The firm, in place since the early 1990s, made another long-term commitment for 675 Bering Dr., Dan F. Boyles Jr. with NAI Partners Commercial in Houston tells GlobeSt.com. He says the lease was negotiated a year early, with talks getting underway about six months ago. First Investors, now occupying 12,000 sf, has up to 12 months to move into the 5,028 sf of extra space in the 135,643-sf office building.
Boyles, the tenant's broker, says other options were checked out in the submarket, but the decision to stay was sealed by the full floor availability. And, he adds, the hassle of moving also weighed heavily on the final decision by First Investors, a buyer and servicing agent of sub-prime loans for more than 1,600 vehicle dealerships in 28 states.
David Carter with Yancey-Hausman in Houston represented the building owner, 675 Bering LP. The building's quoted rate is $17.50 per sf.
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