Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-BMS Management has signed two newcomers for Millennium Tower and 3100 S. Gessner in Houston.

Corbett Personnel Services leased 3,821 sf at 3100 S. Gessner, an eight-story, class B suburban office building totaling 135,302 sf. Steve Rocher and Hubert Wen, a Grubb & Ellis Co. team in Houston, negotiated the pact for the building owner, BMS Management. Randy Wilhelm of NAI Partners Commercial in Houston represented the tenant.

The South Gessner building, constructed in 1981, is 58% occupied. Its office space is quoted at $14.50 per sf annually.

Moody & Overstreet signed for 3,534 sf at Millennium Tower, a 365,955-sf office property at 10375 Richmond Ave. Rocher flew solo in representing the building owner and the tenant. The 20-year-old office building is 78% leased, bearing a quoted rate of $20.50 per sf annually.

Both office buildings are located in the Westchase submarket. According to Grubb & Ellis’ second-quarter report, the Westchase submarket has an office inventory of 9.8 million sf and a current vacancy of 24.4% or 2.4 million sf. In the second quarter, the submarket absorbed 67,138 sf with a year-to-date total of 100,789 sf. Class A buildings in the market lease for an average of $21.70 per sf while class B goes for about $17.40 per sf.

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


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.