Smaller Subleases Fill Heritage Plaza’s 165K-SF Vacancy
In 2015, Rosetta Resources left approximately 165,000 square feet vacant at Heritage Plaza in Houston. Rosetta Resources had been acquired by Noble Energy, which relocated employees. A little more than a year later, the sublet space at 1111 Bagby is filled with five smaller tenants. CBRE’s Lucian Bukowski, Kevin Kushner and Wyatt McCulloch represented Noble Energy, the sublettor, in the deals.
McCulloch told Connect Media that the tenants include a law firm, a liquid storage and transportation company, as well as companies involved in the energy business. “Subleases can move quickly or slowly. It depends entirely on the circumstances of each transaction,” he added. “Occasionally, the building landlord will need to get involved with a sublease transaction, which can slow things down because there are now three parties, instead of two.”
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