Houston-based Trione & Gordon LLP represented Allstate in the lease expansion. Drew Lewis of Houston's NAI Partners Commercial negotiated on behalf of the building owner, Westminster 1500 City West LP.
The 1500 City West is a 10-story, 20-year-old building that was renovated in 1994. The building has 191,167 sf. It is 78% occupied, with the Northbrook, IL-based Allstate and GE Capital Loan Services as the lead tenants. The quoted rate ranges from $19 per sf to $20 per sf.
The building prominently with the 68 other class A and B buildings totaling nearly 13 1/2 million sf in the Westchase submarket. According to Trione & Gordon's second quarter report, the average rent for class A buildings in the submarket ranges from $20 per sf to $25 per sf and class B goes from $10 per sf to $22.53 per sf.
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