The Enron Corp. litigators took the 1111 Bagby St. space for less than five years because of the uncertain timeframe of the case, Charles Goldstein, a principal with Cresa Partners' Houston office, tells GlobeSt.com. For three years, Lerach Coughlin Stoia has occupied 28,206 sf on the 21st floor and 10,004 sf on the 48th floor. The lease was close to expiring, says Goldstein, who represented the San Diego-based law firm.
"Since they're already in the building and it fits their needs, it would have been silly and expensive for them to move," Goldstein says, adding that much of the space is built out with large rooms for depositions. "Plus it's close to Enron and the courthouse."
Heritage Plaza is a 53-story, 1.1-million-sf building owned by ING Clarion Realty Services of New York City, which was represented by Charles Giammalya and Brian McMackin with Dallas-based Lincoln Property Co.'s local office. Heritage Plaza is 90% leased, but occupancy will drop to 45% in May when ChevronTexaco moves to 1500 Louisiana St. The building, leasing for $11 per sf to 12.50 per sf, recently underwent a $3-million renovation.
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