"SEIU asked where they could do the most favorable economic deal and there's a plethora of class B space in the Galleria," says Jared Andresen, a vice president with Transwestern Commercial Services Inc. who represented the organization in the lease along with Paul Wittorf.
Andresen tells GlobeSt.com that the Chicago-based union was faced with 26 qualified options when it first started looking for space. The 33,000-sf building at 4299 San Felipe was attractive to SEIU because of Loop 610 accessibility and the ability to get a sign on the structure. The 11-year deal includes one year of free rent over the lease term, according to Andresen.
The three-story building leases for $17 per sf, but Andresen says SEIU paid less than that. With the new union lease, the 1980s-era building is 100% occupied.
Building owner, Santa Rosa, CA-based Morrison Karsten, was represented Jack Berry of local brokerage firm Berry Meredith and Co. "The landlord had a hands-on approach and that made it easier," Andresen says.
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