New tenants rise higher in El PasoNew tenants rise higher in El Pasohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=66472013-08-07T07:44:00Z2013-08-07T00:00:00Z

EL PASO - The city's two largest office buildings are filling up, showing the Downtown office market is improving.

Several companies have leased space recently in the 21-story Wells Fargo Plaza and 18-story Chase Tower.

"Leasing activity in Downtown El Paso has accelerated significantly in 2013," reported Jamie Gallagher, senior vice president of the Borderplex Community Trust which owns the two office skyscrapers.

"This recovery comes after Downtown (office) occupancy was negatively impacted" by Chase and Wells Fargo reducing their banking operations in the two buildings in the last two years, Gallagher said.

The Wells Fargo building is now at 82 percent occupancy, and the Chase building at 78 percent occupancy.

A new Wells Fargo building tenant is Regus, a Europe-based operator of work spaces for professionals and businesses around the world. This week, it opened an 11,700-sf business center on the entire seventh floor of the Wells Fargo building.

Other new tenants in the Wells Fargo building are the El Paso Hospitalist Group with 2,500 sf of space, and Texas Gas Service with 1,500 sf.

In the Chase building, the Biomedical Institute of the Americas has taken 4,800 sf, and Strategic Growth Bank, a growing regional banking company based in El Paso, has added another 13,600 sf of space — making it the largest Chase tenant.

The renovated Mills Building, another large office building, construction of a new baseball stadium and other construction projects are making Downtown more attractive for companies, Christian Perez Giese, director of the El Paso office of CBRE Group, said.

El Paso Times
El Paso
http://www.elpasotimes.com/business/ci_23801727/el-paso-skyscrapers-new-tenants-show-downtown-officeRead more at {Source}

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