US Risk has been a tenant since February 2001, Michael Van, principal with Houston-based Turner Adreac tells GlobeSt.com. Turner Adreac developed the six-story, 150,593-sf building in 1999. Van says the building is 93% occupied. Its going rates range from $20 per sf to $21 per sf annually.
Van says US Risk contemplated from the onset of its initial signing that it would need expansion space. Thus, the firm is merely exercising options put in place in 2001.
Van negotiated the expansion lease while the tenant used John Parsley of the Houston office of Colliers International at the bargaining table. US Risk insurance coverage includes property, pollution, special events and inland marine.
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