ARCO OFFICE GOING DOWN; DOWNTOWN HOUSTON CLUB BUILDING WILL STAY PUT 
Dismemberment of the former ARCO office building west of Eldridge at 15375 Memorial Dr. should begin sometime within a month or two, Catie Dixon reports. What will new owner Skanska USA do with the 21-acre site — rumored as a possible location for the new Phillips 66 headquarters? Skanska is currently hunting for an architect to provide a master plan, Dixon writes, “potentially with a couple of offices.” Meanwhile, the other pre-owned office building purchased recently by the Swedish construction firm appears safe from the wrecking ball: The company’s regional manager tells Dixon he expects to begin remodeling the Houston Club building at 811 Rusk St. downtown by the end of 2012. [Real Estate Bisnow; previously on Swamplot] Photo of Houston Club building: Silberman Properties
Sign up for the Newsletter
Tag: Energy-Corridor
ConocoPhillips refining offshoot Phillips 66 will build a new headquarters facility no more than 10 miles away from the company’s current location, “within the I-10 and Beltway 8 corridors,” according to an email sent to employees this morning. The company had already indicated that Phillips 66 employees would leave the company’s iconic current facility at Dairy Ashford and Eldridge, but the announcement that the oil company’s headquarters will be built from scratch is new.
If, as rumored, Skanska USA Commercial Development is the buyer of this sprawling former ARCO building at 15375 Memorial Dr. west of Eldridge, the Swedish construction giant will soon be the owner of a small one-of-each collection of Houston office types: The Houston Club building Downtown, the 20-story tower Kirksey designed for the company that just began construction on the Galleria side of the West Loop, and this 21-acre Energy Corridor campus. According to reports, the company is likely to tear down both the Memorial Dr. building and the one Downtown and build office buildings on each site from scratch.
- Houston office developers rev up Energy Corridor projects [Houston Business Journal]
- Previously on Swamplot: First Sign of Skanska: Where the New Spec Office Tower Near the Galleria Will Go, Skanska Helping Houston Club to Early Exit, Will Skanska Knock Down the Houston Club?, Skanska Post Oak Tower: We Don’t Need a Bank To Build This
Photo: Silberman Properties
COMMENT OF THE DAY: FEELING THE ENERGY ALL AROUND HOUSTON “I see nothing wrong with XOM making the move to the Woodlands area. It now creates a third energy corridor in the Houston metro area, and a different environment in which to recruit. CBD has Chevron, BG, Shell, El Paso, Enterprise, etc. Woodlands now will have Anadarko & XOM. BP and service companies are located on the west side. Now you have can have real options on living close to where you work — and the type of lifestyle that you want.” [DJ, commenting on Urban Escape: An ExxonMobil Video Tour and Explanation for Its Enormous New Houston Forest Campus]
Brock Silverstein tells the HBJ‘s Allison Wollam the strip-center endcap on the northwest corner of Briar Forest and Eldridge Parkway where he and his wife Stacey just opened the Pecan Creek Grille is one of the locations he had investigated a year and a half ago as a possible new home for the then-ready-to-roam Buffalo Grille. Fans of that West U breakfast joint, where the Silversteins worked for 10 years, may find this new lunch spot in the Energy Corridor a little familiar, in a way-out-west kind of way: Pecan Creek has an outdoor patio and serves “diner-style” food, Tex-Mex standards, and breakfast all day.
