ABB is a business-to-business supplier in power and automation technologies to utility and industry customers, including the oil and gas industry, for performance improvement and lower environmental impact. ABB has 160,000 employees in more than 100 countries. In Sugar Land, ABB Automation has renewed a 52,678-sf lease and added 42,035 sf.
Steve Rocher and Mark Preston, both of Grubb & Ellis Co.'s Houston office, represented ABB Lummus. Mike Boehler of the Staubach Co. handled talks for building owner, CC Fortune. The property is located in southwest Houston in the Westchase submarket, one of the city's strongest office submarkets. According to Grubb & Ellis' most recent research, the submarket has about 8.8 million sf and a 20.1% vacancy rate. Class A lease rates in this submarket average $23.55 per sf while class B averages $17.79 per sf. The submarket also currently has about 174,000 sf under construction.
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