HOUSTON-The Lakes on Post Oak, a class A office property in the Galleria submarket, has reached 90% occupancy with the signing of two medium-term leases totaling 17,851 square feet. Argus Software Inc. renewed its lease for 13,635 square feet and Sudhoff Properties of Houston Inc. committed to a new lease for 4,216 square feet.
Argus Software, which designs and development technology for the commercial real estate industry, has been a tenant in the 338,655-square-foot, 17-story building for 10 years, according to Cody Armbrister of CB Richard Ellis’ local office. He represented the building owner, New York City-based DRA CRT Post LP, in both lease transactions.
Armbrister tells GlobeSt. he’s been working with Argus to renew its lease since late 2009. “The Argus deal was shopped hard and was very competitive,” he notes. “They considered other submarkets as well. We worked with them on reconfiguring their space for a more productive design for their professionals.”
Chad Beck and Don Foster of Jones Lang LaSalle represented Argus in lease negotiations. Charles Fertitta of Colliers International’s local office represented Sudhoff Properties.
“Sudhoff Properties is a very successful residential real estate brokerage firm in South Texas that has opened up operations in Houston,” Armbrister says, noting that he began negotiating with the firm in June. “Sudhoff deal was a great fit as the space was walk-in ready and afforded them great visibility and accessibility for their customers and agents given its prime first floor location overlooking our lakes.”
Located at 3050 Post Oak Blvd., The Lakes on Post Oak was built in 1980 and received a major renovation in 2005.
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