Griffin Partners Gains Tenants at Loop Central

HOUSTON – Griffin Partners announced significant leasing activity at Loop Central, its three-building office campus near Loop 610 and Westpark.

Community Health Choice Texas, a nonprofit managed care organization, signed a new 82,706-SF lease for four full floors at Loop Central I, driving a significant occupancy boost. Transwestern’s Kelli Gault, Jack Scharnberg, and Doug Little and David Baker represented the landlord, Griffin Partners. Community was represented by David Boyd of Boyd Commercial and Lucian Bukowski of CBRE.

In terms of occupancy, Loop Central stands out in comparison to the West Loop submarket.

Several recent transactions, totaling 110,050 SF, boosted tenancy at the 574,944-SF Loop Central by 16.1 percent.

In a major transaction, Community Health Choice Texas, Inc., a nonprofit managed care organization, just signed a new 82,706-SF lease for four full floors at Loop Central I, driving the significant occupancy boost.

“Loop Central was a good option for Community to consider because of its ideal commute location, proximity to tenant amenities, competitive economics, visibility and parking options,” said Bukowski of CBRE.

Loop Central underwent extensive renovations in 2020, which included an upgraded fitness center, full-service café/deli, wi-fi-equipped tenant lounge, full-service conference facility with kitchen, and multiple indoor and outdoor seating options offering co-working options and entertainment.

“A unique attribute of Loop Central is its location,” said Gault. “Situated on the brink of the Galleria and Greenway submarkets just inside I-610, Loop Central offers tenants the ability to access all the amenities these submarkets have to offer within minutes. Additionally, the property’s proximity to several of Houston’s major thoroughfares allows tenants the convenience of easy ingress and egress without dealing with the traffic congestion considered typical in these submarkets.”

With a parking ratio exceeding 3.5 per 1,000 square feet, Loop Central is adjacent to the I-69/I-610 interchange, a connection point for two of Texas’ most-traveled highways. The interchange is part of a $259 million improvement project by TX DOT to improve safety and mobility while reducing congestion.

Griffin Partners Griffin Partners is a commercial real estate investment, development, and property management firm founded in 1980 by Fred Griffin. Headquartered in Houston, Griffin Partners cumulatively has acquired or developed over 18 million SF of space across more than 79 projects comprised of 112 individual properties, with an aggregate value that exceeds over $2.5 billion.

Mr. Griffin has been active in the Houston real estate community for many years.  Earlier he worked for Exxon as a senior executive in its real estate subsidiary, Friendswood Development. He was key in the development of the Greenspoint commercial development in north Houston in addition to several of Friendwood Development’s master planned communities including Kingwood, Woodlake, Copperfield, and Clear Lake City.

In 2021, Griffin Partners announced development  of a 115,000-SF building at Houston Spaceport for Hamilton Sundstrand, a subsidiary of Collins Aerospace.

The 115,000-SF facility, located on the south quadrant of the Ellington Airport, will provide 50,000 SF of corporate office space and an additional 10,000 SF will be used as a spaceflight accelerator for collaboration of start-up entrepreneurs and businesses involved in space ventures.

Griffin Partners owns and operates properties throughout Texas, Colorado, Arizona, Utah, Tennessee, and North Carolina.


March 14, 2023  Realty News Report Copyright 2023

Photo: Courtesy Transwestern

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File: Griffin Partners Gains Tenants

 

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