Property Types Office
Firm Renews and Expands Lease to Occupy Entire 300,000SF Energy Corridor Building
May 16, 2008

The Shaw Group Inc. will stay put at 1430 Enclave Parkway now that it has renewed its lease with property owner Piedmont Office Realty Trust. Not only will the company continue to occupy its space at the 312,500-square-foot property, it will expand by 106,500 square feet to occupy the class A building in its entirety. Class A office space in Houston's Energy Corridor is scarce, according to real estate services firm Transwestern, which orchestrated the lease transaction. The average vacancy level for premier office space in the submarket is only 2.5 percent, and there are no available blocks of space larger than 40,000 square feet.

 
Recent Office Headlines
AIG 70 pine st smal AIG Headquarters Sale Makes Splash in Quiet Manhattan Investment Market
June 10, 2009
With rumors circulating of a sale price around $100 per square foot, the sale of the 66-story American International Group headquarters in Lower Manhattan likely set the bar for the biggest sale in the area market thus far in 2009.
Despite Office Market Slump, 1M-SF Connecticut Office Campus Trades in $72M Deal
June 09, 2009
It's an office trade of such a size that has not been seen in Connecticut, no less challenged by job losses and economic malaise than most other markets, in quite a while. Matrix Connecticut L.L.C. has just taken over ownership of the 1 million-square-foot Danbury Corporate Center in Danbury, Conn., from GERA Danbury L.L.C. in a $72.4 million merger transaction. The deal is a coup for Connecticut, as well as its neighbors, as it marks the largest multi-tenant office transaction in the suburban New York Tri-State area so far this year.
Tokyo is Priciest Market as Climate Favors Office Tenants Worldwide: CBRE
June 08, 2009
Tenants have the edge in most of the world’s major office markets, concludes an analysis by CB Richard Ellis Inc. Class A rents are sliding dramatically and vacancy is ticking upwards in nearly every region, according to the study published last week.
 
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