Construction Begins on Class A Office Space in Houston's Energy Corridor
May 05, 14
Class A Houston office space remains hard to find in some areas, including the Energy Corridor. According to a recent article from the Houston Chronicle, construction began this month on Atlanta based Piedmont Office Realty Trust's 300,000 square-foot, 11 story Enclave Place building before a tenant had even been found. The building is intended to provide much needed Class A office space to the area. Construction is expected to be completed in mid-2015, the article stated.
Since January 2013, 2.6 million square-feet of office space has reportedly been absorbed in the Energy Corridor. Currently, 16 buildings with a combined total of almost 4.2 million square feet of space are under construction in the Katy Freeway/ Energy Corridor market, the article noted. In an accompanying article, it was reported that 70 to 75 percent of the new construction in the area has been pre-leased, leading to confidence in the ability to find someone to occupy The Enclave building. Likely, the building will be occupied by three or four tenants.
If you're looking for a new office space in Houston, having a tenant representative is a good idea. It doesn't cost you anything to seek representation, as the cost of your representative is built into the landlord's costs. The staff at LandPark Commercial knows the Houston commercial real estate market inside and out. We will work with you to discover all of the available options our area has to offer you and will use our powerful negotiating skills to help you land the place that is just right and at a great price. For more information about our tenant representation services or to get started on finding your new office space, contact us.