Host Provider Corners 64,455 SF in Two Locations

HOUSTON-In a two-fold deal, VeriCenter has extended a 40,855-sf lease at Eldridge Place in West Houston, almost two years early, and taken an additional 23,600 sf at Greenspoint Technology Center on the city's North Side.

The locally headquartered VeriCenter was represented by Drew Morris of Studley. Eldridge Place's owner, Koll Ben Schreiber Realty Advisors of Newport Beach, CA, was represented by Wade Bowlin and Doug Little with PM Realty Group of Houston. The new lease will give VeriCenter about nine more years in the class A building.

"This was a big deal," Drew Morris, associate director for Studley, tells GlobeSt.com. "They extended the lease early since they wanted to stabilize their tenancy in the building while still taking advantage of current market conditions." Finish-out has just wrapped up on the office space, which includes a 15,000-sf, raised-floor data center.

Morris says Eldridge Place is 90% leased, with a quoted rate of $23.75 per sf. The two-building complex, totaling 519,000 sf, sits in the 700 block of North Freeway. VeriCenter took part of the 14-story, 279,000-sf, building. The complex, renovated three years ago, was developed in 1986 by Bolin Development.

VeriCenter, an enterprise-managed hosting provider, also inked a seven-year lease for 23,600 sf of class B space in Greenspoint Technology Center at 12025 North Freeway. Andy Spence, Angus Hughes and Beau Kaleel with Cushman & Wakefield of Texas Inc.'s local office negotiated for the San Diego-based building owner, Yale Properties USA.

Morris says VeriCenter was drawn to a fully equipped building with "tons of power and a cable rake system raised above the floor." Built in 1989 by Trammell Crow Co., the 300,705-sf structure is 80% occupied.

VeriCenter is in a growth mode, recently acquiring Sprint data centers in Dallas, Denver, Atlanta and Boston. The added space in Houston occurred "at an opportune time for the company," according to Studley's press release.