Purvin & Gertz Renews Lease on Houston Headquarters
Firm Moved to Building in 1982 with 8,000-SF Lease
Houston, TX (April 1, 2010)
Purvin & Gertz, Inc., an independent energy industry consultancy, has exercised its renewal option on its headquarters space at JPMorgan Chase Tower at 600 Travis Street in downtown Houston, signing a lease for 19,412 square feet.
This renewal is in keeping with the theme of the company’s 23rd Annual International LPG Seminar, “Fueling our Future with LPG,” as Purvin & Gertz fuels its own future with its headquarters renewal.
The company was one of the original tenants of JPMorgan Chase Tower, previously named Texas Commerce Tower, a 75-story Class A office building developed by Gerald Hines in 1982.
Kevin Hodges, senior managing director with Studley, represented Purvin & Gertz in the transaction. He has represented the firm in Houston for the more than 15 years.
According to Hodges, Purvin & Gertz will perform some cosmetic improvements to the space. Randall Walker and Cathy Hunter with Kirksey Architecture have been retained to design these improvements
Although the firm considered other CBD buildings, after extensive negotiations with the landlord, JPMorgan Chase Tower was chosen as the most suitable building for its Houston headquarters space.
According to Allison Knight with Hines, leasing agent for JPMorgan Chase Tower, the building’s ownership was very pleased to retain Purvin and Gertz’s tenancy.
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 1,111 properties representing more than 451 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 more than 100 cities in 17 countries, and controlled assets valued at approximately $22.2 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.
About Purvin & Gertz
Purvin & Gertz was founded in 1947 to provide consulting services which include business analysis, strategic planning, merger and acquisition assistance and third-party services including independent engineering services for project finance, business and facility valuations, litigation and insurance support. The company is an independent, employee-owned firm with a world-wide consulting staff consisting primarily of chemical engineers with an average of 20 years of individual experience in the technical and commercial areas of the industries they serve.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.