HOUSTON-Geo-science data firm TGS-Nopec has renewed and expanded its lease to a total 67,691 square feet at the CityWest building. The company has its worldwide operations in the building, though its financial headquarters is in Oslo.
Michael Anderson with Colvill Office Properties says the building, owned by a joint venture of Thomas Properties Group and the California State Teachers’ Retirement System, is now 92% leased with the new deal. The tenant added another 8,000 square feet to its offices, he says.
“I think we have a very specific market, where some buildings have been able to keep tenants and keep up rates, and others in the same market are struggling. The tenants here are fortunate to have good stable ownership and a quality building,” Anderson says. He represented the venture along with Chip Colvill and Win Haggard Jr. Jon Silberman and Griff Bandy with NAI Houston represented the tenant.
He says he can’t comment on this long-term deal, but says the asking rate in the 578,284-square-foot building is $24 per square foot, net. Other tenants include Cal Dive Marine, Aspen Technology and Maersk.
Anderson tells GlobeSt.com that leasing activity has increased quite a bit in this Westchase submarket. “We represent a little more than seven million square feet across the city, and our portfolio is expanding. It’s a good sign, companies are hiring again,” he says.
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