Avison Young news: Find out the latest industry happenings
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young negotiates 49,662-sf lease on behalf of CTCI Americas, Inc. in Houston’s Energy CorridorJune 22, 2022
Houston, TX – Avison Young has announced it has negotiated a long-term, 49,662 square-foot (sf) office lease on behalf of CTCI Americas, Inc. (CTCIA), a U.S.-based engineering, procurement, and construction firm, at 15721 Park Row in Houston’s Energy Corridor.
Avison Young Principal Josh Morrow who is out of the firm’s Houston office represented CTCIA. CBRE’s Steve Rocher, Parker Duffie, and Jenny Mueller represented the landlord, BH Properties in the transaction.
CTCIA is a subsidiary of CTCI, a global engineering, procurement, and construction services provider. Founded in 1979, CTCI emerged as the leader in Taiwan's hydrocarbon processing industry and an active player in the international power, environmental, transportation and industrial markets. Expertly delivering technically complicated projects in markets all over the world, CTCI has become the engineering partner of choice for global leaders across Asia, the Middle East, and the Americas.
The firm has more than tripled its previous space which was located at 11490 Westheimer Road in Houston just over eight miles away from its new location. The company recently relocated to its new space on the third and fourth floors of the Class A six-story, 145,000-sf building.
“We needed to quickly identify a strategic option given CTCIA’s compressed move-in requirement,” said Morrow. “The space at 15721 Park Row was move-in ready and fully furnished. Both floors were formally occupied by another engineering firm, which nearly mirrored CTCIA’s desired layout. This was ideal, quality space that allowed for a seamless move-in with minimal interruption of business operations.”
Avison Young conducted a comprehensive dive into the market to review all office options for CTCIA. Location, layout, opportunity to expand and the economic and non-economic terms Avison Young was able to negotiate and secure ultimately made 15721 Park Row the ideal relocation option.
Located at 15721 Park Row Drive, the building is a master-planned, six-story office building with efficient floor layouts designed to promote flexibility and collaboration. The property’s amenities will soon include a tenant lounge and outdoor collaboration area, onsite conference facility to complement the building’s current features such as a two-story stone entry lobby, high-speed elevators, and 25,000 sq. ft. floorplates. Positioned at the epicenter of the Energy Corridor, 15721 Park Row offers a strategic location with direct visibility to Interstate 10 and convenient access to State Highway 6, Beltway 8, and Grand Parkway.
Morrow added, “It is a fantastic time to be a tenant in search of new office space. There are a multitude of great options, and occupiers are now able to take advantage of the market conditions to make a flight to quality and lock in extremely favorable terms.”
For more information:
Darcie Giacchetto, Media Relations Specialist – Southwest: +1.949.278.6224
Josh Morrow, Principal, +1.713.993.7833