Lee Moreland, vice president and regional manager for CMD Realty Investors, tells GlobeSt.com that CBM Engineers Inc. assisted with the engineering design for the building when it was constructed in the early 1980s and has been on the tenant roster since it delivered. He says the firm renewed for another three years.
According to Moreland, the engineering firm wasn't looking to change addresses. One reason, he says, is because CMD has been flexible through the years to accommodate the firm's office expansions and contractions, with the newest pact representing a renewal for the same amount of office space.
Louis Crapitto, John Pruitt and Michelle Wogan, all in the Houston office of CB Richard Ellis Inc., assisted Moreland in negotiating the lease for the building owner, Chicago-based CMD Realty Investors.
The 253,135-sf, 15-story, class B office building is located at intersection of Loop 610 and San Felipe Drive. It is 60% occupied and has an asking rate of $16 per sf. Recently, one of the building's largest tenants relocated to a different Houston submarket and left CMD with space to backfill, Moreland says of the low occupancy rate. He says there are several deals pending to fill part of the space.
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