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HOUSTON-IBM Corp. has taken 55,600 sf in a class B office building in the southeastern submarket. The Armonk, NY-based Fortune 500 company has signed a long-term lease for an entire floor to house a business unit being relocated from Los Angeles.

Specific rates for the 200,000-sf building at 12301 Kurland Dr. are unavailable, but the submarket’s average for comparable space is $19.50 per sf gross. Eric Anderson, senior vice president with Transwestern Houston, says IBM will set up the shop in November.

“One of the reasons IBM liked the building was the large floor plate,” Anderson tells GlobeSt.com. “In another building, they might have had to be on two or three floors, but here were able to take an entire floor.”

Anderson says the transaction means 25,000 sf is all that remains in a building that was 100% vacant a year and a half ago when Capital Commercial Investments Inc. of Austin acquired it. “They put in excess of $7 million in the building to renovate it. They went in and gutted the building back to slab and rebuilt,” he says. The renovations were completed in late 2006.

The building’s other three tenants are Quanta Services Inc. [formerly Dashiell Corp.], Jacobs Engineering Group Co. and L-Con Construction. All, like IBM, have signed long-term leases.

Anderson partnered with Rob Evans, director of operations with Capital Commercial, to negotiate the pact. John Pruitt, senior vice president with CB Richard Ellis in Houston, was the tenant rep.

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