An update will follow, however the developers stated in a press release that the transaction puts Houston Pavilions well ahead of schedule in terms of lease-up. "The leasing of Houston Pavilions was proceeding along nicely," said said Geoff Jones, co-development and principal of Houston Pavilions in a prepared statement. "In fact, we were outpacing our projections for 2009. With the signing of the NRG lease, the occupancy of the project has hit roughly 80 percent, a level we hadn't expected to achieve until 2010. We went from having a good year to having a great one."
The energy company joins tenant Sheehy, Serpe & Ware PC, which signed a lease for just over 28,000 square feet at the beginning of this year.
Eric Anderson and Greg Tilton of Transwestern represented the owner, Houston Pavilions LP. NRG Texas was represented by George "Trey" Strake, III and Christopher Oliver with Cushman & Wakefield of Texas, Inc.
The $200 million mixed-use project is bordered by Dallas, Polk, Main and Caroline Streets. Houston Pavilions broke ground in 2006. In addition to Pavilions Tower, Houston Pavilions has retail and restaurant space. Retail anchors are House of Blues, XXI Forever, Lucky Strike Lanes and Books-A-Million.
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