Ron Smulcer, chief of operations for First Continental Mortgage, tells GlobeSt.com that the Town & Country address, where it's spent the last decade, can't accommodate the firm's growth. The Westchase building offered the chance to get the staff on one floor. The tenant's representative, Tommy Alexander, first vice president in the Houston office of CB Richard Ellis Inc., says the other selling point is that street-level office in the 148,000-sf, six-story structure was sitting in slab condition and able to be customized for the mortgage company.
Smulcer says the building owner's team, Hines, played aggressively to beat out the other competitor vying for the win. Paula Bruns with Hines represented the building owner, Reifpark Corp., which now has a 93% occupancy in the structure. Class A office space in Westchase is bringing $21.17 per sf on the average.
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