HOUSTON – (Realty News Report) – Lee & Associates – Houston has been selected to handle leasing and property management at four additional office buildings in the Houston market as the new year begins.
The new assignments arrive as Houston’s office sector navigates rising vacancy and negative absorption driven by the economic effects of the COVID-19 pandemic. Workforce reductions in the energy industry and other sectors have also weighed on demand.
“Even though the leasing market was in a constant state of change in 2020, we have been able to lease up office buildings like 550 Wescott because of our focus on technology,” said Jill Nesloney, principal at Lee & Associates – Houston. “Today’s platforms and digital marketplace are driving forces, and we’ve learned to adapt and use these tools to our benefit.”
The Lee & Associates – Houston Landlord Services team includes three principal-level brokers — Jill Nesloney, Robert LaCoure and Chris Lewis — with Shawn Harvey, Managing Director of Integrated Services, leading the company’s property management operations.
In January 2021 the firm’s Landlord Agency team was retained for the following Houston office properties:
- 10700 Richmond
- 139,072 square feet
- 12946 Dairy Ashford
- 60,392 square feet
- 2180 North Loop West
- 72,627 square feet
- 2190 North Loop West
- 63,069 square feet
After leasing 550 Wescott to a 91 percent occupancy rate and overseeing renovations there, the owner asked Lee & Associates – Houston to take on additional buildings with the goal of improving occupancy across the portfolio. Downsizing trends that accelerated during the pandemic prompted the firm to prioritize move-in-ready spaces and faster turnarounds to meet tenant needs. Quick decision-making by building owners also supported prospects who were seeking short-term, flexible solutions.
“The bandwidth and support we offer allows our team to lease up buildings faster. From marketing a property to making outreach calls, the team is all hands on deck,” Nesloney said. “We look forward to continuing this success and positive growth in 2021.”
Many tenants have placed leasing plans on hold in recent months while corporate leaders reassess workplace density and the long-term impacts of social distancing and remote work. Those considerations are shaping office demand and leasing strategies going forward.
Several new office projects are under construction in Houston, and higher-quality developments continue to benefit from a flight-to-quality among tenants seeking modern amenities and efficient layouts.
Feb. 19, 2021 Realty News Report Copyright 2021
File: Lee Starts 2021 with 4 Assignments
Caption: Downtown Houston: Photo credit: Ralph Bivins. Copyright 2021
File (2) Houston office market. Jill Nesloney, Robert LaCoure and Chris Lewis, Shawn Harvey. Lee Starts 2021 with 4 Assignments. 10700 Richmond.