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HOUSTON-United Healthcare Insurance Co. which presently leases 134,000 sf in Southwest Corporate Center, has renewed its pact for seven more years and taken an additional 46,000 sf of the class A office space. United Healthcare will get keys to the extra space in December, taking down part of Dillard’s former store at the redeveloped Westwood Mall.

A source familiar with 536,000-sf Southwest Corporate Center at 9700 Bissonnet St. explains the former mall, built in 1975, is being redeveloped in two phases. Work began on the 380,833-sf first phase some years ago, which was fully occupied by late 2006. In the meantime, the owners also invested $4 million into gutting and completely renovating Dillard’s former 155,167-sf store. “The second phase just opened for lease two months ago and that’s where United Healthcare’s expansion space will be,” the source tells GlobeSt.com.

Southwest Corporate Center’s quoted rate is $17.50 per sf on a modified gross. The source says United Healthcare is paying market rate. According to recent reports, the full-service rate for class A office space in the southwest submarket ranges from $15 per sf to $19 per sf.

The United Healthcare lease leaves a little more than 100,000 sf left to fill in the second phase. Although no additional tenants are lined up at this time, a national bank has signed a letter of intent to take one of five one-acre pad sites in front of Southwest Corporate Center.

Steve Bryant, senior vice president of leasing for Moody Rambin Interests in Houston, represented the local owner, WOO Westwood LP. CB Richard Ellis’ Houston office represented United Healthcare.

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