NAIOP Houston recognized Mark O’Donnell, David Providenti and Kelly Givens with Studley as the 2013 Office Deal of the Year during the 2013 Annual Broker of the Year Awards on February 19th at River Oaks Country Club. Honoring Houston’s most respected and successful commercial real estate brokers and firms, the awards recognize professionalism, community involvement, and total value of real estate transactions with an emphasis on local tenant representation lease transactions.
Studley was honored for its office lease transaction of 581,000 square feet, for tenant, major global E&P player, Statoil Gulf Services at CityWestPlace in Houston, TX. Beginning with initial occupancy in mid-2015, Statoil will over time occupy the entirety of CityWestPlace Building 2, comprising 431,000 square feet, as well as extend their existing lease for 150,000 square feet in CityWestPlace Building 4. Statoil is significantly growing its presence at CityWestPlace from its current occupancy of 225,000 square feet.
CityWestPlace was designed by Keating Mann Jernigan Rottet/DMJM and delivered in phases from 1993 to 2001. With finely detailed modern architecture of glass, aluminum, white cement precast and Indiana gray limestone, each of the four office buildings is either LEED-certified or pending, as part of TPGI’s award-winning sustainability program. A landmark in self-contained suburban office environments, the campus features a wide array of amenities.
Studley managed to successfully navigate through all of the complexities of the lease agreement – including multiple buildings and lenders, restrictive covenants, necessity for room for growth and enhanced brand awareness – to facilitate a top-notch, strategic and comprehensive solution that exceeded Statoil’s expectations and goals. “The multiple intricacies of this transaction made it unique and we are elated that NAIOP recognized this,” says O’Donnell.
“The transaction will positively impact the Houston community with the emergence of over 1,000 new jobs over time.” “This award is recognized throughout the industry as a pinnacle achievement for real estate professionals. For twenty-six years, NAIOP Houston has selected top tier brokers for this honor so that the real estate community could express its appreciation for their contributions to the office and industrial sectors, as well as the greater Houston community at large,” states Edward Griffin, President of NAIOP Houston.