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HOUSTON-A collections firm has expanded a 58,858-sf lease by 20,586 sf in southwest Houston after weighing all options in the submarket.

LTD Financial Services of Houston renewed and added office space in Arena Tower One at 8322 Southwest Freeway. The tenant’s representative, Jon Silberman in the Houston office of NAI Partners Commercial, tells GlobeSt.com that all options–leasing, buying and building–were considered in the southwest Houston submarket before making the decision to stay. He says the disruption of a move and economics of the deal at Arena Tower One were the convincing factors.

Silberman is mum about the lease length and terms, but the advertised rental rate at the class B, 389,249-sf office building is $15 per sf. LTD will be moving into its new space in early 2004, according to Silberman. Mike Hackett of PM Realty Group, represented the building owner, CSFB 1998 FL1Arena Towers LP, in the transaction for the two-building office complex, constructed in the early 1980s.

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