Jon Silberman and Cathleen Morgan, both of NAI Partners Commercial in Houston, represented the tenant in the lease transaction, while Steve Hess of Trione & Gordon ONCOR International acted on behalf of PGS Americas Inc. Joel Dalak of PM Realty's Houston team handled talks for the building owner, TR Richmond Avenue Corp. 10700 Richmond is a 20-year-old, 149,000-sf office building.
Silberman tells GlobeSt.com that PGS Americas was going through a downsizing and wanted to shed some excess space. Silberman specializes in tenant representation. He says that although business has slowed down some with the current economic downturn, "people can't ignore their lease expiration dates." Silberman does expect a halt to new construction in office product over the next year, but expects leasing and absorption to remain steady.
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