Total Premier Services, a locally based worldwide distributor of oilfield tubular goods, will relocate its corporate headquarters to 654 N. Sam Houston Parkway from 2211 Norfolk in the Greenway Plaza submarket. The firm will take over space on the third floor in March, says Bill Spell of Oxford Partners, formerly Vanguard Commercial Group. He represented Total Premier Services in lease negotiations while Wanda Wilson and Marci Phillips with PM Realty Group structured terms for the building owner, KBS Realty Advisors of Newport Beach, CA.
Spell tells GlobeSt.com that Total Premier Services' lease wasn't close to its expiration, but decided to move to get closer to employees' residences in the northwest sector. At first, the firm discussed leasing 10,642 sf, but decided to add 1,317 sf. "They really liked the economics of the deal and thought it was a good location close to the Hardy Tollroad and the airport," Spell says. "It's just right where they want to be."
Bridgewood I, built in the 1980s and renovated in 2002, is now 53% leased. It leases for $14 per sf.
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