Transwestern on Monday announced it has negotiated a 10-year lease agreement for 115,000 square feet of office space in Houston’s Galleria submarket.
The tenant, Chicago Bridge & Iron Co. N.V., an engineering and construction company that serves the oil and gas, and metals and wastewater industries, said it will house approximately 450 employees at Two Riverway, a 370,000-square-foot office property.
Coventry Investment Group Inc. owns the property, which was built in 1981, and recently completed a substantial renovation program to return the asset to class A status, according to a press statement.
The Galleria/Riverway submarkets have experienced six consecutive quarters of positive leasing absorption, according to the statement, and strong demand has reduced contiguous blocks of space exceeding 50,000 square feet to just three properties.
Transwestern is a privately held commercial real estate firm operating nationwide.