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HOUSTON-Litton Loan Servicing LP has inked a 10-year lease, valued at $21 million, for 112,900 sf on floors one through six of Loop Central Three at 4828 Loop Central Dr. in the Galleria-West Loop submarket.

Rosemary Kogler, managing director, and Yvonne Conklin, leasing manager of Kennedy-Wilson’s Houston office represented building owner, W9/L WS II Real Estate LP in the negotiations and Marshall Clinkscales of MSC Properties Inc. acted on Litton’s behalf. The three-building Loop Central totals 578,000 sf. Litton will move about 500 employees into the office in November.

Kogler tells GlobeSt.com that the efficient layout of the building, nice executive offices and computer facilities to house Litton’s proprietary computer systems were the big draws. Litton, a servicing company for credit-sensitive mortgage assets, is moving into a portion of the large block of space vacated by Jacobs Engineering, which also includes Loop Central Two. Still, says the leasing team, the quick lease-up is a good sign for the submarket.

According to Kogler, Litton had been weighing a suburban build-to-suit instead of leasing. The new tenant most likely won’t impact the submarket’s absorption since it is relocating from within the same area. But, Kogler points out, it’s a winning deal since the Galleria-West Loop held on to Litton. The submarket, one of the city’s softest, carried a 22.6% vacancy rate in the second quarter.

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