Blue Cross Blue Shield plans to move into its new Houston office in mid-2025 after signing the market's largest office lease by rentable square footage last year.
The subsidiary of Health Care Service Corp. committed to about 133,000 square feet at 8101 W. Sam Houston Parkway S in Southwest Houston after an exhaustive search.
Brokers involved with the lease for the healthcare benefits provider dealt with challenges like negotiating a buyout with the building's existing tenant.
The deal has been selected as the winner of the 2025 CoStar Impact Award for lease of the year in Houston, as judged by a local team of real estate professionals familiar with the market.
About the deal: The building was developed in 1999, sitting on almost 11 acres. The property last sold in 2003 for $17.5 million.
What the judges said: "Leasing is about creating value, when you can do that with an A paper tenant, that is a win-win," said Kris Bender, real estate director for Realty 1 Partners.
They made it happen: JLL's Paul Frazier and Jack Russo represented the landlord. Cushman & Wakefield's Chad Beck, David Guion, Michael Sessa and Dan Maslauski represented the tenant.