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HOUSTON – Independent oil and gas exploration and production company, Mosbacher Energy Company, has renewed their lease for 23,788 square feet of office space in the historical JPMorgan Chase Building in downtown Houston. The company has been a tenant in the space for approximately twenty years.
“We have been very pleased with the building, and we value our relationship with JPMorgan Chase,” said Rob Mosbacher, president and chief executive of Mosbacher Energy Company. “We also believe in Downtown Houston and its continuing status as the energy capital of the US.”
PM Realty Group, one of the nation’s leading full-service commercial real estate firms also with its corporate headquarters in downtown Houston, is the exclusive leasing agent for the 35-story, high-rise office building. In the transaction, John Spafford, vice president of PM Realty Group represented the landlord, JPMorgan Chase, while Edward Prejean and Steve Burkett of The Staubach Company negotiated on behalf of Mosbacher Energy Company.
“Mosbacher Energy is clearly a valued tenant in our building,” said Mike Ballases, Houston chairman of JPMorgan Chase. “We are pleased that this premier energy company has renewed its lease and recognizes the benefits of this prime location in Houston’s central business district.”
Despite a vacancy level of just under 20 percent, downtown Houston appears poised for a recovery. Several law firms have recently expanded into over 70,000 of addition square feet downtown and there is considerable leasing activity in the marketplace.
“Mosbacher’s lease renewal is great for downtown Houston,” said John Spafford, vice president of PM Realty Group. “Clearly, this was an important tenant to retain, but we are pleased with the overall activity we are seeing downtown.” | 
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