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HOUSTON-Acosta Sales and Marketing Co. is the first tenant to take space at the recently completed, 63,000-square-foot Beltway 8 Corporate Centre Building 5. The company signed a long-term lease with owner Panattoni Development Co. LLC for 27,480 square feet, and will move into its new space in late summer 2009.

Acosta’s upcoming move to 5050 Westway Park Blvd. represents a consolidation and relocation for the company, which provides sales, merchandising, marketing and other services to manufacturers in the consumer packaged goods industry. Acosta is currently located at 10800 Richmond Ave. on the west side and 1701 Detering St. in the northwest near submarket.

NAI Houston’s Griff Bandy tells GlobeSt.com that Acosta began its search for space about a year ago, confining its activity to newer office/flex space in the northwest submarket. “It came down to a handful of options, and they felt that Panattoni provided the best long-term solution,” says Bandy, who represented the Jacksonville, FL-headquartered Acosta with NAI Houston colleague Dan F. Boyles Jr. and Bill Knight of GVA-Advantis in Atlanta, GA.

Panattoni Development, represented in-house by Justin Bennett as well as by John Pruitt, Kristin Rabel, and Jessica Ochoa of CB Richard Ellis, was also amenable to having the shell facility moved into a turn-key project, meaning no out-of-pocket expenses for Acosta, Bandy says.

Panattoni Development broke ground on the 120-acre Beltway 8 Corporate Centre in 2001. When built out, the business park in the northwest submarket will hold more than 1.3 million square feet of office space and flex facilities. Quoted asking rates for class A office space in the area range from $25 to $30 per square foot.

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