KBS Realty Advisors recently announced it signed Alliance Wood Group Engineering to a 110,480-square-foot lease in Houston, Texas.
The value of the transaction was not disclosed.
Alliance Wood Group said that with this lease it is consolidating three locations into one to reduce its real estate costs. The firm will be moving from its current headquarters at 16340 Park Ten, 16420 Park Ten and 1311 Broadfield to four floors at 330 Barker Cypress, a.k.a. Parkview One, beginning in March 2007.
“The continued strength of the energy industry has been pushing us to expand,” said Norb Roobaert, president of Alliance Wood Group. “This move allows us to do something we had thought impossible to accomplish in the near term — consolidate all of our Houston operations under one roof, allowing us to grow efficiently while managing real estate costs.”
To facilitate the firm’s real estate strategy, KBS Realty, also the landlord of Alliance Wood Group’s previous headquarters, terminated the firm’s lease at 16340 Park Ten to allow for the new lease.
Alliance Wood Group’s sublease with Transocean at 1311 Broadfield will be partially sublet to another branch of its parent company, The Wood Group, and the remaining space will be reclaimed by sublessor Transocean. The lease on the 16420 Park Ten location will expire in February 2007.
