The circuit board manufacturer considered a move, but ultimately decided to stay put at 12502 Exchange Dr., says Chris Caudill, a senior associate with NAI Houston. "Systronix is a growing company, but they don't know how much space they'll need in the future," he explains.
Caudill tells GlobeSt.com that economics was the main reason that Systronix re-upped. "There's a lot of new space coming onto the market so landlords must be aggressive," he explains. Systronix leased the space for three years. The 62,700-sf building, with quoted rents of $8.40 per sf to $9 per sf, is 97% occupied.
Caudill teamed with NAI Houston's Joel Michael to represent Systronix in the negotiations. Steve King with CB Richard Ellis Inc.'s Houston team bargained the terms for the local owner, CP Oakley LLC.
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