Jerald King and Derek Beck, a team with the Navisys Group in Houston, handled lease negotiations for the building owners, McCord Development of Houston and AEW Capital Management LP of Boston. King tells GlobeSt.com that the law firm, planning a Feb. 1 move, signed a six-year lease for the 595,000-sf building, which is now 78% occupied. The quoted rate is $18 per sf to $20 per sf.
King says activity seems to be picking up in the city's office market, but it's still very much a tenants' market despite the uptick. He says rates remain competitive and concessions with free rent continue to prevail.
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