The principals involved with the transaction are mum about thelease's value and terms, but the 21-story class A building is beingmarketed for $28 per sf to $30 per sf, gross. "The landlord andtenants made considerable investments in doing this leasetransaction," says Michelle Wogan, senior vice president withTranswestern Houston, who represented Aslan Realty Partners IIILLC, a fund of Chicago-based Transwestern Investment Co.


Fogarty Klein Monroe's lease takes the building to 95%occupancy. The firm will move from 7155 Old Katy Rd. to spacevacated about two years ago by Continental Assurance Co. ofChicago. Wogan, who partnered with Transwestern associate MonteCalvert, says the largest pocket of space remaining in the buildingis 10,000 sf on the fourth floor--and negotiations are under wayfor at least part of it.


Wogan tells that not only is it "a pretty stabilizedasset," but it was fortunate enough to recover quickly fromHurricane Ike. "This is one of the few buildings in the Galleriasubmarket that sustained minimal damage and had power quickly," sheadds.


Page Southerland Page LLC of Austin, TX is designing theagency's new office. Kevin Gardner with CresaPartners LLC inHouston represented the tenant.

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