Ron McWherter of the Houston office of CB Richard Ellisrepresented GEMSA. Drew Lewis of NAI Partners Commercial handledtalks for the building owner, Griffin/Juban.
McWherter tells GlobeSt.com that G.E. Capital Real Estate movedfrom a 25,000-sf office at 363 North Belt while L.J. Melody justtransferred certain personnel to the new location. McWherter saysthe location results from a mutual decision of employees andexecutives.
On the Houston commercial real estate market, McWherter says,"Post 9/11 and a continued national recession has slowed growthfrom the past four to five years and the Enron debacle has causedpeople to think a major market shift is imminent. I think we willhave a more tenant driven market, but our vacancy will not reachthe level of the mid-80s downturn."
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