Deal Tracker: Downtown Office Marketing and Leases Aplenty

Central United Life Insurance Company is marketing space at 10777 Northwest Freeway.

HOUSTON— Central United Life Insurance Company purchased the eight-story 157,595-square-foot corporate headquarters office building located at 10777 Northwest Freeway four years ago from a subsidiary of Aetna . It is now home to Manhattan Life Insurance Company , which has its name on the building, as well as Family Life Insurance Company, Western United Life Assurance Company and Central United Life Company. NAI Partners property services division has been awarded the leasing and property management assignment on behalf of Central United Life Insurance Company for the office building. “Having enjoyed such a long-standing brokerage relationship of over 20 years with Central United Life Insurance Company, NAI Partners was grateful to see that relationship expanded to our property services division. We are very excited about the opportunity to work with their ownership on providing leasing and management services to its corporate headquarters,” says Jim Tainter , NAI Partners’ managing director–property services division. Located on the south side of US 290 (Northwest Freeway) less than five minutes from Loop 610, the building boasts ample garage parking, 24/7 security, and a first-floor eatery, Stalla’s Greek Grill and Deli. In office leasing news, Patterson-UTI Energy Inc. took 35,553 square feet of office space located at Remington Square II at 10713 W. Sam Houston Pkwy. North. This location will serve as Patterson-UTI Energy’s corporate headquarters. Currently, Patterson-UTI Energy Inc. is occupying approximately 29,172 square feet of office space located in the Greenspoint area, however, the space is not contiguous. The new space will provide Patterson’s employees a more efficient workplace with added amenities. Patterson-UTI Energy is the first tenant to occupy the largest office building in the development. Dan F. Boyles Jr. and Liz Westcott-Brown of NAI Partners represented Patterson-UTI Energy in the negotiations, while Ryan Bishop and Brad Fricks of Stream Realty represented the landlord, Sun Life Assurance Company of Canada. Engineering and architectural firm, Johnston LLC leased 23,700 square feet of office space located at 2603 Augusta. Griff Bandy of NAI Partners represented Johnston during lease negotiations, while Kim Shapiro and Mike Martin of PM Realty represented the landlord, 2603 Augusta Investors LP . Canyon Midstream Partners leased 11,217 square feet located at 4 Houston Center (1331 Lamar) in downtown. Bandy represented the tenant, Canyon Midstream Partners during lease negotiations, while Debbie Wilson of CBRE represented the landlord, Crescent HC Investors Inc . Bandy tells GlobeSt.com: “The company moved from 3 Allen Center to 4 Houston Center building (from west side to east side of downtown). This group did expand slightly from 7,000 to 12,000 square feet, but moved for better economics into a B+ building from an A building in an example of tenants fleeing to value or cost-saving options when they can, even in the CBD.”