David Bale with the Staubach Co. has represented FuelQuest in the sublease transaction. RSCPF 1201 Louisiana Place is the owner of the 846,814-sf building, which carries advertised lease rates of $23.50 per sf. Constructed in 1971, the class-B building has undergone several renovations.
Keith Lloyd of Grubb & Ellis Co. has represented Convergys in the deal and tells GlobeSt.com that sublease activity in the CBD is as brisk as always. Lloyd says the quick movement of companies and their business plans in trying to respond to the market often require a speedy turnaround on office space. Lloyd says subleased space is invariably discounted when compared to regular lease space, but depending on the market, tenants may break even in their sublease agreements.
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