Local Owner Outsources 459,937-SF Office Portfolio for First Time

"Our job will be to focus on transactions of 10,000 sf and above," Mark Preston, senior vice president of the locally based Moody Rambin, tells GlobeSt.com. He says the objective is to boost occupancy in the Hartman-owned properties to 85% and above. "That's the near-term goal, that's Hartman's mission this year. The long-term goal is to create a billion dollars worth of value in their REIT portfolio by 2010. And, we're working toward that as well."

A Hartman contact says that other companies had been considered for the leasing program, but a so-called "short list" had never been developed. "Hartman zeroed in on Moody because of the company's integrity and reputation in the area," the spokesman says.

The local owner's leasing staff will remain intact during the contract, which goes into effect April 1. "We're augmenting Hartman's in-house operation without having to change or remove the personnel or culture of the in-house folks," Preston says. "We've had success with this type of model with other clients in the past."

The five properties are the 120,651-sf Gulf Plaza at 10610 Barkers Point Lane; 182,506-sf Westheimer Central Plaza at 11200 Westheimer Lane; 110,030-sf 3100 Timmons Lane; and the Preserve at North Loop, a 27,765-sf building at 2000 N. Loop Freeway West and its 29,075-sf neighbor.