, Donnelly & Desroches would have preferred to move into either of their existing building, they decided to move into a new building for a fresh start.
"They chose San Felipe Plaza because of its quality and because its location was in between where the other offices were," Peddie says. "The location was a compromise to all partners and employees." Located in the West Loop Corridor on the corner of San Felipe and Augusta, the 21-year-old, 959,000-sf San Felipe Plaza leases for about $21 per sf.
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