H-GAC has received a request from the Texas Workforce Commission (TWC) to sublease space from H-GAC to relocate some of their regional personnel for better coordination of services with H-GAC. H-GAC, through negotiation with the landlord, DAR 3555 LLC, has identified approximately 5,578 rentable square feet (RSF) on the seventh floor at 3555 Timmons Lane that would suit the needs of the TWC. H-GAC engaged a broker, Jackson Cooksey, to perform a market analysis and negotiate terms that could be advantageous to H-GAC and TWC for the space. The broker recommended a renegotiation of H-GAC’s current lease with an extension which would include additional square footage on the seventh floor. The following are the details of H-GAC’s current lease and the proposed lease.
The forecast for continued demand of office space in the Greenway Plaza area is high and quoted rates are continuing to rise annually. Recent lease rates in the building have been in the range of $28 - $31 RSF.