The mortgage information company will move to 9700 Bissonnet St. at the beginning of March. The company is relocating from Kirby Drive. Mike Boehler and Lucian Bukowski with Dallas-based Staubach Co.'s Houston team represented Stewart Mortgage Information.
The quoted rate for space in the 535,000-sf Southwest Corporate Center ranges from $14 per sf to $16 per sf. According to Steve Bryant of Moody Rambin Interests in Houston, the inbound tenant signed a deal in the middle of the quoted range, with some finish-out added to the costs. Bryant, who represented property owner, Young Woo & Associates of New York City, adds tenant-improvement allowances average $25 per sf.
About five years ago, Southwest Corporate Center, built in 1975 as Westwood Mall, was converted to class A office space. "The current owners first bought the mall, then converted it, then bought the Dillard's store, and are working on that now," Bryant tells GlobeSt.com.
Bryant says the owners, who began construction during late 2005, are investing $4 million into renovating the 150,000-sf former Dillard's store. "The roof is off and the walls are down. When completed, it'll be a virtually brand-new building," he says. The added office space will be ready to market in March. While there is nothing signed as yet, Bryant says the space is generating a great deal of interest.
Meanwhile, the remaining 385,000 sf of open space is close to being stabilized, with just 23,000 sf open. Today, its lead tenants are United Healthcare Insurance Co., Enterprise Rent-A-Car Co., Global One Sources Group LLC and Corinthian College.
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