Jon Silberman of the Houston office of NAI Partners represented the tenant. Janet Oliver was the in-house representative for the building owner. The brokers refused to release terms of the deal.
The 87,000-sf, 29-year-old building has been owned by Canadian-based Unilev Management Corp. since 1995, according to Harris County records. Average lease rates in the Galleria as of the third quarter are $20.21 per sf. The submarket has a 15% vacancy rate.
Vaalco is an independent energy company whose primary business consists of the acquisition, exploration, development and production of crude oil and natural gas.
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