Friday , 28 February 2020
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Black Falcon Energy Leases Sublease Space in Downtown Houston

HOUSTON – Black Falcon Energy leased 17,000 SF at the 717 Texas Avenue tower in a sublease of downtown office space.

Contango Oil and Gas Co., the sub-landlord, was represented by Ed Prejean, David Bale and Diana Bridger of JLL. Trey Strake of Cushman & Wakefield represented Black Falcon.

Formerly known as Calpine Center, the 717 Texas Avenue tower is adjacent to the former Houston Chronicle building, which is being demolished by Hines.

According to JLL Research, Houston’s CBD has approximately 27 million square feet of Class A office space. Despite increased leasing activity during the third quarter of 2016, the CBD saw total vacancy for Class A office buildings rise to 15.4 percent, up from 13.7 percent in the second quarter.

Currently, Houston has more than 12.2 million square feet of sublease space available. The average deal size of sublease transactions in 2016 has been approximately 6,200 square feet.

Little remembered fact: Country music artist Jerry Jeff Walker played at the topping out celebration for the 717 Texas Ave. building, which was completed by Hines in 2003.

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