The building's successful leasing goes beyond the fact that it's new generation, efficient, environmentally friendly and developed by a real estate powerhouse partnership. It's leasing velocity centers on rental rates that were lowered to meet the market; an anchor tenant, Calpine Corp., "dissing" rumors that it's putting 100,000 sf up for sublease; and hooking a major player from outside the CBD lines.

In the newest signing, Cheniere Energy Inc. took 16,157 sf under a 10-year lease. The firm is relocating from about 7,000 sf at Three Allen Center, also in the CBD.

John Richardson of Moody Rambin Interests in the city, the tenant's broker, tells GlobeSt.com that it's worked out to be cheaper to move to Calpine Center than to relocate within the Allen Center complex. He says Cheniere chose Calpine for the ease of the negotiating process, floor plate efficiency, building quality and location ... at "less than the rate quoted two years ago for similar quality space. Calpine is perfect for the image-conscience company that is also looking for efficiency." Hellmuth, Obata & Kassabaum's local team designed Calpine Center.

According to industry sources, 10-year leases are priced at about $17 per sf, which is about $4 per sf to $5 per sf less than a few years ago.

Energy firm Calpine Corp. has pulled the plug on a rumor that it would be bringing 100,000 sf of its 249,391-sf commitment to the sublease market. Calpine's broker, Joe Peddie with the local office of Cushman & Wakefield of Texas Inc., says the firm will put only one floor, the 29th with 27,764 sf, up for sublease. Floors 27 and 28 are nearing completion and Calpine clearly is making plans to occupy in the near future. Peddie says floors 10 through 14 also will be finished out and used by Calpine, but build-out is far from done. "Things have stabilized for Calpine," he says of the energy firm's business.

To recap previously announced releases, Burlington Resources will turn on lights in 249,391 sf; the law firm of Jones, Day, Reavis & Pogue is taking 54,600 sf or the top two floors; and Hines' southwest regional development office will occupy 20,000 sf. Burlington Resources, an independent oil and gas firm, will consolidate offices and relocate from the Galleria and Greenspoint submarkets while the law firm is coming in from the JPMorgan Chase Building, a Hines-managed asset.

Laura Van Ness, business development director for Central Houston Inc., says Burlington Resources will put about 450 employees into the CBD's newest office building. She says employees are enthusiastic about the move, a fervor she hopes will lure other companies into relocating to the city's beleaguered CBD.

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