Parkview I is part of the 5.2-million sf, 50-building Koll Bren Schreiber Realty Advisors Houston Portfolio. Doug Little of Houston's PM Realty Group represented the building owner in the lease negotiations. He tells GlobeSt.com that the tenant has been in the building since 1994.
Little says the early 1980s-era building is extremely well maintained. Citicorp uses the building for an in-bound call center to service credit card accounts. The group is part of the New York City-based Citigroup, the largest provider of credit cards in North America with more than 100 million accounts.
The Katy Freeway submarket contains about 14 million sf of office inventory. First quarter reports show a 13.9% vacancy in the submarket, with an average direct gross lease rate of $19 per sf. The submarket, which has 132,500 sf, shouldered a negative absorption of 110,006 sf in the first quarter.
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