HOUSTON, Jan 11, 2010 (BUSINESS WIRE) -- Thomas Properties Group, Inc. (Nasdaq:TPGI) has announced a new lease
transaction with LOGIX Communications at Brookhollow Central III. LOGIX
Communications, an integrated voice and data communications company
serving over 12,000 small and mid-sized business customers in Texas and
Oklahoma, has leased 36,710 square feet in Brookhollow Central III and
is moving its headquarters offices within the building.
Currently 95 percent leased, Brookhollow Central III is a
300,616-square-foot, 12-story building in the Brookhollow Central office
campus. Brookhollow Central is a three-building, 800,000-square-foot
office campus located on a 10-acre site at Highway 290 and the Loop 610
in Northwest Houston. The office complex is 10 minutes from Downtown
Houston and the Galleria area. "More than 90,000 square feet of new and
renewal leases have been completed at Brookhollow Central in 2009 and
several additional leases are pending," says Chip Colvill, who directs
leasing for the property. "The extensive renovations, both exterior and
interior, have been a major factor in the high volume of leases this
year."
Commenting on the lease, Randy Scott, Executive Vice President of Thomas
Properties Group, said, "This transaction is an important example of the
success this building enjoys in its market, in spite of the challenging
economic situation. We are extremely pleased with the performance of
Brookhollow Central."
Brookhollow Central offers efficient floor plates, from 18,000 to 23,000
square feet. On-site amenities include auditoriums and conferencing
facilities, fitness center, delicatessen, postal and courier services,
and dry cleaning services. Adjacent to the campus is the Sheraton
Houston Brookhollow hotel with state-of-the-art conference facilities
and accommodations.
The Colvill Office Properties leasing team of Chip Colvill, Michael
Anderson and Win Haggard Jr. represented the landlord, TPG/CalSTRS, a
joint venture of Thomas Properties Group and the California State
Teachers' Retirement System. Brad Marnitz of NAI Houston represented
LOGIX Communications in lease negotiations.
About Thomas Properties Group, Inc.:
Thomas Properties Group, based in Los Angeles, is a full-service real
estate company that owns, acquires, develops and manages primarily
office, as well as mixed-use and residential properties on a nationwide
basis. The company's primary areas of focus are the acquisition and
ownership of premier properties, both on a consolidated basis and
through its strategic joint ventures, property development and
redevelopment and property management and leasing activities. For more
information on Thomas Properties Group, please visit www.tpgre.com.
Forward-Looking Statements:
Statements made in this press release that are not historical may
contain forward-looking statements. Although Thomas Properties Group
believes the expectations reflected in any forward-looking statements
are based on reasonable assumptions, these statements are subject to
numerous risks and uncertainties. Factors that could cause actual
results to differ materially from the company's expectations include
actual and perceived trends in various national and economic conditions
that affect global and regional markets for commercial real estate
services, including interest rates, the availability of credit to
finance commercial real estate transactions, and the impact of tax laws
affecting real estate. For a discussion of some of the factors that may
cause our results to differ from management's expectations, see the
information under the captions "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of Operations
- Factors That May Influence Future Results of Operations" in our Form
10-K for the year ended December 31, 2008, and contained in our reports
on Form 10-Q for fiscal quarters during 2009, which have been filed with
the SEC. Thomas Properties Group, Inc., disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
SOURCE: Thomas Properties Group, Inc.
Sara McDaniel
McDaniel & Co. for Thomas Properties Group
713/523-4441 or 800/628-6028
