The firm's Nelson Udstuen and Scot Ison have been assigned to the building. Until now, the building owner, TPMC Realty Corp., had an in-house representative steering lease-up. The assignment comes as TPMC deals with two empty floors on the seventh and eighth levels, 3,500 sf soon to be vacated on the ground level and 3,000 sf of retail space in the tunnel. And, the owner is awaiting word from its largest tenant, Shell Corp., about its two-floor lease, which is up for renewal in 2004. It's no secret in town that Shell is shopping for new space.
Ison tells GlobeSt.com that the two empty floors previously were used as overflow space for Houston-based law firm, Baker Botts, which has its main office right next door in One Shell Plaza at 910 Louisiana St. The office space has been empty for two years, just like the retail space. The 3,500 sf on the ground floor will be emptied at the beginning of November.
Despite the hurdles, Ison says he is optimistic about the prospect of working an assignment "in the heart of the CBD." The building sits at the intersection of Rusk and Louisiana streets. The team is quoting rates from $18 per sf to $19 per sf gross, with the opportunity for naming rights. That perk, Ison says, generally isn't available to tenants taking less than 25,000 sf.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
