Oil Field Services Co. Leases Entire 3-Year-Old Energy Corridor Building

 

By OLIVIA PULSINELLI

Update: After this story published, sources with knowledge of the deal confirmed to the Houston Business Journal that Transocean is the tenant. Click here to read more.

The original story appears below.

HOUSTON – An Energy Corridor building completed a few years ago finally has its inaugural tenant.

A major oil field services provider leased the 300,000-square-foot Enclave Place building at 1414 Enclave Parkway for 17 years, according to an Oct. 10 press release from Atlanta-based Piedmont Office Realty Trust Inc. (NYSE: PDM), which owns the building.

David Bale and Louie Crapitto of JLL represented the undisclosed tenant, and Piedmont was represented by Damon Thames and Connor Saxe of Colvill Office Properties plus Damian Miller, Piedmont’s Southwest Region senior vice president.

“We are thrilled that Enclave Place has been chosen as the site for a new U.S. headquarters facility, and we look forward to welcoming the building’s inaugural tenant when the lease commences next July,” Joe Pangburn, Piedmont’s Southwest Region executive vice president, said in the release.

Piedmont purchased the property in Houston’s Energy Corridor in 2000 and previously developed 1430 Enclave Parkway on part of it, the Houston Business Journal previously reported. Enclave Place broke ground in spring 2014 and was completed in 2015. The 300,000-square-foot, 11-story Class A office building is on a 4.7-acre site in the Enclave Business Park, a deed-restricted and architecturally controlled corporate business area. Houston’s Tellepsen Builders was the general contractor, San Francisco-based Gensler designed the building, and Houston-based PM Realty Group — which was recently acquired by Washington, D.C.-based Madison Marquette — served as the project manager. Colvill handles leasing.

Meanwhile, Schlumberger Technology Corp. — part of oil field services giant Schlumberger Ltd. (NYSE: SLB) — recently executed a renewal and expansion for about 226,000 square feet in Piedmont’s 1430 Enclave Parkway building. That lease lasts for 10 years through 2028. Damon Thames and Connor Saxe with Colvill Office Properties represented Piedmont, and Kevin Saxe with CBRE represented Schlumberger.

Around the beginning of 2013, Schlumberger also expanded its footprint at the nearby 1200 Enclave Parkway building, which Piedmont bought in 2011. In May 2013, Piedmont sold 1200 Enclave Parkway for $48.75 million, or $326 per square foot, to California-based The Griffin Capital Corp. At the time, Schlumberger occupied the entire 149,683-square-foot building. Schlumberger has principal offices in Houston, Paris, London and The Hague.

For the complete article, please go to:
https://www.bizjournals.com/houston/news/2018/10/12/oil-field-services-co-leases-entire-3-year-old.html