HOUSTON – Liberty Property Trust is developing a five-story 208,000 square-foot office building with frontage on Beltway 8 just south of Fallbrook Drive. Stream Realty Partners is handling leasing of the building, which will be available for occupancy in the first quarter of 2015.
The building, called Phase I of Legacy at Fallbrook, provides 41,600 square foot floor plates and connects to a structured parking garage with an above average parking ratio of 5.0 per 1,000. Situated on a 20-acre site, the project will ultimately support additional office buildings. Adam Jackson and Stewart Lyman will oversee leasing on behalf of Liberty Property Trust.
In Houston’s Northwest submarket, the Class A vacancy rate has dropped below 5% with few large blocks of space available.
In a separate announcement, Stream Realty said NetIQ, a global enterprise software company, at 515 Post Oak Boulevard in Houston. The 274,000-square-foot Class A office building is located in the Galleria submarket.
NetIQ was represented by Gary Lawless, Jr. and David Price of Cresa Houston while Brad Fricks and Paul Coonrod of Stream Realty represented the landlord, Columbia Property Trust, in lease negotiations.