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Consultant Subleases 68,868-SF, Class A Building

THE WOODLANDS, TX-Hewitt Associates will take over 9012 New Trails Dr. in May, inking a below-market deal with an August 2009 term for its third location in the area. Sources say a separate pact for $1 seals a high-end, plug-and-play setup.

By Jennifer D. Duell | Updated on March 08, 2005

THE WOODLANDS, TX-An outsourcing and consulting firm has subleased a 68,868-sf, class A office building until August 2009. The building, empty nearly 18 months, gets lights turned on in May.

The Lincolnshire, IL-based Hewitt Associates LLC is taking over 9012 New Trails Dr., a six-year-old build-to-suit for Splitrock Communications Group Inc. The telecommunications company was acquired in 2000 by McLeod USA Inc. of Cedar Rapids, IA in a stock transaction for $2.1 billion.

Sources familiar with the deal tell GlobeSt.com that Hewitt Associates cut a deal “well-below market” for the office space. Similar buildings lease for $14.50 per sf. According to the source, Hewitt Associates inked a second deal for $1 for a plug-and-play setup filled with high-end office furniture and equipment.

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