New building planned for Energy Corridor
CORE Real Estate LLC and Prudential Real Estate Investors plan to construct a new office building to meet increased demand in the Energy Corridor submarket of west Houston.
The developers plan to break ground Sept. 1 on a three-story, 174,000-square-foot office building at 17000 Katy Freeway in the Park 10 development. The building will have parking for roughly 800 vehicles and be ready for occupancy in the second quarter of 2007.
Mike Wyatt of Houston-based CORE Real Estate expects that energy, energy engineering, oil support and technology support companies will be interested in the new building. Those types of tenants are having a more difficult time finding large contiguous spaces in the Energy Corridor, he says.
Bonnie Kelley and Cody Armbrister of Trammell Crow Co. have been hired to lease space in the building, which will have 59,000 square feet of contiguous space on each floor.
Wyatt, Ric Pipkin and Mike Haley of CORE Real Estate are developing the office space. Their development partner, Prudential Real Estate Investors, is the Parsippany, N.J.-based real estate investment and advisory business of Prudential Financial Inc. (NYSE: PRU).
The building is being designed by Houston-based Powers Brown Architecture, and it will be built by Harvey, a local general contractor.
