Mike Boehler of Dallas-based Staubach Co.'s Houston office represented the radio station's parent firm, KRBE Co. Doug Little, senior vice president and director of leasing for PM Realty Group in Houston, handled talks for the building owner, 9801 Westheimer Associates LP.
The 202,294-sf Westchase Bank Building is 89% occupied as a result of the pact. Little tells GlobeSt.com that KRBE has been a tenant in the building since 1981.
Little says he sees more tenants negotiating shorter-term leases and staying where they are in order to ride out the recession. "We are feeling the effects of the national economy slowing down," he says. Some sales deals, he adds, have fallen through because lenders are becoming skittish and investors are pulling out. Little says it is a great time to buy, if the buys are in prime Houston locations. "It's a great time to be a buyer," says Little, "if you think the economy will bounce back...which I do.
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