HOUSTON — Vantiv LLC, a Cincinnati-based payment processing company, has leased 41,000 square feet of office space at Reserve at Greens Crossing, located in the Greenspoint area north of Houston.
Transwestern brokers Michelle Wogan and Monte Calvert negotiated the lease on behalf of the property owners, a joint venture between Miami-based Banyan Street Capital and funds managed by Oaktree Capital Management.
The Vantiv transaction raises the occupancy at Reserve at Greens Crossing to roughly 75 percent, up from about 50 percent. Vantiv was represented in the deal by David Guion of Cushman & Wakefield.
The Greenspoint District—recently rebranded as the North Houston District—has experienced lower occupancy levels following ExxonMobil’s departure from the area.
“We’ve seen increased activity from call-center and high-density office users searching for locations that offer above-average parking ratios,” said Wogan. “This park is well-suited to those tenants: much of the product supports high-density uses and all utilities are buried within the campus.”
Developed by Simmons Vedder in 2000, Reserve at Greens Crossing is a 158,435-square-foot office campus set within a deed-restricted, park-like setting. The property is conveniently located near Beltway 8, Interstate 45 and George Bush Intercontinental Airport. Following the new lease, just over 41,000 square feet remain available for sublease or direct lease.
Jan. 20, 2017 Realty News Report Copyright 2017