If you think that there are a lot of construction cranes on the skyline lately, you are not mistaken. In 2106, there will be 10 new Houston office buildings coming online. And, many of these will involve significant square footage. Next year, two more addresses will join the office space ranks.
- Houston will see 12 new office buildings by the end of 2017.
- Four of the properties have yet to sign tenants.
- Several of the buildings will be new headquarters for Houston-based companies.
If you think that there are a lot of construction cranes on the skyline lately, you are not mistaken. In 2106, there will be 10 new Houston office buildings coming online. And, many of these will involve significant square footage.
Next year, two more addresses will join the office space ranks. These properties are well distributed around Houston.
The majority of the building have signed tenants. Only four have not signed any. The biggest buildings will be located in Generation Park, Westchase and the Central Business District.
Resplendent with plenty of glass, striking architecture and smart features, here are the top dozen projects to watch:
- 609 Main, which broke ground at the tail end of 2013, will be delivered in the fourth quarter this year. Houston-based Hines is constructing the 1.05-million-square-foot office tower. The building is 7 percent leased.
- Houston-based Hilcorp Energy Cos.’s 500,000-square-foot tower at 1111 Travis Street is expected to deliver this quarter. It’s 24 stories will house the company’s new headquarters.
- Millennium II, a 22-story, 417,000-square-foot tower, is rising on three acres at 10353 Richmond. It is adjacent to the existing Millennium Tower. The new address opens fully leased, with National Oilwell Varco Inc. the sole tenant.
- Skanska USA Commercial Development is developing West Memorial Place II, which will have 380,000 square feet of space. Currently 49 percent leased, it comes on line in the second quarter.
- Another Houston headquartered company, Amegy Bank NA, is eagerly awaiting its four acre, 350,000-square-feet headquarters. It’s under construction at 1717 W. Loop South. It will be a 2017 entry into the market, and is already about three-quarters leased.
- Three partners are developing Regions Financial Center in Greenway Plaza: Houston-based TRC Capital Partners, Houston-based Hansen Partners and Barbour Investments. The anchor tenant will be Regions Bank, and the 180,00 property is roughly 40 percent leased.
- An empty building will be completed in the second quarter of this year by Trammell Crow Co. Energy Center Five, will be 524,328-square-feet when completed by the Dallas-based company, which first put shovels into the ground in 2014.
- The Woodlands-based J. Beard Real Estate Co.will see delivery of its Havenwood Office Park. But, to date, it will see no tenants, with 240,000 square feet in waiting.
- The Woodlands will also be home to Wildwood Corporate II. The Houston-based developer, Archway Properties, will deliver the currently unleased building in the third quarter of this year. The property will finish at 201,933 square feet.
- New Yorkers have come into town to develop the Kirby Collection. Thor Equities is developing the upscale mixed-use project. The project is the most ambitious of the lot, with a total of 1-million-square-foot planned, including a 13 stories of Class A office space, two levels of retail and a 25-story residential tower. It’s to come on line in the fall of 2017.