Appraisal Firm Exits CBD for Suburbs

HOUSTON-Bach Realty Advisors Inc. is moving its corporate headquarters from Houston’s CBD to a 1,665-sf suburban office situated 20 miles to the northwest.

Robert Sample of the Calibre Group of Houston represented the a Houston real estate appraisal firm in the lease negotiations for Cornerstone Towers at 3707 FM 1960 West. Wanda Wilson and Marci Phillips, a PM Realty Group team in Houston, spoke for the building owner, Koll Bren Schreiber.

The firm is relocating from 1221 Lamar St., part of a 32-million-sf downtown office inventory to the FM 1960 submarket with 4.2 million sf of office product. The new office, though is nestled in an upscale area with such amenities as easy access to shopping, high-end residential complexes, good schools and the Houston HP headquarters.

Cornerstone Towers, like many of the suburban office buildings in the area, is a low-rise building. It has 71,812 sf in five stories. The 91%-leased structure carries an asking rate of $15 per sf, fairly typical for a class B building in that part of town. In comparison, class B office space in the CBD is getting $20.71 sf.