(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 StarTex Power has expanded their lease space in the building by 9,922 square feet, bringing their total leased space on the premises to 20,038 square feet.
Phoenix Tower is a 34-story, 629,000-square-foot office tower located at 3200 Southwest Freeway:
The retail electricity provider was represented in lease negotiations by Randy Wilhelm and Mary Dadura of NAI Houston.
Hines Director of Leasing Paula Bruns represented the building owner, FSPLP.
All of the equity interests in FSPLP are owned, directly and indirectly, by FSP Phoenix Tower Corp.
(“Phoenix Tower Corp.”), a real estate investment trust 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 Ten, 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 Web site 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 more than 1,100 properties representing approximately 454 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 100 cities and 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.