Energy E&P Firm Office Sublease

An independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in Texas and Louisiana, occupied a partial floor in the Hughes Landing procent in The Woodlands, TX. When their business shifted, they selected our founder, Nick Terry, to quickly get their occupancy costs off their books. During a period of unprecedented economic hardship during COVID-19 lockdowns and global oil pricing wars, Rifle Real Estate Company was able to procure a quality subtenant within 30 days with minimal concessions from the Sublessor.

Objective Outcomes

• Rifle quickly procured quality subtenant for +/- 5,500sf Class A office within 30 days of engagement (competing submarket inventory had sat for 4-6 months)
• Sublessor granted minimal concessions, yet entered into sublease agreement with immediate commencement, creating instant cashflow stream
• Due to good rapport with Landlord’s representatives, deal was quickly approved with Landlord’s consent – allowing all parties to meet estimated commencement date