Finding a Home Builder a New Home

Client
  • Meritage Homes
Space
  • 22,032 sq. ft.
Industry
  • Life Sciences
  • Construction
Locations
  • Houston
Services Provided
  • Transaction Management
  • Project Management
Cresa Team
  • André Granello
  • Neil Elliott

Client Objectives

  • Meritage Homes was seeking a full floor of Class A office space along the West Belt.
  • The client was eager for a good value play in a market that offered ease of access for their current employees and to an educated labor pool to fuel future growth.
  • As a high-density user, Meritage Homes was also wanting to identify an efficient floorplate and secure building signage, which is unusual for a tenant of its size.

Results

  • Cresa looked at traffic patterns for current employees and ran a detailed labor analysis to determine which market could best support the client’s future growth.
  • Through this analysis, Cresa identified an exceptional value in Westchase that met the client’s key requirements.
  • Cresa then delivered 10-year economics on a 7 year deal by leveraging the market, achieving a robust tenant concessions package highlighted by 11 months of abated rent, building signage and a large TI allowance.

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