THE WOODLANDS, TX-Praxair Inc. will relocate its regional Houston office to The Reserve at Sierra Pines, a 175,000-square-foot, class A building. The publicly-traded company, which manufactures industrial gases, signed a long-term lease for 60,903 square feet.
Currently, Praxair has a sales office at 222 Pennbright Dr. in the Greenspoint submarket. It will move into its new space at 1585 Sawdust Rd. in mid-November and will occupy the entire top floor of the recently completed building, according to Brad Fricks, vice president of Stream Realty Partners L.P., which owns The Reserve at Sierra Pines.
Fricks represented the building owner in lease negotiations, along with Paul Coonrod, also with Stream Realty. Jon Silberman, Griff Bandy, Joel Michael and Chris Caudill of NAI Houston represented Praxair Inc.
“Praxair was tired of being in an older building and having the problems associated with older buildings,” Fricks explains.
Fricks tells GlobeSt.com he and Coonrod worked on the Praxair deal for close to two years. “This was a long, long courtship,” he says. “Praxair looked at a bunch of other buildings, and every time we turned around, it seemed like the broker would come up with another alternative to negotiate a better deal with us. We were competing with both older buildings and newer buildings along the Waterway.”
Ultimately, Praxir decided to go with The Reserve at Sierra Pines because of the building’s contemporary design and construction, as well as price and floorplate efficiency. “We’ve got a brand new building at a reasonable price,” Fricks points out. “It’s definitely an improvement for them in terms of the building, and I think they were ready for that.”
Praxair is now The Reserve at Sierra Pines’ largest tenant, and as such, it received monument signage, Fricks says. With two other tenants totaling 21,000 square feet, the LEED Silver building is now 46.7% leased.
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