Real Estate Weekly
July 31, 2023
By Sean Quintal
Accesso, a fully integrated investment manager and operator of multi-tenant office and multifamily assets, today announced it has seen significant leasing activity across its properties in Houston, having signed nearly 60,000 square feet in lease agreements during the first five months of the year. These include Atrium at Park Ten, an approximately 140,000-square-foot office property located at 16340 Park Ten Plaza; and 3900 Essex, a roughly 236,000-square-foot office tower located at 3900 Essex Lane. The agreements reflect new leases, expansions and renewals, and tenants include well-established and institutional-quality firms from the energy, telecommunications and financial sectors.
Included among the transactions is IHI Energy Solutions, a world leader in carbon reduction technologies, which signed a new, 17,816-square-foot lease to relocate its corporate headquarters to Atrium at Park Ten. Additionally, Petrofac, a leading energy services company dedicated to helping clients meet the world’s evolving energy needs, signed a 16,023-square-foot expansion of its existing space, bringing its total square footage at the property to 25,761. With these new signings, Atrium at Park Ten is now 98 percent occupied.
At 3900 Essex, new leases signed by Accesso in recent months include a 10,502-square-foot renewal for Buffalo Bayou Resources, a company advising clients on the complexities of mineral rights acquisitions; a 3,360-square-foot lease for the Houston branch of KDDI America, a national organization providing telecommunications consultation services; and a 4,334-square-foot lease for RBN Energy, an energy market analytics firm.
“In today’s challenging office market, we are thrilled to have had tremendous success leasing up our office properties in Houston,” said Michael Adams, Managing Director, Southern Region for Accesso. “We believe that as more companies determine their long-term plans for office usage, the sector will continue to adapt to accommodate evolving work preferences. Employees are returning to offices that provide corporate tenants with world-class amenities, comfort and convenience, and our leasing achievements at Atrium at Park Ten and 3900 Essex are testaments to what these assets have to offer and the quality of the investments we’ve made in our Houston portfolio. We look forward to fostering long-term partnerships with our new tenants and investing more in the city of Houston.”
Atrium at Park Ten comprises three stories and sits on a 6.18-acre lot in the heart of the Katy Freeway West/Energy Corridor submarket with proximity to I-10/Katy Freeway, Beltway 8 and Grand Parkway. The asset boasts a park-like setting and is near affluent residential neighborhoods, restaurants and retail offerings. The property’s contemporary, distinctive design and large floorplans provide a unique atmosphere as well as flexibility to accommodate tenants’ future growth.
3900 Essex is a 12-story, class-A office tower that is located in the highly-sought-after Greenway Plaza submarket, which is less than five miles from Houston’s central business district and one mile from its Galleria neighborhood. The property offers state-of-the-art fitness and conference centers and recently underwent renovations to its lobby, corridors, elevators, roof, parking garage and HVAC systems.