HOUSTON-GDF SUEZ Energy North America has decided to stay put in Three Post Oak Central. After a yearlong search for a new home, the energy company has signed an early lease renewal for 127,673 square feet.
GDF SUEZ had about three years left on a 10-year lease, and the new lease term is also 10 years, according to Harry Holmes II, managing principal of Newmark Knight Frank’s local office. He represented GDF SUEZ in the deal, while CAPSTAR Commercial Real Estate and Eric Siegrist of Crescent Real Estate represented the landlord, Crescent POC Investors LP.
Holmes tells GlobeSt.com that GDF SUEZ had been in discussions to relocate to two yet-to-be constructed buildings, as well as another building in the Galleria area and one in the Greenway Plaza submarket. The company decided to remain in its existing space for several reasons including: the economics, the amenities and the quality of the landlord.
“GDF SUEZ has a good relationship with Crescent,” Holmes notes. “The company also likes the building and the area and thought now would be a good time to recommit.”
Located at 1990 Post Oak Blvd. in the Galleria submarket, Three Post Oak is a 24-story, class A office building. The 420,000-square-foot building is one of three office towers that comprise Post Oak Central, which is a Philip Johnson project that consists of nearly 1.3 million square feet of class A office and retail space in three 24-story buildings with attached parking garages.
As part of the lease renewals, GDF SUEZ received expansion options and rights of refusal. Moreover, the company’s name will go up on all three sides of the triangular-shaped building. (It currently has signage on one side.)
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