Capstar Awarded Leasing Of Edison Plaza

BEAUMONT, TX-Lexington Realty Trust has awarded the leasing assignment of its 425,198-sf Edison Plaza to Capstar Commercial Real Estate Services. Capstar has been charged with filling up and stabilizing the class A building, which is home to Chicago Bridge & Iron Co. N.V. and Entergy Corp.

Property One Inc. of Beaumont had the leasing assignment for the building at 350 Pine St., and according to Capstar Commercial Houston office vice president Brian McMackin, the company did a great job in securing long-term leases with Chicago Bridge & Iron and Entergy. “I think Lexington’s idea behind engaging Capstar had to do with wanting a company out of Houston,” says McMackin, who is working with Capstar vice president Clint Bawcom on the assignment.

McMackin tells GlobeSt.com that close to 114,000 sf of the early 1908s building is vacant, leaving a 73% occupancy. Entergy has five floors; Chicago Bridge & Iron has four, with 75,000 sf of contiguous space currently available along with other parcels. The lease asking rate is $15.50 per sf, net. McMackin says the building is ideally positioned to take advantage of Beaumont’s downtown district, as well as the city’s waterfront. “There’s been a tremendous amount of investment in the Port of Beaumont,” he says. “The city is also working on an active downtown.”