The Boca Raton, FL-based Watershed reworked its five-year lease after spending about a year at 20 Professional Park Dr. in Webster near Clear Lake and quickly realizing the need for more room. Coy Davidson in the Houston office of Colliers International tells GlobeSt.com that the building was sold earlier this year for $3 million to a Boca Raton-based private investor. He and Colliers' David Butler brokered both sides of the new lease.
Davidson says the $1.5-million expansion, which kicks off in Q1, will be completed by the third quarter. The building sits on a 34,848-sf tract, but the owner has contracted to buy adjacent land for use as a parking lot, according to Davidson.
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