ConocoPhillips just signed a lease for 850,000 square-feet in Energy Center Three and Energy Center Four. This was confirmed by Trammel Crow and Principal Real Estate Investors last Tuesday. The exploration and production company is leasing the entire Energy Center Three building, which has 550,000 square feet and 300,000 square feet of Energy Center Four.
Construction on the 20-story Energy Center Three building broke ground in December. ConocoPhillips is expected to move in by the second quarter of 2015. Construction for Energy Center Four is projected to break ground in the fourth quarter of this year. The company will move into the 22-story building in the second quarter of 2016.
According to spokesman Daren Beaudo, ConocoPhillip’s lower 48 business unit employees will occupy the leased space in the Energy Center Towers. The company will be relocating from its current space in the Energy Corridor. Beaudo said that the company will continue to lease the main campus located at 600 N. Dairy Ashford. The company occupies over 1 million square feet at the main campus.
Beaudo said, “The move will allow the company to centralize the lower 48 operations and allow ConocoPhilips to continue to make its mark on Houston’s Energy Corridor.” The towers are located at the southwest corner of Interstate 10 and North Eldridge Parkway. They are rated Class AA and are targeting a LEED Gold Certification.
Balfour Beatty Construction (based in Dallas) will be the general contractor and the lead designer is Kirksey Architects (based in Houston). Principal Global Investors is the parent company of Principal Real Estate Investors who along with Trammell Crow will be developing the towers. The development team will be led by Aaron Thielhorn, Kevin Schmok, and Brandon Houston of Trammell Crow and Joe Wanninger of Principal Real Estate Investors. The joint venture was represented in this transaction by CBRE’s Executive Vice President, Cody Armrister and Senior Vice President Steve Rocher.
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