Devon Energy Corp. and Thompson & Knight have stripped a combined 60,000 sf from the holding of New York City-based Trizec Properties Inc. "Downtown Houston continues to be in great demand as a place for companies to be. For several years that demand was largely unmet due to the lack of available class A office space in this submarket," Paul Layne, Trizec Properties' senior vice president, said in a prepared statement. "Recent events have created some vacancies, which has created a huge volume of inquiries from companies seeing a rare opportunity to expand or relocate here."

Layne expects leasing activity marketwide to continue at a brisk pace. Ongoing talks for Allen Center, he said, could fill the remaining available space if the leases reach closing tables.

Devon Energy expanded its 192,570-sf lease at Two Allen Center, situated at 1200 Smith St., by 43,960 sf. The nine-floor lease extends for nine years and three months, a Trizec Properties' contact, confirming the 500,000 sf of vacant office space, tells GlobeSt.com. Built in 1978 and renovated in 1992, Two Allen Center totals 994,000 sf. The average lease rate is $18.50 per sf. Kevin Snodgrass of the Houston office of Cushman & Wakefield of Texas Inc. represented Devon in the lease negotiations.

Oklahoma City-based Devon Energy is an oil and gas exploration, production and property acquisitions company. It ranks as one of the nation's Top Five independent oil and gas producers. It also is one of the largest independent processors of natural gas and natural gas liquids in North America.

The Trizec contact says the Texas law firm of Thompson & Knight signed a 15-year lease for 72,000 sf at Three Allen Center, located at 333 Clay St. The firm is relocating into three floors from a 56,000-sf office on two floors at Two Allen Center. Three Allen Center is a 1.2-million-sf, 52-floor office tower, also bringing an average of $18.50 per sf.

Paul Frazier, vice president of leasing, and Steve Lukingbeal, regional counsel, were the in-house representatives for Trizec Properties in the lease negotiations. Howard Rambin of Houston's Moody Rambin Interests represented Thompson & Knight, which has been a tenant in the complex since 1984. A law firm contact tells GlobeSt.com that the firm liked its Allen Center address, but needed more contiguous space for the practice, which has grown considerably in the last three years as a result of new hires and a merger.