Bruce Thomas of Houston-based Yancey-Hausman tells GlobeSt.com that the ongoing relationship between the two cornered the deal without competitive bidding. Yancey-Hausman handles other Goddard-owned buildings in Houston.
Houston's PM Realty Group previously held the assignment. Representatives from PM Realty were not available for comment by press time.
The Park Row building is a 70%-leased, class B asset. JNS Consulting Engineers Inc. and the law firm of Dore and Associates are the lead tenants.
Thomas says the leasing strategy will be to open an on-site management office plus do some key refurbishments. He says the 20-year-old building's first floor is done, but upgrades are needed on the second and third floors. Thomas says they also are toying with landscape changes and reconfiguring an empty 18,250 sf.
Thomas has started talking to prospects to fill the empty offices, but a signing isn't scheduled for anytime soon. Based on his insight, the most likely candidates fall into the 2,000-sf to 3,000-sf category and already office in the Park 10 submarket.
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