CRESCO Real Estate served as the team leader of a three (3) person brokerage team in search of a new corporate headquarters located in Greater Houston. The current corporate headquarter location of Dresser-Rand Company did not portray the image the company was striving to achieve.

Approach

• Researched build-to-suit, existing purchase, inventoried lease and sublease opportunities.
• Solved challenges which included: immediate office and industrial space, an extremely competitive human resource environment and better market visibility.
• Completed property evaluation and final negotiations acting as the lead in the relocation of the Clients’ headquarters.
• Coordinated with a local Houston brokerage expert, and architectural firm familiar with the building and outside counsel to expedite the lease negotiation.

Results

• Selected an extremely visible, eleven (11) story, 270,000 square foot structure in Greater Houston offering an opportunity for exterior building signage and below market rates.
• Completed the initial lease for 45,802 square feet at below market rates and negotiated a greater improvement allowance than the market was accustomed to providing.
• Negotiated favorable options and the right to lease additional floors.
• Completed the task of obtaining exclusive naming rights on the building.