Tondu Corp. signed a three-year lease and Berg-Oliver Associates Inc. made a five-year commitment for the class B-plus office building at 14701 St. Mary's Lane, says Kevin Brands, senior vice president and asset manager for CMD Realty. Both tenants were subleasing space from locally based Aspen Technology Inc.
Tondu Corp., a business development company, committed to 2,694 sf on the sixth floor after subleasing the space three years ago. Berg-Oliver Associates Inc. elected to stay put in 10,371 sf on the fourth floor. Both Tondu Corp. and Berg-Oliver Associates were represented by Wade Bowlin and Michael Martin with Houston-based PM Realty Group.
"It's to our advantage--and the advantage of the tenant--to take subleases and convert them to direct leases," Brands tells GlobeSt.com, adding both companies received limited tenant improvements with the new deals. The double play keeps the 194,646-sf, eight-story office building at 72% occupancy, he says.
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