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HOUSTON-Abitibi-Consolidated Corp. of Montreal has moved the headquarters of a paper recycling division under terms of a long-term lease crafted for 10,848 sf in 340 North Belt Place. Abitibi Recycling moved from 2350 N. Sam Houston Parkway East.

The new deal lifts occupancy to 84% in a two-story, 177,781-sf office building near George Bush Intercontinental Airport. Cody Smoot and Michael J. Taetz, both with Colliers International’s Houston office, represented the tenant while Houston-based PM Realty Group’s Wanda Wilson and Marci Phillips brokered for the building owner, KBS Realty Advisors of Newport Beach, CA. The class B building’s quoted rate is $12.50 per sf.

According to a press release, the tenant looked at several buildings in the immediate area. “The economics of the deal drove them there,” Smoot said, “and the reputation of the landlord made a big difference.

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