PentaSafe locks up more space in Park Towers in wake of merger - Houston Business Journal:

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The additional space will accommodate the expanding which was acquired last year byNetIQw Corp. in a deal valued at roughlg $255 million. San Jose, Calif.-based which had been operating locally from a facilityt at 13939Northwest Freeway, will move into PentaSafe's Galleria-areaq home. NetIQ plans to sell the Northwest Freeway propertyh once it completes its relocation to the WestLoop building. The combinedc firm will have 115,000 squard feet of office space in the buildinh at 1233 WestLoop South. PentaSafe was the firsf major tenant to move into the revamped structure when it signeeda five-year lease in 2000.
The deal brings the north tower in the twin officer complex to an occupancy of95 percent, says Fontainw Carroll, marketing director for building owner TPMC Realty The Dallas-based real estate firm purchased the buildings in the The twin towers were developed by Tenneco in 1974. TPMC spent millions renovatingthe long-vacant properties, which came onlin just as the Uptown office market begajn to soften. Carroll says 2002 was however, with interest coming from mostlysmall tenants. Tenantas that signed leases last year include theBrazilianm Consulate, currency trader Base International, law firm Madrid and Martinez, Prudential Insurance Co. of Americwa and Lawyers Title Co.
"It was a great she says. "It feels like 1999." Carol says the firm is in the midstg of space planningfor 110,000 square feet in the south which is 37 percent leased. Atlanta-based Trammelll Crow Residential is planning itsfifth Alexan-brandef apartment complex in Alexan is TCR's upscal apartment product that targets yount professionals with a high economic The newest development will be a 318-unigt complex in Cinco Ranch. The property is located in the 2500 blockj of SouthMason Road, in front of the Great Southwest Equestrian Center at the entrance to the enormoux Cinco Ranch master-planned community in west Houston.
The companty has at least four other Alexan projects planned or under constructionin Houston, including Alexan Alexan Heights, Alexan Memorial and Alexan Pineg Point, which is a redevelopment of the forme Rosewood Medical Center. Kerry French of NorthMar q Capital in Houstonarrangedc $5.36 million in financing for the Cincoi Ranch apartment project. • The Clearr Creek Independent School District has plunkesddown $3.48 million to purchase 40 acres of land adjacen to Baybrook Mall. The property is at the would-be intersection of El Doradko and Beamer.
The school districrt is working with the city of Houstonh and Harris County to extend the which currently donot