HOUSTON – The recent arrival of KHOU-TV Channel 11 as a major tenant, following flood damage at its previous location, combined with a $10 million renovation program, has sparked renewed leasing momentum at the 5718 Westheimer office tower near the Galleria.
CBRE leasing agents Marilyn Guion and Parker Duffie have secured more than 18,000 square feet in recent transactions.
“The KHOU-TV lease was a significant win and has helped re-energize the property along with the physical improvements,” Guion said.
KHOU moved into the 22-story tower at the corner of Westheimer and Bering Drive earlier this year, occupying approximately 43,000 square feet across three floors.
The station relocated after its previous broadcast facility on Allen Parkway, near Buffalo Bayou, flooded during Hurricane Harvey in 2017. Floodwaters forced the broadcaster to shift operations and ultimately vacate that site.
Beyond KHOU’s tenancy, CBRE attributes the building’s stronger leasing performance to a $10 million capital improvement program and new tenant amenities. Upgrades include a redesigned entrance, refreshed multi-tenant corridors, destination-dispatch elevators, enhanced green space, and a modern fitness and conference center.
“Tenants and the market have noticed the transformation, and the property is now an appealing option,” Guion said. “Ownership’s substantial improvements reflect a long-term commitment to the asset.”
Recent 2019 leasing activity includes Fizer Beck taking 12,091 square feet and Next Level Urgent Care leasing 5,459 square feet, along with an additional 7,670 square feet in signed deals. Tenants have benefited from a marketable speculative suite program, and Guion and Duffie report leasing approximately 70 percent of the move-in–ready suites to date.
The 500,000-square-foot Class A building was developed by Alfanco Inc. in the 1980s and is owned by UBS Financial Services.
The tower was recognized as the Houston BOMA Office Building of the Year for 1999–2000.
Designed by Houston-based Morris Aubry Architects, the building shares its architects with several other prominent 1980s projects in the city, including the Wortham Center, 1600 Smith, and 1001 Fannin.
In earlier years the property was known as MCO Plaza and One Westheimer Plaza.
Oct. 24, 2019 Realty News Report Copyright 2019
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