Rosemary Kogler and Brian McMackin, both in the Houston office of Lincoln Property Co., represent the building owner, W9/LWSII Real Estate LP, an affiliate of Dallas-based Lincoln Property Co. and Whitehall Funds, the real estate arm of Goldman Sachs.
Kogler tells GlobeSt.com that the property and casualty wholesaler has been a tenant since March 1985. Internal growth, she says, sparked the expansion to the long-term lease.
The 87%-leased Loop Central Three is a 10-story, 197,643-sf office building at the intersection of West Loop 610 and the Southwest Freeway. The asking rate is $18 per sf.
The Southwest Freeway submarket has about 11.2 million sf in 89 office buildings. At the end of Q4 2002, the submarket was shouldering the city's highest office vacancy, 19.4%. Despite that, the submarket ended the year with a positive absorption of 227,254 sf. The average class A rate is $17.88 per sf while class B is bringing $16.25 per sf.
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