August 3, 2020
Decode, a Houston-based advertising agency, leased a 13,006-square-foot office at M-K-T in The Heights, bringing the office portion of the project to more than 50-percent leased.
The 200,000-square-foot development, which converted a collection of industrial buildings into retail and offices along the Heights hike and bike trail, is a joint venture of Triten Real Estate Partners, Radom Capital and Long Wharf Capital. The project is at 600 N. Shepherd Drive, just north of White Oak Bayou.
“As an advertising agency who lives, eats and breathes wellness, it was very important that we find a space that allowed us to work together in an environment that embodied our wellness values,” Decode Founder and CEO Kathleen Perley said in an announcement. “M-K-T was the perfect spot with access to the Heights Hike & Bike Trail, healthy restaurants and outdoor lounge areas. We also believe this new unique space will allow us to recruit top talent from NYC, L.A. and Chicago and put Houston on the map as an ad town.”
The digital marketing company, which is relocating from 3815 Montrose Blvd., will join office tenants Miller Grossbard Advisors, Smart Vault and XCL Resources.
“We are ecstatic to announce that Decode, the acclaimed hometown digital marketing firm, has selected M-K-T as its future home,” said Scott Arnoldy, Managing Partner, Triten Real Estate Partners. “Decode represents the next generation of Houston businesses; a prestigious advertising company with national recognition and a commitment to maintaining exceptional company culture.”
Russell Hodges, Bubba Harkins, and Jenny Mueller of JLL are leasing M-K-T’s office space on behalf of the joint venture. Joe Rambin with Cushman & Wakefield represented Decode Digital.
The deal comes as Houston's office market reached a vacancy rate of 23.1 percent in the second quarter as demand softened further as a result of the coronavirus pandemic, according to JLL.
“M-K-T continues to see a disproportionate share of office demand due to the many unique attributes of this exciting offering,” JLL Managing Director Russell Hodges said in an announcement. “The activity is a clear indicator of more office users really putting their people first; leveraging their real estate by providing more desirable experiences to their employees on a daily basis. The M-K-T is about lifestyle, and companies like Decode immediately recognize this as an environment where innovation and productivity will thrive.”
Miller Grossbard Advisors, the project's first tenant, took occupancy in July. Additional office tenants are expected to move in during the third quarter, while retailers will begin opening in the fourth quarter. Retail tenants include Anjouil’s, Burdlife, Pedego Electric Bikes, Da Gama Canteen, Mendocino Farms, Heights Icehouse, Elite Meals, Homestead Kitchen & Bar, Honeychild’s Sweet Cream, Treadwell, Huemn and Union Studio Yoga.