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HOUSTON-The need for expansion drove Tax Masters Inc. to sign a long-term lease taking down a 107,890-square-foot building on the west side. The IRS tax relief representation company will move into its new space, which once belonged to Foster Wheeler USA Corp., during Q4 2009.

Tax Masters’ founder Patrick R. Cox said in a prepared statement that the firm had grown from seven employees to almost 300 employees in a seven-year period, which prompted the search for space. A specific lease consideration wasn’t provided for the deal at 2020 Dairy Ashford, which is owned by DAP Plaza Ltd. Similar office product in the market leases for between $18.50 per square foot and $19.50 per square foot.

CB Richard Ellis’ senior vice president Dave Hanusa tells GlobeSt.com that the 1980s building was headquarters for Foster Wheeler, before it relocated to Energy Center I in July 2008. Hanusa worked with D.A. Smith, Director of Leasing with Houston-based Briarhollow Realty Group, Inc. on behalf of the landlord, and says the building was vacant since Foster Wheeler’s departure, but attracted a great deal of interest.

“We wanted tenants that would take at least a full floor,” he comments. “We were touring tenants who wanted anywhere from 15,000 square feet to the entire building.” Tax Masters, he continued, liked the location, the parking and the value. The parking, especially, was a strong selling point. “We have better-than-standard parking there,” Hanusa says.

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