Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-It’s taken 15 months, but a 68,210-sf office building in Houston’s northwest submarket has reached 100% occupancy. The “no vacancy” sign goes up because an existing tenant expanded.

The four-story building, 8300 FM 1960, lost two full-floor tenants in January 2002 to slash occupancy to 57%. Taking an extra 1,407 sf to fill the building is Tammany Oil & Gas LLC, a tenant since June 2002. The firm, which now leases 4,442 sf, holds a long-term lease for the office area.

“To lease up FM 1960 in 15 months, we did three things,” Wanda Wilson of PM Realty Group in Houston tells GlobeSt.com. The measures consisted of a targeted marketing campaign, renovations to the common areas and deals with free rent and lower first-year rent for the first full-floor tenant signed. “Then, with the remaining new tenants needed to fill up the building, we were able to rent the space at market rates,” she says.

The Newport Beach, CA-based Koll Bren Schreiber Realty Advisors is the building owner, which is represented by PM Realty Group’s Marci Phillips and Wilson. Nancy Rust of Rust Realty in Houston bargained the lease expansion terms on behalf of the tenant.

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.