JLL today announced the firm completed a 37,715-square-foot industrial lease for INOVA Geophysical, a seismic acquisition equipment and systems provider. The Houston-based company relocated their headquarters from 12200 Parc Crest Drive in Stafford, Texas, to 13000 Executive Drive in the Houston suburb of Sugar Land.
JLL’s David Buescher and Jeff Venghaus negotiated the terms on behalf of the tenant. Ryan Wasaff of the Welcome Group represented the landlord.
“INOVA selected 13000 Executive Drive because it fit both the operational and cultural needs of the company. The building’s existing improvements closely matched what INOVA needed, which allowed for a quick transition from their previous facility,” said Buescher. “Moving only a few miles away from their former location meant there was minimal disruption for their employees.”
Built in 1995, 13000 Executive Drive is an approximately 54,000-square-foot flex building, comprised of 42,000 square feet of office space and 12,000 square feet of warehouse space. Features include 15-ton crane capability, 24-foot clear heights and air conditioned warehouse space.
At the northwest corner of U.S. Highway 59 and ALT-90, the building has direct highway visibility and is situated with prime access to the growing southwest submarket.
According to JLL research, the southwest industrial submarket has seen a steady stream of activity from both flex and rear-load users. Vacancy in the submarket remained stable at just 4.8 percent in the second quarter of 2017.
Formed in 2010 as a joint venture between BGP Inc. and ION Geophysical Corporation, INOVA has additional offices in China, Canada, Russia, the U.K. and the United Arab Emirates.
The move was completed on 1 July 2017.