Colliers is pleased to announce that Percheron Holdings has completed a 28,597 square foot office lease extension for its headquarters at 1904 Grand Parkway North in Katy, Texas. Chris Nash of Colliers and Jeremy Hunt of Hunt’s Real Estate represented the tenant in the transaction. Parker Burkett and Eric Anderson with Transwestern represented the landlord, InSite.
“The Katy office market continues to be competitive for corporate users of office space, offering limited options to larger occupiers with a growing workforce such as Percheron,” said Chris Nash, Senior Vice President of Colliers. “Our team uncovered a handful of Build to Suit (BTS) opportunities in addition to existing buildings that could accommodate current and anticipated growth needs. After in-depth financial analysis and workplace strategy exercises, it was determined that remaining in place at Grandway West was the ideal occupancy solution for Percheron. We were pleased to work alongside such an incredible organization and leadership team and are excited about the continued tenancy of Percheron in the Grandway West project as well as the Katy community.”
Percheron is a national, fully integrated professional services company executing electrical transmission, utility, oil and gas, wind, solar and highway infrastructure projects by bundling engineering, land surveying, environmental, title research and real estate into one cohesive solution.
The property is within Houston’s Katy/Grand Parkway West office submarket, which contains 2.8 million square feet of office space with a current occupancy rate of 93.2%. The submarket recorded 55,787 square feet of net absorption through the third quarter of 2023 and offers an average gross rental rate of $28.34 per square foot.
For more information, click here: Percheron | Think Integrated.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
