Once Kinder Morgan takes over the additional class A space at 500 Dallas St., it will occupy about 21% of the office building. The just-signed deal takes the 884,422-sf high rise to 88% occupancy.
Aaron Howes and Kyle Kelly with CB Richard Ellis Inc.'s Houston office represented Kinder Morgan, an energy transportation, storage and distribution company. Paul Frazier, vice president of office leasing for Chicago-based Trizec Properties Inc., was the in-house representative structuring the deal.
"This lease ensures that we continue to house our corporate headquarters under one contiguous space and it allows us the flexibility to continue to expand our space as our businesses continues to grow," James E. Street, senior vice president of Kinder Morgan's human resources and administration, says in a press release issued this morning. The dealmakers weren't available by publication time to comment about the deal's in-depth details.
The three-building Allen Center makes up 3.2 million sf of the city's class A inventory, which carries an average lease rate of $21.71 per sf. It is owned, leased and managed by Trizec.
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