Mark Wood of Henry S. Miller Commercial in Houston represented IDC in the negotiations. Mike Martin and Kim Grizzle with PM Realty Group, also in Houston, were on hand for the building owner, 11111 Wilcrest Green Associates.
Wood, a senior vice president with Henry S. Miller, tells GlobeSt.com that the per sf rate was in the mid-teens, with concessions including a build-out allowance, repainting and new carpet in one area. Otherwise, "the space was in good shape," he says about the new deal for the 22-year-old, 100,000-sf building.
The relocation took place, Wood continues, because IDC wanted to be closer to other engineering firms. "They're civil engineers," he says. "That whole area has a lot of engineers." Prior to the relocation, IDC was in Arena Tower at 7324 Southwest Freeway.
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