Petro Trader Relocating in SW Houston

HOUSTON-Houston-based Frontera Petroleum Resources has leased 2,120 sf at the Regency Square Tower at 6200 Savoy in southwest Houston. The firm will relocate from 8449 W. Bellfort St., a move of less than six miles.

With the new deal, the 219,100-sf, 12-story building is 77% occupied. Office space in the building runs $14 per sf.

Steve Rocher and Kristen Porter, a Houston team for Grubb & Ellis Co., represented the property owner, Unilev Management. Stan Reid of Investors Realty Services spoke for the incoming tenant. Frontera is a marketer of crude oil, sells refined products, distributes chemicals and is a commodity trader.

The near southwest submarket has about four million sf of office product. Regency Square Tower’s asking lease rate is slightly less than the submarket average, $14.46 per sf, for class B product. The area, bearing a 16.4% vacancy, absorbed 134,864 sf through the third quarter, the highest absorption rate in the city.