Houston Center's owner, Crescent Real Estate Equities Co. ofFort Worth, has latched onto a 95% occupancy with the spate ofdeals negotiated by in-house broker Debbie Wilson.
The largest signing is a 366,517-sf headquarters renewal byLyondell Chemical Co. at 1 Houston Center, where the quoted rate is$21 per sf. A tenant since 1986, Lyondell signed another long-termlease.
The tenant's rep, Tim Relyea of Cushman & Wakefield of TexasInc.'s Houston office tells GlobeSt.com that all available spacewas surveyed inside and outside the CBD and a handful of sitestoured in the decision-making process. Relyea says the finalanalysis showed a downtown location was the most efficient. And, headds, the firm's leaders "have always liked the management and thepeople (Crescent)."
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