Thomas Properties Group Announces Morgan Keegan Lease of 24,357 Square Feet in San Felipe Plaza
HOUSTON - Thomas Properties Group, Inc. (NASDAQ:TPGI) has announced that Morgan Keegan, a nationwide, full-service brokerage and investment banking firm, has leased 24,357 square feet in San Felipe Plaza, 5847 San Felipe, Houston, for its Houston branch. Morgan Keegan will occupy the entire 43rd floor and a portion of the 41st floor of San Felipe Plaza, a Class A office building in the Galleria/Uptown submarket. The firm is relocating from 5 Post Oak Park. With this lease, San Felipe Plaza is 89 percent leased.
The Colvill Office Properties leasing team of Chip Colvill, Michael Anderson and Win Haggard Jr. represented the landlord, TPG/CalSTRS, a joint venture of Thomas Properties Group and the California State Teachers’ Retirement System. Brad Marnitz of NAI Houston represented Morgan Keegan in lease negotiations.
San Felipe Plaza is a 980,472-square-foot, 46-story landmark office building on San Felipe between Bering and Augusta. The property includes a 2,700-car parking garage and is adjacent to the residential neighborhoods of Memorial, Tanglewood and Briargrove.
The tower is the second-tallest building outside of downtown Houston, with unobstructed views in all directions. Designed by Richard Keating, the building’s exterior is punctuated by stair-stepped setbacks with a polished granite and tinted-glass facade. The three-story lobby is finished in granite, marble, and wood, with an open mezzanine on the second level. Building conveniences include full-service banking, delicatessen, sundry shop, barber/salon, dry cleaner, custom hand car wash service, and staffed FedEx. Efficient floor plates are 20,000 to 22,000 square feet. On-site property management is provided by Thomas Properties Group.
About Thomas Properties Group
Thomas Properties Group, based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment and property management and leasing activities. For more information on Thomas Properties Group, please visit www.tpgre.com.
Forward Looking Statements
Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from the company's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management’s expectations, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Factors That May Influence Future Results of Operations” in our Form 10-K for the year ended December 31, 2010, and contained in our reports on Form 10-Q for fiscal quarters during 2011, which have been filed with the SEC. Thomas Properties Group, Inc., disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
McDaniel & Co.
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Thomas Properties Group
Diana Laing, Chief Financial Officer