The transaction represents a slight expansion of 600 sf for the company, which has been the 11011 Richmond Ave. building several years, according to its broker, Andre Granello of NAI Houston. "We looked at the market, but Weeks had made a home there and had always liked Granite Properties Inc. as an owner," he says. The 166,346 sf Columbia Centre, built in 1983, is 90% occupied.
Granello tells GlobeSt.com that the Dallas-based owner provided "pretty good terms" for the renewal rate, being flexible on the $19.50 per sf quote. "The space was in good condition so tenant improvements weren't substantial," he says.
Weeks Marine has its construction division in the Houston office. It is responsible for marine demolition and harbor clean-up as well as developing piers, wharves and bulk heads, ship mooring systems and off-shore platforms.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.