Lockheed Martin, Wyle Labs JV Fills Clear Lake I

Lockheed took 33,509 sf for 10 years in Clear Lake I at 1300 Hercules Dr. so it could be close to Wyle, which is its joint venture teammate on the NASA contract, Michael Batts of McCord Development Co. in Houston tells GlobeSt.com. Meanwhile, Wyle of El Segundo, CA, expanded and took over the 6,618-sf balance at Clear Lake I to go along with its full building lease at Clear Lake II at 1290 Hercules Dr. The end result is Wyle now occupies 72,190 sf. The buildings' quoted rent was $16 per sf.

As a result of a joint venture with Wyle, the Bethesda, MD-headquartered Lockheed Martin relocated employees from another office building in the Clear Lake area, says Batts, who represented the building owner, Property Texas SC One Corp. Derrell Curry of CB Richard Ellis Inc.'s Houston office represented both tenants.