Steve Rocher and Kristen Porter, a Houston team for Grubb & Ellis Co., handled negotiations on behalf of the building owner, BMS Management. Millennium Tower is a 365,955-sf office tower that's currently 77% occupied.
Novus Oil & Gas Texas took 3,734 sf. Lucian Bukowski of Dallas-based Staubach Co.'s Houston office brokered the terms for Novus. Moex Texas LLC is absorbing 2,167 sf in a pact structured on its behalf by Dina Gasper of Houston's Trione & Gordon ONCOR International.
The Westchase submarket has in excess of nine million sf of office inventory, with a 26.4% vacancy. The submarket posted a negative absorption of 108,045 sf in the first quarter. Class A rent runs an average of $22.13 per sf while class B brings in $17.39 per sf on the average.
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