Triyar Realty Group has appointed Partners Real Estate—formerly known as NAI Partners—to oversee the leasing activity at River Oaks Tower, a recently renovated office building in Houston.
Built in 1984, River Oaks Tower totals more than 143,000 square feet. In 2009, the property’s owner, a family-owned business, finalized a cosmetic renovation that included upgrades to the lobby, walls and floors.
Vice Presidents Michael Sieger, Andy Parrish and Lesley Rice of Partners Real Estate’s Office Project Leasing team will lease the property. Earlier this month, the same Partners Real Estate team was tapped to manage the leasing activities at 2200 W. Loop S., a 202,999-square-foot office property in Houston’s Galleria submarket.
Located at 3730 Kirby Drive in Houston’s Greenway/Upper Kirby area, River Oaks Tower is situated north of Highway 59, some 5 miles from the city’s downtown. An array of dining and retail options are within walking distance of the property.
Manuel Gonzales, Lemon Peel Facial, Tilton & Tilton, Logo Houston and Unique Development Group are among the property’s tenants. River Oaks Tower still has 35,818 square feet of available space for lease.
According to a recent CommercialEdge report, office vacancy continues to rise at a national level. As of October 2022, Houston topped the U.S. for the highest vacancy rate among major markets, with the rate standing at 25.16 percent. Atlanta followed with a 21.08 percent vacancy rate.
On the other side of the spectrum, the South also witnesses some of the lowest vacancy rates nationwide, with Charlotte and Miami keeping the bar low at 12.50 and 12.72 percent, respectively.