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Tenaris tapped partner real estateFormerly known as NAI Partners. The partner team responsible for leasing the building consists of Vice Presidents Michael Seeger, Andy Parrish and Leslie Rice.
According to CommercialEdge, the owner, a global pipe manufacturer, purchased a Class A asset at 2200 W. Loop S. in 2014 for $47 million.
The 10-story tower is part of the Galleria submarket and features 16,000 square feet of floorplate, four passenger elevators and 807 parking spaces, the same data provider said. The property is located on his 4.3 acre lot close to Interstates 610 and 69 and across from the Galleria Shopping Center. The plot is less than 9 miles from downtown Houston and within 13 miles of the city’s energy corridor.
Office vacancy rates continue to rise nationally, according to a recent report from CommercialEdge. Houston’s office vacancy rate was 28% in September, the highest of all major US markets, followed by Atlanta (21.2%), Chicago (19.9%) and Nashville (19.5%). Listing rates in the market that month reached $29.98 per square foot, with Miami ($48.32) and Austin ($42.05) having the highest figures among the Southern metropolitan areas.
Also in September, EOG Resources Inc. extended the lease of AEW Capital Management’s Heritage Plaza, a Class A+ office tower in downtown Houston. Tenants have signed up for a total of 375,000 square feet in the 1.1 million square foot skyscraper.
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