X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Campbell, George & Strong, a Houston-based law firm, has leased 6,123 sf at the Chase Bank building in the Galleria/River Oaks submarket.

The firm is relocating from 5252 Westchester. The law firm has offices in San Francisco and Washington, DC. It specializes in representing clients with environmental liabilities.

Steve Rocher and Kristen Porter, both of Grubb & Ellis Co.’s Houston office, represented the building owner, BMS Management. Ron McWherter of the Houston office for CB Richard Ellis Inc. represented the law firm. In another recent lease, accountant Dana Kirk signed for a 4,091-sf office.

The Chase Bank building is a 13-floor, 207,534-sf design. Constructed in 1984, the building is about 87% occupied, bearing a rental rate of about $20 per sf.

The Chase Bank building is part of a 28-million-sf office inventory in the submarket, according to Grubb & Ellis. The submarket is second in size to the CBD. The area commands class A lease rates of $22.52 per sf and class B rates of $18.53 per sf.

The Galleria has been struggling as a submarket, posting a negative absorption of 374,714 sf in the first quarter. And once again, its ranking fell right behind the CBD.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.