Purvin & Gertz has been a tenant in the downtown high-rise since the building opened. The firm evaluated three other buildings in its search, according to Kevin Hodges, a senior managing director with Studley who represented the consulting firm. He has represented the firm in Houston for more than 15 years. Allison Knight represented Hines in the transaction.
After extensive negotiations with Hines, JPMorgan Chase Tower was chosen as the most suitable building for its Houston headquarters. Purvin & Gertz chose to stay in its existing location because Hines "made the deal very attractive," Hodges tells GlobeSt. "Cost and efficiency were most important to the firm when making the decision," he adds. "We were fortunate that our expiration date coincide with the decline in rental rates."
Purvin & Gertz will perform some cosmetic improvements to the space as part of the tenant improvement package, Hodges notes. Randall Walker and Cathy Hunter with Kirksey Architecture have been retained to design these improvements.
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