HOUSTON – Greenspoint, the emptiest office submarket in Houston with a 46 percent vacancy rate, has a small bit of positive news.
SAE Towers, which is one of the world’s largest producers of steel lattice towers for high-voltage power transmission, has renewed their 2,500-SF office lease in the Four Greenspoint Place building, 16945 Northchase Drive.
Greenspoint, which is on the north side of Houston, has 97 buildings with a total of 13.2 million SF, according to Transwetern. Exxon Mobil left Greenspoint, vacating 2 million SF to relocate to its new campus north of Houston. A number of other firms have departed from Greenspoint, which is near Interstate 45 and Beltway 8.
Ryan Dierker, associate broker at Newcor Commercial Real Estate, represented SAE Towers in lease negotiations. “After a comprehensive evaluation of the options in the market, SAE Towers has concluded that 4 Greenspoint Place is the best fit,” said Dierker.
The landlord, Greenspoint Plaza Limited Partnership, was represented by Vince Strake with Colvill Office Properties.
Dec. 27, 2016 Realty News Report Copyright 2016