CP Group Signs 60,000 SF Lease at Five Post Oak Park in Houston Weeks After Acquiring Office Tower

HOUSTON, Texas, Aug. 23, 2021 /PRNewswire/ -- CP Group, a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States, today announced it has signed a lease with Weaver and Tidwell, L.L.P. ('Weaver') at Five Post Oak Park  in Houston, Texas.

A national CPA and advisory firm, Weaver will occupy over 60,000 square feet at the 28-story office tower in the Galleria/Uptown section of Houston. The new footprint will be a "much-needed expansion," according to Weaver, who had been previously located at Weslayan Tower in central Houston in approximately 43,000 square feet of office space. The company plans to move into their new Houston headquarters at Five Post Oak Park (5POP) by May 2022.

Under the terms of the agreement, Weaver will have exterior signage on top of Five Post Oak Park. The firm's office will span three floors, connected by an interior staircase and a number of open, collaborative spaces for its team members.

Instant Leasing Success Upon CP Group Acquisition

"We are very happy to welcome Weaver to 5POP," said Angelo Bianco, Managing Partner at CP Group. "Beyond its prime location in one of the most desirable locations in Houston, John [Mackel] and his team will be able to benefit from our redevelopment plans that will modernize the interior finishes and add amenities including a restaurant, coffee bar, and extensive tenant services."

The lease comes on the heels of CP Group's recent acquisition of Five Post Oak Park in July 2021.

Building Ideal Fit for Weaver's Best-in-Class Culture

Five Post Oak Park is situated within one of the city's most sought-after 'live-work-play' environments. It is adjacent to the St. Regis Hotel and a private park, offering quiet walking trails and mature shade trees, and a few blocks from the River Oaks District, a popular shopping, dining, and entertainment destination.

"We are excited to move Weaver's headquarters to Five Post Oak Park and how it provides our employees access to great amenities, greenspaces, and a park-like environment in the middle of the Galleria area," said John Mackel, Weaver's CEO and Manager Partner. "We selected [the building] because of CP Group's vision for the property and what is offers to our team members and clients. We're excited about the investment they are making and the fact that it allows Weaver to bring our best-in-class office vision to the Houston market."

In addition to its private park and immediate hotel access, Five Post Oak Park offers a host of amenities, including a multi-use conferencing facility and a 3,000-square-foot fitness center. CP Group's planned improvement program calls for the modernization of the building's lobby – including the addition of a new coffee shop and restaurant space.

CP Group's Recent Surge in Transactional Activity

The recent acquisition of Five Post Oak Park in July this year marks CP Group's fifth in 2021 and its third joint venture with Rialto Capital this year. In June, CP Group and Rialto Capital Management announced the acquisitions of CNN Center, the iconic tower in downtown Atlanta, and One Biscayne Tower, a 38-story office property in downtown Miami. In 2018, the joint venture also acquired Boca Raton Innovation Campus, the former IBM research and development facility that has been reinvented as the preeminent hub for technology and life sciences in the region.

CP Group, formerly known as Crocker Partners, is one of the country's premier owner-operators and developers of commercial real estate. The organization now employs nearly 200 employees and has a portfolio spanning more than 14 million square feet.

ABOUT CP GROUP

Active in the commercial real estate business for over 35 years, CP Group, formerly Crocker Partners, has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 159 properties, totaling over 50 million square feet and representing over $6 billion invested. They are currently Florida's largest and Atlanta's second-largest office landlord and rank 29th largest in the United States. Headquartered in Boca Raton, Florida, the firm has regional offices in Atlanta, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com. 

SOURCE CP Group

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