Trend to Lease Move-In Ready Space Fuels Recent Office Transactions
December 08, 2021
HOUSTON – Transwestern Real Estate Services (TRS) announces it has completed five spec suite lease transactions totaling 12,339 square feet at 1717 St. James Place in Houston’s Galleria submarket. Transwestern Vice Presidents Evelyn Ward, CCIM, and Paula Musa provided Agency Leasing services on behalf of the landlord, Accesso.
The transactions include:
- A 3,010-square-foot lease with AquLending, AquTitle and Prime Gain Realty, a real estate firm and its two sister companies that specialize in mortgage brokerage and coordinating transactions between homeowners and lenders. The tenant self-represented.
- A 2,999-square-foot lease with Jumana Management, a company focused on partnering with management teams and investing permanent capital base in operating business, real estate, and other public and private investments. The tenant was self-represented.
- A 2,879-square-foot lease with Fairytale Art Photography, a portrait studio founded by award-winning photographer Nena Metcalf. The tenant was represented by Chris Reyes and Alyx Haraway Penland of SHOP Companies.
- A 1,756-square-foot lease with Gessner Wealth Strategies, a financial planning and wealth management firm. The tenant was represented by Anya Marmuscak of JLL.
- A 1,695-square-foot lease with Proto Enterprises, a privately held family investment firm. The tenant was self-represented.
“The competition for tenants right now is fierce, but the high-quality, move-in ready spaces available at 1717 St. James Place allowed us to move quickly to attract and sign these tenants,” said Musa. “Smaller tenants looking for space is immediate as they are getting antsy to get back to the office. However, the permitting process is drastically delayed; thus, spec suites expedite the process giving 1717 St. James an advantage over our competitors.”
1717 St. James Place is a six-story, 110,454-square-foot office building that offers proximity to in-demand amenities and restaurants. 1717 St. James Place features an on-site conference room, fully structured parking and covered access with suite options ranging from 1,300 to 15,000 square feet. Opportunities for monument signage along St. James Place are available. Renovations to the building’s lobby, common areas and conference room were completed in 2018. An elevator modernization project is currently underway and is expected to deliver in early 2022.
”We are thrilled with the progress that has been made leasing our spec units at 1717 St. James Place,” said Mike Adams, Managing Director – Southern Region for Accesso. “As more and more people look to return to the office, we are well-positioned to cater to the demand while providing move-in ready space that makes the relocation process more efficient for our tenants. It was a pleasure to work with the Transwestern team to bring more tenants to the building to take advantage of these high-quality spec spaces.”
Photography available for download here.
Accesso is a full-service, vertically integrated commercial real estate investment manager, owner and operator that aims to provide superior returns to its U.S. and international individual and institutional investors. Accesso’s focus is on acquiring office and multifamily properties in non-gateway metropolitan statistical areas, representing the fastest growing metropolitan cities and premier suburban submarkets throughout the U.S. Accesso’s property portfolio includes 32 office properties covering 14.5 million square feet, and the company has two ground-up multifamily properties under development. Its affiliate, Accesso Services LLC, provides proactive, cost-efficient property management services with an owner’s mindset. Accesso Partners LLC is headquartered in Hallandale Beach, FL. and has offices in Atlanta, Charlotte, Chicago, Dallas, Houston and Minneapolis.
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, and investment management. 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.
ICR for Accesso
Megan Kivlehan, Matthew Chudoba or Greg Michaels