THE WOODLANDS, TX-Banco Bilbao Vizcaya Argentaria, a leading Spanish bank with global headquarters in Bilbao, Spain, has leased 15,065 sf of class A office space at Waterway Plaza II.

BBVA will establish its North American headquarters in the six-story, 142,230-sf building at 10001 Woodloch Forest Dr. The bank has satellite offices in Galleria Financial Center at 5075 Westheimer Rd. and Greenspoint II at 16825 Northchase Dr.

“BBVA looked at class A space only and identified three or four different buildings in different submarkets across Houston, but finally just picked the Woodlands,” says Jay Kyle, a vice president with Colliers International. He and Colliers’ CEO Robert S. Parsley ran the bank’s search and negotiations for Houston space. The headquarters’ doors will open in February.

Kyle says that the Woodlands offers a nice corporate setting for the bank, which will be relocating personnel from Bilbao and Mexico City. He tells that there were not too many options to pick from in the Woodlands, except the two-building Waterway Plaza complex.

Waterway Plaza, built in 2001, totals 366,000 sf and includes a 1,300-vehicle parking garage. The complex was acquired from Anadarko Petroleum Corp. late last year by Houston-based Lionstone Group in a $360-million venture with the Oregon Public Employees Retirement Fund. The building owners were represented in the BBVA deal by Todd King, Clint Bacum and David Baker with Houston-based Transwestern Commercial Services.

The 90%-leased buildings’ tenant rosters include Huntsman LLC, Charles Schwab & Co., UBS Paine Webber, Eli Lilly and others. The quoted rent is $25 per sf to $26 per sf.

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