Schlumberger Ltd., a provider of services to the oil and gas industry, renewed its 1325 Dairy Ashford Rd. lease, Mark Russell, senior vice president of Studley Houston's office, confirms for GlobeSt.com. But, he's not discussing the length of the new deal. "There was a lot of other real estate we could have considered," the tenant rep says, "but at the end of the day the economics was a factor." Class B space in the submarket generally rents for $16 per sf to $18 per sf net.
The supplier of technology, project management and information solutions initially shared the building with several smaller companies, but later took over the entire structure. Russell says. Building owner Parkway Properties Inc. of Jackson, MS had in-house broker Lisa Skelton negotiate the terms.
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