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Twenty-five new, speculative office buildings were completed in Houston in 1999. With nearly 5,000,000 SF of new space coming on-line at the same time, developers were competing for a small pool of tenants. After attempting an in-house leasing campaign, Champion Partners, the developers of The Concourse at Westway, retained CB Richard Ellis to handle the leasing and management of the building. |
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After becoming familiar with the design and systems of the building, we realized that The Concourse at Westway was ideal for full-floor tenants. The marketing campaign was structured towards direct canvassing of large tenants in the West Houston markets. By September of 1999, the first tenant had signed a letter of intent, and by June of 2000, the building was 100% leased while the remaining new buildings had achieved less than 35% occupancy. |
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