HOUSTON-Toyota Motor Credit will help backfill a 70,000-sf hole left when the local office of the Hartford left Paragon Center One in the Greenspoint submarket in winter 2002.

Set to move soon from space at Greenspoint Plaza, a Hines development, into a 7,000-sf office space at Paragon Center, Toyota has made a five-year commitment to its new office building. Greg Tilton with the local office of Transwestern Commercial Services was the in-house representative for the building owner, Transwestern CG Partners I LP of Chicago. Tilton tells GlobeSt.com that Toyota’s lease takes occupancy in the building to 71% and reports that half or 35,000 sf of the Hartford’s former space has now been backfilled. Including Toyota, Tilton says he completed seven deals since the Hartford left.

Built in 1983, Paragon Center is a 180,278-sf, class A building located at 450 Gears Rd. in north Houston. Asking lease rates at the building are $20.50 per sf, which Tilton says is about $5 per sf less than its other class A competitors in the submarket. This gives the building a definite advantage, says Tilton, adding that at lease two recent leases–in addition to the Toyota deal–involved tenants migrating from one of the submarket’s other class A buildings.

Toyota had Bob Parsley of the local office of Colliers International and Wade Clark with the local office of the Staubach Co. as its representatives.

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