Success Stories

Envoy Mortgage, Ltd.

Houston, Texas
31,000 SF
Cresa Houston, TX
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Client Objectives

Faced with renewing their lease or relocating to a class "B" building comparable to their existing building, 5100 Westheimer, Envoy Mortgage was concerned about minimizing operational disruption but wanted to explore building alternatives. The client was looking for a building offering immediate access to major vehicular thoroughfares and amenties, large floor plates, high-density parking, below market economics, expansion and lease term flexibility, above normal electricity capacity and back-up systems, and major tenant exterior identification.

Cresa Team Members

Results

After conducting a lengthy and comprehensive multi-submarket search that included numerous proposals and counter-proposals, only a few buildings met their objectives. However, the one that responded most favorably was their existing building, a well located, high-quality class "B" building located in Houston's West Loop/Galleria submarket. With the 5100 Westheimer landlord, we were able to negotiate a renewal that included immediate contiguous expansion space and very beneficial future expansion terms on two floors, a very competitve rental rate structure and improvement allowance, lease termination option, rights to control the top level of the garage, including the option to re-stripe the spaces for increased density; the landlord's provision of an emergency generator, and two upper level on-building signs and one monument.

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