Leasing Activity on the Rise in The Energy Corridor as Companies Seize Opportunities
The Energy Corridor and environs have seen a sizable uptick in leasing activity in the past few months. Several companies have chosen to expand their current footprint in The Corridor, while others have moved from locations within or adjacent to Loop 610. A recent article in the Houston Business Journal noted that the relocation trend was driven by the desire to reduce commute times for employees as well as the high level of amenities in the area – including excellent schools, affordable homes and a multitude of quality of life features.
Here is a summary of just seven of the more significant new leases in The Energy Corridor area. This list does not include the largest anticipated new user in the Energy Corridor – Occidental Petroleum. Occidental is expected to close shortly on its acquisition of an expansive 62-acre campus formerly owned by ConocoPhillips, which includes about 1.4 million-square-feet of space. The following are examples of other major lease activity in The Corridor:
Transocean Ltd.
Transocean Ltd., a Switzerland-based offshore drilling company, leased 300,000 square feet of office space at Enclave Place, located at 1414 Enclave Parkway, north of Briar Forest Drive.
Schlumberger Technology Corporation
Schlumberger Technology Corporation signed a 10-year lease renewal and expansion for 226,000 square feet at 1430 Enclave Parkway.
BP
London-based BP leased 91,000 square feet in West Memorial Place II at 15375 Memorial Drive for its Lower 48 division. BP’s space includes 5,500 square feet on the ground floor that will be developed with amenities including a patio overlooking Terry Hershey Park.
GHD
GHD, a global engineering, architectural and environmental services firm, has leased a full floor at 11451 Katy Freeway, located just east of North Kirkwood. With GHD’s leasing of 20,986 square feet, the building is now 96 percent leased.
PulteGroup
PulteGroup is upgrading its office space, relocating to newer, Class A offices at 1311 Broadfield Boulevard in Park Ten. The national homebuilder leased 20,978 square feet and will occupy the first floor.
UBS Wealth Management USA
UBS Wealth Management USA will relocate its offices in March from the Galleria area to Town Centre One at 750 Town and Country Blvd. near the Energy Corridor. The company will occupy 19,000 square feet on the fourth floor of Town Centre One building, which is in the 4.6-acre Town Centre complex.
Wolff Companies’ Central Park, a 78-acre mixed-use development, is strategically located in the heart of The Energy Corridor, home to more than 300 multinational companies. Central Park is ideal for corporate office, high-density residential, institutional, hospitality and retail. As the future home of MD Anderson Cancer Center’s $169-million, 216,000-square-foot diagnostic and treatment center opening early next year, Central Park is also attractive for healthcare/medical facilities.
For more information about Wolff Companies, please visit www.wolffcompanies.com or call Carolyn Wolff Dorros at 713-626-8050.
Thank you,
Carolyn W. Dorros
Executive Vice President
Wolff Companies
Phone: 713-626-8050
cwd@wolffcompanies.com