Defense Contract Audit Agency Signs 7,007 Square Foot Lease
Thursday, September 16th 2010
Houston, TX–The United States Federal Government has added a second federal agency to an office building located at 12650 N. Featherwood Drive in Houston. The 7,007 square foot lease brings the two-story facility to 100% occupancy. This is the second recent transaction that has brought a Panattoni property to maximum capacity. Other tenants in the 58,236 square foot building include: Zachry Industrial, Davis Penn Mortgage Co., ImpactWeather, Federal Aviation Administration, and Brand Services, LLC. The Defense Agency is slated to relocate in mid November 2010.
The contract reflects the tenant’s need for a more efficient, better value office space in the Southeast Houston real estate market. Don Dennis, Senior Vice President for Panattoni’s Texas operation, commented, “We are pleased at how well the market has received our Featherwood office project. It has attracted premium tenants seeking a quality work environment and exceptional value.”
Marshall Clinkscales and Jay Kyle of Colliers negotiated on behalf of Panattoni. CB Richard Ellis represented the U.S. Federal Government. Powers Brown is the architect. Arch-Con Construction is the general contractor. Amegy Bank is providing financing.
Panattoni Development Company (PDC) is a privately held, full service development company founded in 1986. During the last five years, the firm has completed 75 million square feet of space worldwide. PDC has developed industrial, office and retail facilities in more than 200 markets. The firm is headquartered in Sacramento, California, and maintains offices throughout the United States, Canada and Europe.