CLEAR LAKE, TX-Chicago Title Corp., in a different move from past leasing practices, has taken down 4,000 sf in a five-year lease at the 12,049-sf H-E-B Clear Lake Shopping Plaza on the metro area's southwest side. The transaction represents an expansion in the area for the company.
Located at 1000 Bay Area Blvd. near El Camino Real, the center is shadow-anchored by a 55,513-sf H-E-B grocery store. The going rate for space is $20 per sf to $24 per sf, triple net.
"They're used to being in office buildings and now they're going to try a retail location," explains Shawn Ackerman of Henry S. Miller Commercial's Houston office who represented the building owner, SW Clear Lake LP of Houston. He tells GlobeSt.com that Chicago Title executives took the retail space because they liked the area, but couldn't find the appropriate office space. "This is a very high-profile location for them, kind of like Main and Main," he says, adding the space formerly was used as a Mattress Firm store. The deal boosts occupancy to 94% in the nine-year-old center.
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