Colvill Office Properties and Cushman & Wakefield have closed on a 52,822 SF lease to Saudi Basic Industries, a petrochemical manufacturer, at 2500 CityWest, a 578,284-SF office building located in Houston’s Westchase District.
SABIC, headquartered in Riyadh, Saudi Arabia, now occupies in 78,840 SF in the the 25-story west Houston office tower where it will have 300 employees.
“SABIC chose to expand its presence at 2500 CityWest as it was already home to many of its operations,” said Susan LeBourdais, spokesperson for SABIC. “With the recent designation of the greater Houston area as the regional headquarters for SABIC in the Americas, it made sense for the company to build out its existing footprint to accommodate immediate and future growth.”
Win Haggard Jr., senior vice president of Colvill Office Properties, represented the property ownership, Crimson Real Estate Fun, a private equity fund sponsored by Patrinely Group and USAA Real Estate Co.
David Guion and Tim Relyea of Cushman & Wakefield represented SABIC in the lease transaction.
Colvill Office Properties specializes in landlord representation of office buildings and currently directs leasing and marketing of 17.5 million square feet of Class A office space in Houston and Dallas.
August 25, 2016 Realty News Report Copyright 2016