Lexington Realty Trust Signs 21 KSF Tenant in Houston

The tenant, a home construction firm, will occupy the first floor of the REIT’s 155,000-square-foot office building in the Energy Corridor submarket.
Park 10 Centre

Home construction firm PulteGroup has signed a lease with Lexington Realty Trust to occupy 20,978 square feet of office space on the first floor of Park 10 Centre, a 155,040-square-foot asset in Houston. Following the lease, the building has a vacancy rate of 52.7 percent, according to Yardi Matrix.

Lexington Realty Trust acquired the property from Wells Real Estate as part of a $786 million, 5 million-square-foot portfolio transaction back in 2005.

Located at 1311 Broadfield Blvd., the six-story property is positioned in Houston’s Energy Corridor submarket, 20 miles west of the city’s downtown. Just north of Interstate 10, the building is near a couple of hotels and a number of industrial and office assets.

Built in 1999, the property is home to one other tenant, Saipem, which occupies 54,059 square feet on the fifth and sixth floors, per Yardi Matrix data. The building’s amenities include a fitness center, structured parking at a ratio of 3.5 spaces per 1,000 square feet, a conference center and common area Wi-Fi. 

JLL’s Chrissy Wilson and John Pruitt represented the landlord in the lease transaction, with CBRE’s Doug Elliott acting on behalf of PulteGroup. In October, Skanska signed BP to occupy roughly 91,000 square feet at one of the firm’s assets three miles east of Park 10 Centre.

Image courtesy of Yardi Matrix