The Belgium-based firm took 87,980 sf for 10 years in Three Post Oak Central at 1990 Post Oak Blvd. in a near even swap for space from 1177 W. Loop South, Bob Boykin, regional vice president of leasing and marketing for Crescent Real Estate Equities Co. tells GlobeSt.com. Later this year, the tenant will move 2.3 miles from a class B office building along the 610 Loop to the class A property in the inner core of the prestigious Galleria submarket.

Three Post Oak Central is part of a three-building, 1.2-million-sf office project, with an asking rate of $21 per sf. Bill Schneidau, leasing manager, and Boykin represented the building owner, Fort Worth-based Crescent, in the lease negotiations.

According to Boykin, Tractebel's move will result in just a marginal increase in office space from the existing address. He says Tractebel shopped the market extensively within the Galleria area as well as the far west submarket near the Beltway before signing with Crescent.

William P. Utt, president and CEO of Tractebel North America, said in a press release that Three Post Oak Central won the face-off because it had "the space we need to support our growing business activities as well as attractive amenities for our employees and guests." Boykin says the firm was impressed with the on-site daycare, dry cleaners, health club and food service vendors as well as the complex's upscale image and architecture. Harry Holmes of Houston Office Leasing Management Estate Services represented Tractebel.

Tractebel primarily is filling space vacated a few years ago by Morgan Stanley, says Boykin. A few other tenants are being moved within the complex to provide a full six floors for Tractebel, he adds. The lease boosts occupancy to 98.8% at Three Post Oak Central and 92% for the entire complex.