Lee & Associates – Houston Arranges Office Sublease for Prominent Manufacturing and Distribution Firm in West Houston
OCTOBER 03, 2017 (HOUSTON) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, represented T.F. Hudgins, Inc in a 14,861-square-foot office sublease at Sam Houston Crossing II, located at 10344 Sam Houston Park Drive in Houston.
T.F. Hudgins, Inc has experienced substantial growth over the last few years through several acquisitions, which has resulted in the company inheriting scattered facilities throughout Houston and Tomball. In an effort to consolidate all facilities into one cohesive location, T.F. Hudgins elected to capitalize on the softened conditions of the office market by exploring sublease options in West Houston.
“The facility requirements of T.F. Hudgins aligned extremely well with the surplus of sublease space available in Houston,” said Chris Nash, associate at Lee & Associates – Houston. “Subleases provide flexibility and discounted economics to subtenants. This particular space was Plug and Play and ready for immediate occupancy. There is value in that, which T.F. Hudgins recognized.”
The new facility provided T.F. Hudgins with a high caliber buildout in addition to a healthy amount of remaining term. The location of the building will provide easy access to Beltway 8 and surrounding thoroughfares, which will help reduce commute time for many staff members as well as clientele visiting the office.
“Working with the Lee & Associates team, in particular, Chris and Patrick, was a real pleasure,” said Jay Burnette, President and CEO of T.F. Hudgins, Inc. “We had a fairly challenging list of requirements, especially with timing. Not only did Chris and Patrick find us the perfect location, they helped us navigate the process efficiently so that we could finalize the agreements in time for our move.”
West Houston and CBD account for the majority of available sublease space on the market. “Subleases with less than two years of remaining term can be labeled by most users as obsolete, specifically those looking for long-term solutions,” said Nash.
Founded in 1947, T.F. Hudgins is a reliability-centered manufacturer, distributor and service provider operating in a variety of industrial processing, oil & gas and petrochemical end-markets. Following the merger of Allied Reliability Group in 2016, the company delivers best-in-industry operational reliability solutions that improve equipment effectiveness and reduce operating costs. The company has 380 employees.
Chris Nash and Patrick Wolford, SIOR, CCIM of Lee & Associates – Houston represented the subtenant, and Hugh Herman of Cushman & Wakefield represented the sublandlord, First American Title.
About Lee & Associates – Houston
Lee & Associates – Houston is a fully-integrated commercial real estate company with unrivaled capabilities and an unwavering dedication to integrity. Our business-minded brokers specialize in office, industrial and land real estate investments. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, we are uniquely qualified to support our clients’ real estate needs in the local, national and international markets. For more information, visit www.lee-associates.com/houston/.