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Colvill Office Properties created as real estate firm specializing in Landlord representation; takes on 1.8 million square foot portfolio including First City Tower and BriarLake Plaza
Houston, Texas - January 21, 2002
Colvill Office Properties, L.P. has been formed by Houston real estate industry veteran Chip Colvill, specializing in Landlord Representation. Colvill has developed extensive expertise in commercial office building leasing in Houston, Texas over the past 16 years representing owners
of major institutional office property.
Colvill has extensive experience in the Houston real estate market, having completed over 3 million square feet of lease transactions in directing leasing and marketing for a 14.6 million square foot portfolio owned by various major institutional owners. Colvill was recently honored and recognized in 1999 by the Houston Office Leasing
Brokers Association as the Office Building Owner’s Representative
of the Year.
Colvill most recently directed all leasing and marketing activities for Tishman Speyer in the Southwest Region. In past years, Colvill directed leasing for a 4 million square foot portfolio (First City Tower and Houston Center) of behalf of JMB Realty Corporation and First City Bancorporation and directed leasing for a 6 million square foot portfolio (Allen Center and Cullen Center) on behalf of TrizecHahn Office Properties, all located in the Central Business District of Houston.
Colvill Office Properties has been chosen to direct the leasing and marketing for First City Tower, a 1,333,312 square foot office tower located in the Central Business District in Houston. Major tenants in the building include Vinson & Elkins, Ocean Energy, and Waste Management. Colvill will also be directing leasing for BriarLake Plaza, a 500,000 square foot office tower located in the Westchase District. Major tenants in the building include Microsoft, EOTT Energy, Halliburton, Unum Provident, Dain Rauscher, and Dow Jones.
According to Colvill, “Colvill Office Properties has been formed as a
firm specializing solely in representing landlords owning Class A
office buildings in Houston.” Colvill adds, “I have been a landlord representative for many years and will focus only on this sector of
the business. I plan to engage the knowledge and abilities I have acquired over the years to represent office properties of top national
institutional owners.”
Colvill previously represented First City Tower from 1990 to 1997 so taking over the leasing of the property is a “coming home” of sorts. While directing leasing of First City Tower, Colvill negotiated a 434,000 square foot lease with Vinson & Elkins, a 150,000 square foot lease with Ocean Energy (formerly Seagull Energy), and an 85,000 square foot lease with Louisiana Land & Exploration Company. Colvill consistently maintained the occupancy of First City Tower in excess of 95%. At Houston Center, Colvill directed leasing to increase the occupancy percentage of the 3 million square foot complex from 80% to 95%, negotiating such leases as Torch Energy Advisors (130,000 square feet), Merrill Lynch & Company (75,000 square feet), and Beck, Redden & Secrest (50,000 square feet). At Allen Center, Colvill directed leasing to increase the occupancy of the 3 million square foot complex from 78% to 96%. Colvill negotiated major leases at Allen Center including KN Energy (125,000 square feet), Enron Corporation (125,000 square feet), and Equiva Energy (85,000 square feet). In directing leasing of BriarLake Plaza, Colvill negotiated over 400,000 square feet of new leases with many high profile new tenants, including Microsoft Corporation (32,000 square feet), Enron (65,000 square feet), Petrocosm Marketplace (a joint venture of Chevron/Arriba for 68,000 square feet), and Halliburton (formerly Magic Earth) for 30,000 square feet; over 300,000 square feet of these leases were secured in year 2000, which represented 8% of the overall city of Houston Class “A” absorption for that year. |