{"id":1004501842,"date":"2020-12-31T07:12:41","date_gmt":"2020-12-31T15:12:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004501842"},"modified":"2020-12-31T07:12:41","modified_gmt":"2020-12-31T15:12:41","slug":"cadence-bank-leases-82-ksf-at-houstons-park-towers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cadence-bank-leases-82-ksf-at-houstons-park-towers\/","title":{"rendered":"Cadence Bank Leases 82 KSF at Houston&#8217;s Park Towers"},"content":{"rendered":"<div id=\"attachment_1004501845\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/12\/Park-Towers-Houston-e1609426981156.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004501845\" data-attachment-id=\"1004501845\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cadence-bank-leases-82-ksf-at-houstons-park-towers\/park-towers-houston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/12\/Park-Towers-Houston-e1609426981156.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Park Towers, Houston\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Park Towers in Houston. Image courtesy of Transwestern&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/12\/Park-Towers-Houston-e1609426981156.jpg?w=800\" class=\"wp-image-1004501845 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/12\/Park-Towers-Houston-e1609426972619.jpg\" alt=\"\" width=\"300\" height=\"225\"><\/a><p id=\"caption-attachment-1004501845\" class=\"wp-caption-text\">Park Towers in Houston. <em>Image courtesy of Transwestern<\/em><\/p><\/div>\n<p>Regent Properties has signed Cadence Bank to 82,200 square feet at the company&#8217;s 535,200-square-foot Park Towers office property in Houston.&nbsp;<\/p>\n<p>The Cadence lease marks the second major pandemic-era commitment at Park Towers, which Regent <a href=\"https:\/\/www.commercialsearch.com\/news\/bfin-sells-office-campus-in-houston-for-90m\/\">acquired for $89.5 million<\/a> in 2019. The deal also comes five months after tax services firm <a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-inks-67-ksf-lease-in-houston-towers\/\">Ryan LLC signed on<\/a> for approximately 66,800 square feet.<\/p>\n<p>Transwestern Real Estate Services represented the landlord in the deal.<\/p>\n<p>&#8220;The Cadence Bank lease shows that there are still tenants in the market that are confident about their future and recognize the value of offering their employees a newly designed, collaborative space with an abundance of amenities,&#8221; Kelli Gault, vice president with Transwestern Real Estate Services, told <em>Commercial Property Executive<\/em>.<\/p>\n<hr>\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/southwestern-health-resources-inks-150-ksf-lease-in-texas\/\">Southwestern Health Resources Inks 150 KSF Lease in Texas<\/a><\/p>\n<hr>\n<p>Park Towers, which opened in 1972 and underwent a redevelopment in 2000 followed by a <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-to-lease-redeveloped-houston-office-towers\/\">$16 million makeover<\/a> in 2017, most recently underwent a $12.8 million capital infusion to upgrade the property&#8217;s tenant amenities.<\/p>\n<p>Cadence and its holding company, Cadence Bancorporation, will occupy three-and-a-half floors of office space in the Park Towers&#8217; building at 1333 W. Loop S., in addition to ground-level space for its retail branch.<\/p>\n<p>Transwestern&#8217;s Doug Little, David Baker and Jack Scharnberg joined Gault in providing agency leasing services on Regent&#8217;s behalf, while Weldon Martin and Jon Lee of CBRE represented the tenant in the lease transaction.<\/p>\n<h2><strong>RETURN TO OFFICE<\/strong><\/h2>\n<p>While the office sector navigates the pandemic-induced evolution of <a href=\"https:\/\/www.commercialsearch.com\/news\/taking-stock-of-offices-future\/\">remote work as an enduring factor<\/a>, some office users, like Cadence, are keying in on the value of the office-based workspace. Cadence cited the Park Towers&#8217; ability to provide employees with greater workspace flexibility and more diverse collaborative spaces as a major draw. &nbsp;<\/p>\n<p>&#8220;While there may be particular jobs that can work effectively from home, we believe that most companies still value being in a traditional office setting to promote corporate values and culture, integrate new employees, encourage collaboration and camaraderie, and facilitate the effective long-term mentoring of younger employees,&#8221; Gault said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal comes five months after tax firm Ryan signed on for more than 65,000 square feet at the office property.<\/p>\n","protected":false},"author":969,"featured_media":1004501845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1589,21742,21747],"tags":[50854,50857],"class_list":["post-1004501842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-houston","category-latest","category-office","tag-cadence-bank","tag-transwestern-real-estate-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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