Coy D. Davidson with Colliers International's Houston office represented the law firm, a tenant for about five years in the 264,885-sf office building. He adds his client looked at the available sublease space in the CBD, but "after a thorough evaluation determined renewing was their best option."
According to research recently published by Trione & Gordon in Houston, there is about 1.6 million sf of sublease space available in the downtown. At the end of the second quarter, the available direct space totals seven million sf for a vacancy of about 17% in the 41.4-million-sf office inventory.
John Spafford of Houston-based PM Realty Group represented the building owner, Best Property Fund LP, in the negotiations. The 72%-leased high-rise has an asking rate of $17 per sf.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
