The radiology association re-upped the class B space on an as-is basis. The association has had its office at 7026 Old Katy Rd. for five years. "This is their administrative office and they'd been there for awhile," says Andre Granello of NAI Houston, who represented the tenant. "We did survey this market, but this proved to be a good building in a good location. They'd made a home there and saw no reason to leave." The 30-year-old radiology association also has locations in Webster, Katy and Texas Medical Center.
The quoted lease per sf on the 1980s-era building is $15 per sf, triple net. "The deal was done fairly close to the number," Granello tells GlobeSt.com. "The ownership had provided us with some more aggressive terms." Local owner Resource Ten Group LP held onto an 81% occupancy in the 278,891-sf building, using an in-house broker to package the deal.
© 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.