This Week in the Houston Office Market: 10/9/10

by CoyDavidson on October 9, 2010

Headline News from the Houston Office Market

Beacon Investment adds 3900 Essex to its Portfolio

Beacon Investment Properties LLC has continued its acquisition of local office buildings with the purchase of 3900 Essex. The 236,000-square-foot office building, named for its address on Essex, was recently sold by affiliates of Fuller Realty Partners and Aquinas Cos. LLC for an undisclosed amount. The building is 92-percent leased to tenants including Thomson Reuters, Bank of Houston, Open Solutions and seller Aquinas, whose largest affiliate is the Linbeck Group construction company. The building is located next to the Central Market and Highland Village in the Greenway Plaza submarket….. Read more in the Houston Business Journal

Timberloch Place Office Building Earns LEED Silver

U.S. Green Building Council awarded the office building at 1200 Timberloch Place in The Woodlands, TX, the LEED Silver certification. It is part of Anadarko Petroleum Corp.’s campus headquarters. The LEED designation marks the second time that 1200 Timberloch Place has been recognized this year for its environmental leadership. It is one of 13 properties managed by Crimson Services to receive a 2010 Energy Star, an honor for outstanding achievement in energy conservation. The adjacent 30-story Anadarko Tower, also managed by Crimson Services, was the first office building in The Woodlands to achieve LEED certification last year.

Black Forest eyes Woodlands Medical Development

Black Forest Ventures LLC has acquired 11 acres in The Woodlands for a possible medical-related development. The firm acquired a tract of land between Six Pines and Pine Croft Drive in the city’s medical district.  The sales price was not released.  Jonathan Hitchcock, vice president and partner for Black Forest Ventures, hinted in a statement that a medical development could be in the offing. “This purchase will add to Black Forest Ventures’ strategic portfolio of desirable holdings and opens the door for the company to participate in the fast-growing demand of medical office-space,” Hitchcock said….. Read more in the Houston Business Journal

Gexa Energy Headquarter Relocation to Northwest Houston

Gexa Energy will move its Houston operations, including its in-house customer care center, to the Centre at Cypress Creek, a newly renovated space on the former HP campus located on Highway 249 near Beltway 8. Gexa will be transitioning from a 50,000 square foot facility in Greenway Plaza  to 65,000. By January, Gexa Energy is expected to occupy most of Centre at Cypress Creek’s four-story complex. Gexa Energy was founded in Houston in 2002 and is a subsidiary company of NextEra Energy Inc., the largest generator of wind and solar energy in the U.S. Gexa is a deregulated energy company and provides electricity options for people in Texas and 13 other states.

Two Renewals Totaling 97,698 SF Completed at the Esperson Building

After more than a year of negotiations, two locally-headquartered companies have committed to lease renewals totaling 97,698 square feet at The Esperson Buildings in Houston’s Central Business District. Horizon Wind Energy LLC inked a medium-term lease for 58,515 square feet, while law firm Martin Disiere Jefferson and Wisdom L.P. signed a long-term lease for 39,183 square feet.

Houston 2010 Top Office Leases (YTD)

  • KBR: 1,182,023 SF – KBR Tower / Cullen Tower
  • Weatherford International: 335,000 SF – 2000 St. James Place
  • Shell Oil: 300,000 SF – 1000 Main
  • Mustang Engineering: 248,872 SF – 17404 Katy Freeway
  • Nabors Industries: 205,000 SF – One Commerce Green
  • Southern Union: 193,000 SF – Galleria II
  • McDermott: 190,00 SF – Two Eldridge Place
  • Akers Solutions: 133,417 SF – Pinnacle Westchase
  • Suez Energy: 130,846 SF – Post Oak Central III
  • GSA: 122,896 SF – Wells Fargo Plaza
  • Cyrus One: 94,420 SF – 5150 Westway Park Blvd.
  • British Petroleum: 92,000 SF – Two Westlake Park
  • Rowan Companies: 78,841 SF – Williams Tower
  • Cooper Cameron: 75,000 SF – Park Towers
  • TGS-Nopec Geophysical: 68,000 SF – 2500 Citywest

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