JLL announced today it has completed four leases, totaling approximately 15,000 square feet, at 5300 Memorial in Houston. Plavnicky, Kinzel & Makowski, LLP; Spain, Price, Reader & Thompson, P.C.; Gulf Coast Bank & Trust; and Moleculin Biotech Inc., recently signed leases at the Class A office building, which is now 84.3 percent leased.
JLL’s Russell Hodges and Jessica Ochoa represented the landlord, Philadelphia-based Equus Capital Partners, in the transactions.
• Houston-based Plavnicky, Kinzel & Makowski, LLP signed a 5,054-square-foot lease extension. Vincent Gyorgy of NAI Partners represented the firm.
• Spain, Price, Reader & Thompson, P.C. signed a new 4,097-square-foot lease and will relocate from Wortham Tower at 2727 Allen Parkway. Marshall Clinkscales of Colliers represented the Houston-based accounting firm in the transaction.
• Louisiana-based Gulf Coast Bank & Trust signed a new 3,689-square-foot lease and will relocate from 13105 Northwest Freeway. Avison Young’s Josh LaRocca represented the tenant.
• Moleculin Biotech Inc. signed a new 2,333-square-foot lease and will relocate from 2575 West Bellfort St. Jane Nodskov with ICO Commercial represented the Houston-based pharmaceutical company.
“5300 Memorial’s specialized location and recent building renovation continue to attract a diverse tenant base looking for a Class A office experience in an easily accessible, yet amenity rich setting,” said Hodges.
Demonstrating the Midtown office submarket’s diverse tenant mix, 5300 Memorial’s tenants span the law, energy, financial, technology and real estate industries. The submarket’s varied base of end-users and niche location have largely insulated it from the impact of the oil and gas downturn. The submarket recorded 15.5 percent total vacancy and positive net absorption of approximately 120,000 square feet in the fourth quarter of 2017.
5300 Memorial is an 11-story, 153,000-square-foot office building. Features of the property include a five-level, dedicated parking garage, on-site property management and security, card key access, and recently upgraded lighting, finishes and fixtures in the lobby, elevators, restrooms and corridors.
