Details are limited about the newest deal for the 707 Travis St. landmark, still known by many locals as the Texas Commerce Building. "The building itself is well occupied," says John Spafford, a vice president with locally based PM Realty Group. "Such a high-profile tenant is important both for the building and for the downtown area as well." He did say there are no renovations are planned for the firm's office.
Mosbacher Energy, which has been a 20-year tenant of the property, was represented by Edward Prejean and Steve Burkett of the Staubach Co.'s Houston office. Spafford negotiated the deal for the building owner, JPMorgan Chase of New York City. According to PM Realty's website, the 807,721-sf complex's quoted rent is $9.50 per sf.
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