ConocoPhillips to Lease 850,000 SF in Energy Corridor Campus

 

By OLIVIA PULSINELLI

HOUSTON – ConocoPhillips (NYSE: COP) has signed an 850,000-square-foot lease for Energy Center Three and Energy Center Four, Dallas-based Trammell Crow Co. and Principal Real Estate Investors confirmed Tuesday.

The Houston-based exploration and production company is leasing the entire 550,000-square-foot Energy Center Three, as well as 300,000 square feet in Energy Center Four.

ConocoPhillips is expected to move into the 20-story Energy Center Three, which broke ground in December, by the second quarter of 2015. Energy Center Four is expected to break ground in the fourth quarter this year, with ConocoPhillips moving into the 22-story, 600,000-square-foot tower in the second quarter of 2016.

The Energy Center towers will be home to ConocoPhillips’ lower-48 business unit employees, which will relocate from other space in the Energy Corridor, spokesman Daren Beaudo told the Houston Business Journal. ConocoPhillips will continue to maintain its main campus at 600 N. Dairy Ashford, which has more than 1 million square feet, Beaudo said.

The move will help the company centralize its lower-48 operations and allow ConocoPhillips to “continue to make our mark on Houston’s Energy Corridor,” Beaudo said.

The Class AA towers, at the southwest corner of Interstate 10 and North Eldridge Parkway, are targeting LEED Gold certification.

Dallas-based Balfour Beatty Construction is the general contractor, and Houston-based Kirksey Architecture is the lead designer. Trammell Crow and Principal Real Estate Investors, the real estate group of Des Moines, Iowa-based Principal Global Investors, are developing the towers.

Aaron Thielhorn, Kevin Schmok, and Brandon Houston with Trammell Crow and Joe Wanninger with Principal Real Estate Investors will lead the development team. Executive Vice President Cody Armbrister and Senior Vice President Steve Rocher with CBRE’s Houston office represented the joint venture in the transaction.

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