"We normally do all our own leasing, but what's critical is that you have to have someone on the ground who is known in the marketplace and trusted by the community," explains John Sischo, executive vice president and director for Thomas Properties. "Chip, by far, offers all of that to us." The Los Angeles-based investment group intended to lease the class A package in house when it bought the portfolio last summer from Equity Office Property Trust of Chicago.

Sischo tells GlobeSt.com that the thinking changed after discussions with Colvill, who owns and operates an owner's representative leasing firm dedicated to tenant retention. He says Colvill, whom he had interviewed with the idea of hiring him for the in-house effort, is responsible for all leasing activities, including creating and maintaining necessary documentation, working with existing tenants' renewal and expansion requests and forging new tenant relationships. "He does a lot of things for us that we'd normally do in house," Sischo adds.

Thomas Properties' plan for the portfolio also involves a $30-million renovation. "We've started the upgrades, though most of the work has been back of the house," Sischo says.

In another recent turn of events, Sischo says a large lease just been negotiated for the 959,446-sf San Felipe Plaza at 5847 San Felipe Blvd. Likewise, additional tenants are in hand for all four properties.

The portfolio also includes a 574,216-sf office building at 2500 City West; Brookhollow Central I, II and III, totaling 797,971 sf at the intersection of Loop 610 and US Highway 290; and the 194,801-sf Intercontinental Center at 15600 JFK Blvd.