Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Tractebel North American Services Inc., a subsidiary of Tractebel Electricity and Gas International of Brussels, is moving its North American headquarters in a space trade-up from within the Houston Galleria submarket.

The Belgium-based firm took 87,980 sf for 10 years in Three Post Oak Central at 1990 Post Oak Blvd. in a near even swap for space from 1177 W. Loop South, Bob Boykin, regional vice president of leasing and marketing for Crescent Real Estate Equities Co. tells GlobeSt.com. Later this year, the tenant will move 2.3 miles from a class B office building along the 610 Loop to the class A property in the inner core of the prestigious Galleria submarket.

Three Post Oak Central is part of a three-building, 1.2-million-sf office project, with an asking rate of $21 per sf. Bill Schneidau, leasing manager, and Boykin represented the building owner, Fort Worth-based Crescent, in the lease negotiations.

According to Boykin, Tractebel’s move will result in just a marginal increase in office space from the existing address. He says Tractebel shopped the market extensively within the Galleria area as well as the far west submarket near the Beltway before signing with Crescent.

William P. Utt, president and CEO of Tractebel North America, said in a press release that Three Post Oak Central won the face-off because it had “the space we need to support our growing business activities as well as attractive amenities for our employees and guests.” Boykin says the firm was impressed with the on-site daycare, dry cleaners, health club and food service vendors as well as the complex’s upscale image and architecture. Harry Holmes of Houston Office Leasing Management Estate Services represented Tractebel.

Tractebel primarily is filling space vacated a few years ago by Morgan Stanley, says Boykin. A few other tenants are being moved within the complex to provide a full six floors for Tractebel, he adds. The lease boosts occupancy to 98.8% at Three Post Oak Central and 92% for the entire complex.

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.