HOUSTON (Realty News Report) – Transwestern has completed 30,715 SF of new office leases at One Park 10, in the Energy Corridor of west Houston.
Owned by Accesso Partners, the building is a 162,909-SF office building at 16225 Park Ten Place. Transwestern’s Evelyn Ward and Amanda App lease the building.
“Despite a challenged submarket that saw total availability increase past 30 percent during the first quarter, leasing activity for One Park 10 has been strong,” said Ward. “These recent transactions take occupancy over 65 percent, with pending leases pushing the building over 70 percent.”
The Energy Corridor area has suffered in recent years as energy firms have laid off employees and vacated office space. The Energy Corridor office market has a 25.8 percent availability rate and registered negative net absorption of 187,000 SF in the first quarter, according to Transwestern.
The completed transactions in One Park 10 include:
Gulf Island Fabrication Inc. renewed and expanded its current lease of 8,045 SF to 17,156 SF
Gateway Gathering and Marketing Co. leased 3,585 SF
LJB Inc. leased 3,507 SF
Titan Delta leased 3,133 SF
PureWay Compliance Inc. leased 2,190 SF
PhaseIQ LLC leased 1,144 SF
The building currently has 48,872 SF available for lease. Located just off Interstate 10 near Highway 6, One Park 10 will soon offer updated lobby and elevator finishes and an oversized conference facility.
April 17, 2018 Realty News Report Copyright 2018