Corbett Personnel Services leased 3,821 sf at 3100 S. Gessner, an eight-story, class B suburban office building totaling 135,302 sf. Steve Rocher and Hubert Wen, a Grubb & Ellis Co. team in Houston, negotiated the pact for the building owner, BMS Management. Randy Wilhelm of NAI Partners Commercial in Houston represented the tenant.
The South Gessner building, constructed in 1981, is 58% occupied. Its office space is quoted at $14.50 per sf annually.
Moody & Overstreet signed for 3,534 sf at Millennium Tower, a 365,955-sf office property at 10375 Richmond Ave. Rocher flew solo in representing the building owner and the tenant. The 20-year-old office building is 78% leased, bearing a quoted rate of $20.50 per sf annually.
Both office buildings are located in the Westchase submarket. According to Grubb & Ellis' second-quarter report, the Westchase submarket has an office inventory of 9.8 million sf and a current vacancy of 24.4% or 2.4 million sf. In the second quarter, the submarket absorbed 67,138 sf with a year-to-date total of 100,789 sf. Class A buildings in the market lease for an average of $21.70 per sf while class B goes for about $17.40 per sf.
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