The local company, which deals in oil and gas exploration, has just moved into the extra room at 10333 Richmond Ave., a 225,000-sf property located in the Westchase area, which has a quoted lease rate of $20 per sf. The firm's headquarters previously totaled 4,920 sf. "They've been in this location since around 2000. This deal represented an expansion and overall extension of the lease term," says Virgil Hydes, leasing manager in Houston for Dallas-based Lincoln Property Co. Hydes represented the building owner, W9/LWSII Real Estate Ltd. and Focus Group relied on an in-house representative.
Hydes tells GlobeSt.com that minimal renovation was required with the expansion in the building, which was built in 1983. He adds that the building occupancy, at this time, is 91%.
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