Smith Seckman Reid Inc. is two years into a long-term lease for 10205 Westheimer Rd., Jim Bailey in the Houston office of Cushman & Wakefield of Texas Inc. tells GlobeSt.com. The firm also committed for the long term to the extra class A space, says Bailey, the tenant's representative.
The 11-story, 261,477-sf office building is owned by a joint venture, CC Fortune Venture LLC and Sunrich Investments LP, which was represented at the bargaining table by Katherine Richter in the Houston office of Richfield Investment Corp.
The Westchase submarket has about 2.5 million vacant in its 10.3-million-sf inventory, representing a 24% vacancy rate, according to recent statistics released by Grubb & Ellis Co.'s Houston office. The going rent in class A buildings is $20.94 per sf. The West 8 Tower is quoting $19 per sf to $23 per sf.
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