HOUSTON – Transwestern Real Estate Services (TRS) announces that Park Towers, a Class A office property leased on behalf of Regent Properties, has achieved the highest level of occupancy growth for pure office product in the West Loop/Galleria submarket since 2019 after Wilson, Cribbs & Goren, P.C. signed a long-term, 23,028-square-foot lease. Transwestern Executive Managing Director Doug Little, Senior Vice President Kelli Gault and Vice President Jack Scharnberg represent the landlord in the transaction.
Since being awarded the assignment, the Transwestern team has executed 27 transactions at the newly renovated, 325,000-square-foot campus on behalf of Regent Properties. With over 170,000 square feet of positive absorption, the complex has achieved the third-highest amount of net new leasing in the city. Occupancy at the complex, which Regent acquired in 2019, has risen from 50% to 80%.
“We believe that Regent Properties’ continued focus on delivering best-in-class amenities coupled with our curated tenant experiences continues to attract high-quality tenants to Park Towers and to our entire portfolio across the Sun Belt,” said Matthew Benbassat, Chief Operating Office for Regent Properties.
Comprised of two 18-story office buildings, Park Towers is centrally located at the intersection of West Loop and Post Oak Boulevard, offering impressive views of downtown, easy access to the Uptown Park shopping center, and the recently restored and expanded Memorial Park.
The campus features easy ingress/egress and boasts a high-performance fitness facility in each tower; a conference center equipped with state-of-the-art A/V capabilities; a tenant lounge with a golf simulator; bike storage; Amazon Hub Lockers; an onsite deli; and an adjacent Starbucks with a drive-thru.
Wilson, Cribbs & Goren was represented by Colliers’ Taylor Wright.
About Regent Properties
Founded in 1989, Regent Properties, LLC is an SEC-registered investment advisor and is a real estate investment management and development firm based in Dallas, Texas and Los Angeles, California. The company is a vertically integrated operator and fund manager with current investments concentrated in six Sun Belt markets. Regent Properties manages a variety of investment vehicles, including comingled funds and separate accounts, on behalf of a sophisticated institutional investor base. Regent’s assets under management are approximately $2.5 billion as of 3/9/2022.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic programs for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Montgomery Angel
346.232.8625
Montgomery.angel@transwestern.com
twmediarelations@transwestern.com
