(HOUSTON) – Hines, the property and leasing manager for Phoenix Tower in Houston, on behalf of building owner FSP Phoenix Tower Limited Partnership (“FSPLP”), announced today that Permian Mud Service, Inc. has expanded its lease by 17,144 square feet in Phoenix Tower, bringing its total leased premises to 94,798 square feet.
Phoenix Tower is a recently renovated, 34-story, 629,000-square-foot office tower located at 3200 Southwest Freeway.
The oilfield service company was represented in the lease expansion by Rob Neblett of Newmark Knight Frank.
Tyler Garrett with Hines represented FSPLP.
All of the equity interests in FSPLP are owned, directly and indirectly, by FSP Phoenix Tower Corp. (“Phoenix Tower Corp.”), a corporation sponsored by Franklin Street Properties Corp. (“FSP”) (NYSE Amex: FSP).
Phoenix Tower Corp. is a Delaware corporation formed to purchase, own, operate, improve and reposition Phoenix Tower in the marketplace.
Phoenix Tower Corp. is a public reporting company and all of its filings with the United States Securities and Exchange Commission are available at www.sec.gov.
Phoenix Tower is not owned by FSP.
FSP and its affiliates own and operate approximately 1.5 million square feet of Class A office space in greater Houston, including The Offices at Park 10, Energy Tower I, and Eldridge Green (CITGO’s corporate headquarters).
FSP, based in Wakefield, Massachusetts, is focused on achieving current income and long-term growth through investments in commercial properties.
FSP operates in two business segments: real estate operations and investment banking/investment services.
The majority of FSP’s property portfolio is suburban office buildings, with select investments in certain central business district properties.
FSP’s subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer.
FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes.
To learn more about FSP please visit its website at www.franklinstreetproperties.com.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,126 properties representing more than 459 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 106 cities in 17 countries, and controlled assets valued at approximately $23.7 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.