New Tenants Move Into Houston’s Energy Corridor Office Building
One Park 10 in Energy Corridor
HOUSTON (Realty News Report) – Transwestern has completed new office lease agreements totaling 30,715 square feet at One Park 10, located in Houston’s Energy Corridor.
Owned by Accesso Partners, One Park 10 is a 162,909-square-foot office building at 16225 Park Ten Place. The building is marketed and leased by Transwestern brokers Evelyn Ward and Amanda App.
“Despite a challenging local market that saw overall availability rise above 30 percent during the first quarter, leasing activity at One Park 10 has remained strong,” said Ward. “These recent transactions increase occupancy to more than 65 percent, and pending agreements are expected to push occupancy over 70 percent.”
The Energy Corridor submarket has faced pressure in recent years as energy companies reduced staff and surrendered space. Transwestern reports the area had a 25.8 percent availability rate and negative net absorption of 187,000 square feet in the first quarter.
Completed lease transactions at One Park 10 include:
Gulf Island Fabrication Inc. renewed and expanded its lease from 8,045 square feet to 17,156 square feet
Gateway Gathering and Marketing Co. leased 3,585 square feet
LJB Inc. leased 3,507 square feet
Titan Delta leased 3,133 square feet
PureWay Compliance Inc. leased 2,190 square feet
PhaseIQ LLC leased 1,144 square feet
The building currently has 48,872 square feet available for lease. Located just off Interstate 10 near Highway 6, One Park 10 will soon unveil refreshed lobby and elevator finishes and an oversized conference facility as part of its building improvements.
