[ad_1]
8 West Centre will function the tenant’s new headquarters. Picture courtesy of CommercialEdge
Audubon Engineering Co. has signed a 71,879-square-foot workplace lease at 8 West Centre, a Class A, 227,045-square-foot workplace constructing in Houston. Newmark labored on behalf of the tenant, whereas CBRE negotiated on behalf of the owner, Tel Aviv-based Azrieli Group.
The engineering, procurement and building providers firm will relocate to and use the brand new area as its main company workplace. Azrieli Group picked up the asset in 2014 for $76 million from PGIM Actual Property, in keeping with CommercialEdge knowledge.
READ ALSO: Distant Work Shapes Workplace Sector
CBRE Govt Vice Presidents Russell Hodges and Bubba Harkins labored on behalf of the owner. Newmark’s Vice Chairman Reggie Beavan, Managing Director Joshua Brown, along with Affiliate Director Audrey Selber represented the tenant.
The workplace constructing is at 3505 W. Sam Houston Parkway N. and consists of 1,614 sq. ft of retail area, 59,000-square-foot flooring plates, 4 passenger elevators and 1027 automobile parking spots, CommercialEdge knowledge exhibits. The four-story constructing consists of facilities corresponding to a health heart, floor-to-ceiling home windows, an outside courtyard and a full-service cafe. Different tenants on the property embody Helix Power Options Group, Inc. and Cameron Worldwide, in keeping with the identical knowledge supplier.
Inbuilt 2013, the 9-acre property is near Interstate 10 and to the Houston Power Hall, 17 miles from downtown Houston and from Sugar Land, Texas, 24 miles from George Bush Intercontinental Airport and inside 33 miles of The Woodlands, Texas.
Houston emptiness among the many highest
As of September, Houston’s workplace emptiness price reached 24.9 %, a large 710-basis-point distinction from the nationwide common of 17.8 %, in keeping with the newest CommercialEdge workplace report. The metro had one of many highest vacancies within the nation, however the common full-service equal itemizing price rose 2.8 % year-over-year, to $30.66, the identical supply exhibits.
Current workplace leases within the metro included NRG Power’s 245,000-square-foot dedication at Brookfield Properties’ 51-story workplace tower in downtown Houston. Moreover, Lime Rock Administration signed a 57,000-square-foot renewal at Heritage Plaza earlier this 12 months. AEW Capital Administration is a majority proprietor in that constructing, whereas Brookfield Properties acts as supervisor and leasing agent.
[ad_2]
Source link
