Tenant Revealed for Recent 300,000 SF Energy Corridor Lease: Transocean

 

By CARA SMITH

HOUSTON – Transocean Ltd. (NYSE: RIG), a Switzerland-based offshore drilling company, leased an entire Energy Corridor building that has been empty for three years.

Transocean leased the 300,000-square-foot Enclave Place building at 1414 Enclave Parkway, sources with knowledge of the deal confirmed to the Houston Business Journal. Transocean currently occupies 255,413 square feet in 4 Greenway Plaza. That space serves as its U.S. headquarters. The company renewed its Greenway Plaza lease in 2017; its lease now expires in 2023.

Transocean’s lease at Enclave Place starts in July 2019, according to a statement from Atlanta-based Piedmont Office Realty Trust Inc. (NYSE: PDM), which owns the building.

It’s unclear whether Transocean will vacate Greenway Plaza. Parkway Properties, which owns and manages Greenway Plaza, couldn’t immediately be reached for comment.

Piedmont developed Enclave Place in 2015. In an announcement that the building had been leased to an undisclosed tenant, Joe Pangburn, Piedmont’s Southwest Region executive vice president, said the building would serve as the tenant’s new U.S. headquarters facility.

Transocean and Piedmont didn’t return requests for comment.

David Bale and Louie Crapitto of JLL represented Transocean, and Piedmont was represented by Damon Thames and Connor Saxe of Colvill Office Properties plus Damian Miller, Piedmont’s Southwest Region senior vice president. JLL and Colvill couldn’t immediately be reached for comment.

The 11-story Class A office building at 1414 Enclave Parkway 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.

Meanwhile, another Greenway Plaza tenant — Occidental Petroleum Corp. (NYS: OXY) — will be vacating its space to relocate to the Energy Corridor, HBJ previously reported.

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