Set to move soon from space at Greenspoint Plaza, a Hinesdevelopment, into a 7,000-sf office space at Paragon Center, Toyotahas made a five-year commitment to its new office building. GregTilton with the local office of Transwestern Commercial Serviceswas the in-house representative for the building owner,Transwestern CG Partners I LP of Chicago. Tilton tells GlobeSt.comthat Toyota's lease takes occupancy in the building to 71% andreports that half or 35,000 sf of the Hartford's former space hasnow been backfilled. Including Toyota, Tilton says he completedseven deals since the Hartford left.

Built in 1983, Paragon Center is a 180,278-sf, class A buildinglocated at 450 Gears Rd. in north Houston. Asking lease rates atthe building are $20.50 per sf, which Tilton says is about $5 persf less than its other class A competitors in the submarket. Thisgives the building a definite advantage, says Tilton, adding thatat lease two recent leases--in addition to the Toyotadeal--involved tenants migrating from one of the submarket's otherclass A buildings.

Toyota had Bob Parsley of the local office of ColliersInternational and Wade Clark with the local office of the StaubachCo. as its representatives.