Advertising Agency Forms Partnership With Sublease Tenant
The Company of Others, an advertising agency, put 18k SF at 1800 West Loop S on the sublease market. ChaiOne, a Houston-based tech startup that builds mobile apps for businesses, already soaked up most of it, subleasing 12k SF at a roughly 60% discount, according to the Houston Business Journal. That proximity will come in handy, as the two firms are forming a partnership; ChaiOne will serve as Company of Others’ development arm.
The Company of Others hopes to sublease the remaining 6k SF to a company that will enhance its own product. The Company of Others will continue to lease 20k SF in the building and is making enhancements to the space, adding conference rooms and areas for co-creation and collaboration.
ChaiOne was originally going to build-out Schlumberger’s old HQ in East Downtown but decided to snap up the Galleria-area sublease instead. The Schlumberger property is now on the market. [HBJ]
