Houston Business Journal
March 12, 2010 – by Jennifer Dawson
Means Knaus Partners Doubles Space And Staff For Firm
Means Knaus Partners LP more than doubled its property management portfolio with the stroke of a pen last week by entering into a joint venture deal with Lexington Realty Trust.
As a result of the deal, Houston-based Means Knaus grew from managing 8 million square feet in commercial properties to a total of 20 million square feet. The extra 12 million square feet of office space represents only a portion of New York-based Lexington’s 45.9 million square feet of properties throughout the United States.
The transaction expands the Means Knaus footprint from six to 48 U.S. cities. The company already managed eight properties in Houston, including One and Two Oak Park and 2000 West Loop South.
In addition, the number of Means Knaus employees doubled, from 70 to 140. Many of the new employees, who already work at the various properties, were formerly employed by other third-party management firms.
Joint Venture Announcement in the News
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