Southwest Bank of Texas now occupies 174,378 sf of the 567,395-sf, 28-story building, bought 10 months ago by the Fort Worth-based Crescent Real Estate Equities Co. Bob Boykin, Crescent's vice president of leasing and marketing in Houston, tells GlobeSt.com that the bank signed a medium-term lease with an expiration that coincides with its master lease with owner of record, Crescent Five Post Oak Park LP. Southwest Bank's team consisted of Anthony Fritsche, Brandi Gawlikowski and David Anderson, all in the Houston office for Dallas-headquartered Trammell Crow Co.
Also settling into a new office is the investment banking firm of Richardson & Barr Ltd. William A. Wolff in Equis Corp.'s Houston office negotiated the tenant's terms for the 5,127-sf lease. The firm relocated from the River Oaks Bank & Trust building at 2001 Kirby, about five miles to the west but still part of the Galleria submarket.
Boykin says both tenants shopped the market before signing with Crescent to take occupancy to 88%, an increase of 6% since the REIT bought the office property. The building's quoted rate is $21 per sf.
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