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HOUSTON-Davis Penn Mortgage Co. has renewed a 6,377-sf lease for 12621 Featherwood Dr. in Houston’s southeast submarket after weighing a move to the west side of town. The new deal was signed six months early, the tenant’s broker says.

Coy Davidson, vice president in the Houston office of Colliers International, tells GlobeSt.com that the five-year tenant signed a medium-term renewal for the Gulf Freeway/Pasadena area after seriously considering a move to the Westchase submarket. But, he says, the Houston firm’s executives re-upped because the existing office was viewed as the most convenient for employees.

Davidson says Davis Penn Mortgage, a HUD-approved lender specializing in financing multifamily projects, re-upped about six months early for the office in the 88,811-sf building, owned by BGK Management. The building owner used in-house broker, Pete Mehlert, to package its terms. The building’s quoted rate ranges from $18 per sf to $19 per sf.

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