JP Kenny's Team Settles Into 53,808-SF Office

HOUSTON-Pipeline and subsea engineering contractor JP Kenny Inc. has relocated to 53,808 sf of class A office space, inking a long-term lease for the 155,789-sf Park Ten Plaza. The company has taken over space emptied in the spring by Mustang Engineering.

Brad Fricks, vice president of Stream Realty Partners LP’s Houston office, says JP Kenny took most of Mustang Engineering’s former space in Park Ten Plaza at 15115 Park Row. “There’s one vacancy left in the building, totaling about 3,300 sf,” says Fricks, who negotiated the lease for the building owner, Invesco Real Estate of Dallas.

The quoted rate for suburban office space is $28 per sf to $30 per sf. As would be expected, JP Kenny did get some tenant improvements with the signing. Steven J. Hesse, executive vice president in Houston for CB Richard Ellis, represented the tenant, which vacated a nearby office.

Mustang Engineering left Park Ten Plaza in the spring for a brand-new 174,521-sf office building at 17000 Katy Fwy. Fricks tells GlobeSt.com that JP Kenny’s move from 16340 Park Ten Place also was due to Mustang Engineering, which also leased space in the building and needed more room. Both companies have the same owner.

The Kenny lease brings Park Ten Plaza to 97.8% occupancy. Fricks says there isn’t much lease rollover in the next year. “There are a couple of small leases that expire in 2009, but that’s about it,” he adds. The other major building tenant is Accenture Ltd. Invesco acquired Park Ten Plaza about one year ago and brought in Stream Realty Partners to lease it.