Leasing

ENGIE North America Inc. completed a lease for approximately 110,000 square feet at 1360 Post Oak Blvd. in Houston’s Four Oaks Place, occupying floors four through nine beginning December 2019.

Both Nalbandian and Swidler come to Lee & Associates from NAI CIR, a brokerage firm founded by Nalbandian in 1970. While at NAI CIR, Nalbandian was a mentor to John Van Buskirk, SIOR, the co-founder of Lee & Associates of eastern Pennsylvania.

Among the new transactions was the new lease with Hazen and Sawyer, D.P.C., for 8,635 square feet, as well as a renewal and expansion for Barbara J. Prasse, P.A. for 2,416 square feet and a renewal with American Mortgage Services for 2,236 square feet.

“Despite talk of a deconversion slowdown, and Chicago’s proposed ordinance to increase the required approval rate to prevent ‘hostile’ deconversions, we believe the trend will continue as long as investor appetite for multifamily remains strong and people prefer to live in apartments,” Stengle says.

The deal, reported by Cushman & Wakefield, will allow Marble of the World, a division of The Stone Collection, LLC, to have the new Broward County facility join the firm’s American Society of Interior Designers award-winning showrooms in Arizona, Texas, Utah and Florida.

Rents in the San Gabriel Valley are up nearly 17% year-over-year to $0.84 per square foot.

Good Sportsman Marketing has leased the entire space in Building A of Parc SouthWest or approximately 180,497 square feet, and Building B will be fully occupied by three tenants.

The lease extension transaction comes after Denholtz Properties completed last year a $500,000 capital improvement project at the two-story, 54,599-square-foot Class-A office building.