Real Estate Market Data

Jeff, Gerry -

Below is data on Houston's office lease market which you may find of
interest. The alternate to a "new" suburban lease is space Enron controls in
Three Allen Center, levels 38 and 39. Our term runs through Dec. of '05,
with options to extend.

I will call to set a meeting and we can explore all options. Thanks - Bill

---------------------- Forwarded by Bill Donovan/EPSC/HOU/ECT on 05/23/2000
08:06 AM ---------------------------

Lance McCarthy
05/22/2000 03:00 PM
To: Bill Donovan/EPSC/HOU/ECT@ECT
cc:
Subject: Real Estate Market Data

Bill-

The following is information of the EOTT transaction as well as general
market data on class "A" space in some of the Houston suburban markets:

EOTT:

Building: One Briarlake Plaza
2000 West Sam Houston Parkway

Premises: 67,500 Rentable Square Feet

Annual Rate: Yrs 1-2 $24.00 PRSF
Yr 3 $24.50 PRSF
Yr 4 $25.00 PRSF
Yr 5 $25.50 PRSF
Yr 6 $26.00 PRSF

TI Allowance: $27.00 (This space was in shell condition upon delivery.)

Downtown Market: $25-$29 Rents with $10-$15 TI on a 5 year term - 3% vacancy

Greenway: $21-$25 Rents with $10-$15 TI on a 5 year term - 7% vacancy

Galleria: $22-$27 Rents with a $10-$20 TI on a 5 year term - 6% vacancy

Westchase: $23-$29 Rents with a $10-$15 TI on a 5 year term - 15% vacancy

Greenspoint: $22-$29 Rents with a $12-$17 TI on a 5 year term - 4% vacancy

Please do not hesitate to contact me with any questions.