HOUSTON-Growth and efficiency were the catalysts behind a long-term lease for 60,000 sf of class A office in a renewal and expansion for Simmons & Co. International at Bank of America Center. The Downtown lease nearly doubles the investment banking firm’s size.

Simmons, which began its Bank of America Center tenure in 1984 on one floor, currently has 32,000 on four floors in the eight-story penthouse bank of 700 Louisiana St. Louis Cushman, vice chairman of Cushman & Wakefield Inc., says the set-up wasn’t particularly efficient. “That, combined with the company’s need to expand, meant they needed to relocate,” the tenant rep says.

Cushman says Simmons looked at other buildings in the CBD for possible relocation, but ended up staying put after ironing out a plan to change floors. “Ultimately, given their longstanding presence at the Bank of America Center, that was always their first preference,” he says. In October, the firm will move to floors 18 and 19, which have 30,000-sf floor plates. Cushman says the floor plates offer everything that’s necessary, including a cushion for future growth.

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