THE BLACK FOREST MIX How do you follow your recent purchase of the FBI-invaded office building at 5050 Westheimer — you know, the former Galleria headquarters of that charmingly creative Stanford Financial Group? Black Forest Ventures — a Woodlands-based venture capital firm started by a member of the family behind the Bruker biomedical empire — has the answer: Go out west near Katy and buy Mustang Engineering’s 175,000 sq.-ft. office building in the Park Ten office park off I-10. Just add both to Black Forest’s growing potpourri of properties. Other holdings gathered by the company: Woodlands gourmet grocers Hubbell & Hudson; 3 Black Walnut Cafes in the The Woodlands, Sugarland, the Rice Village; a few Woodlands office buildings; numerous rental homes; and a 15,000-sq.-ft. hangar at David Wayne Hooks Airport in Spring. [Houston Business Journal]
ALL THOSE NEW ENERGY CORRIDOR OFFICE BUILDINGS “Among projects slated to begin construction soon are the 477,000-square-foot Energy Tower III from Mac Haik Realty Ltd. on the Katy Freeway, the 170,000-square-foot Enclave Corporate Center and the 230,000-square-foot Energy Crossing II, developed by Phoenix-based Opus West Corp. on the Katy Freeway. Currently, 13 new office buildings are being constructed in the Energy Corridor, according to the Energy Corridor Management District. Major developments coming online in the near future include the 300,000-square-foot Three Eldridge Place at 737 North Eldridge Parkway being developed by Dallas-based Behringer Harvard; the 447,000-square-foot Energy Tower II, which is expected to be completed this fall and will be occupied primarily by Technip; and Eldridge Oaks I, a 350,000-square-foot building at 1080 Eldridge Parkway being developed by Transwestern. In all, the market will gain an estimated 1.25 million square feet of new space, of which about 33 percent is pre-leased. Class A vacancy is expected to increase by about 50 percent this year, its highest rate in five years, according to market experts.” [Houston Business Journal]
AND JULY IS MEAT CANDY MONTH Its first Houston store (at Main and Kirby) apparently a patty-smashing success, 3 new Smashburgers are now ready to open in a few other strip centers: “First up is a restaurant in the Westchase area at 10705 Westheimer, Suite C, opening on July 15. A second will open July 22 in the Energy Corridor at 1635 Eldridge (Eldridge and Briar Forest). And a third, located at 5520 Buffalo Speedway (Buffalo Speedway and Bissonnet) in the West University area, will open July 29.” [Eating Our Words; previously on Swamplot]
WHERE RENTS HAVE DROPPED The latest stats provided to 11 News by Houston-based Apartment Data Services show that at the newest complexes, rents for all size of apartments are now averaging $1,108. That’s 11 percent cheaper than last year. Rents are about the same for complexes built a decade ago, averaging $739 a month. And rents are actually up slightly at older complexes, where they’re averaging $570 a month. ‘I’d say the inner loop is probably the softest,’ said Bruce McClenny of Apartment Data Services. ‘They’re about 40 percent occupied,’ McClenny said of brand-new complexes that traditionally take a year or two to fill up. . . . We’re told rents are holding steady for many apartments in far west Houston, Katy, The Woodlands, Kingwood, and Sugar Land. Demand remains strong in those places. Why? The energy industry, for one. ‘The energy corridor’s taking off again in west Houston. There’s lot of growth, people relocating day in day out,’ according to Shannon Proteau, another agent with Find It Apartment Locators. But, in a twist, Proteau said it’s also because families forced out of homes by foreclosure are attracted by highly-rated suburban school districts.” [11 News]
NOT GOING WEST The Energy Corridor won’t be extending to Katy just yet. KBR’s big move to a new 8-building campus a mile east of the Katy Mills Mall has been scrapped — “for now”: “‘We hope it is a delay, not a change in plans,’ said Will Holder, president of Trendmaker Homes. The development division of the company is building Cross Creek Ranch, a 3,200-acre master-planned community in Fulshear. KBR announced its project in May, saying it wanted to be closer to its growing employee- and customer-base in west Houston, where it would be joining the likes of BP and ConocoPhillips. The campus was designed to include more than 910,000 square feet of space in a series of low-rise buildings at the southwest corner of Interstate 10 and Grand Parkway. Construction was expected to start by year’s end, with estimated completion in 2010. The company was going to lease the facility from developer Trammell Crow Co., which was going to build it on a 123-acre parcel along with shopping centers, restaurants, additional office buildings and hotels.” [Houston Chronicle]
A new Mini-Me for Energy Tower I is now going up at I-10 and Kirkwood. It’s an Embassy Suites Hotel!
The 216-room, 14-story hotel at 11730 Interstate 10 is Mac Haik’s third project in the development and will be situated just east of two office buildings. Energy Tower I, a 345,000-square-foot, 14-story building, is 100 percent leased, and Energy Tower II, a 428,979-square-foot, 17-story building under construction, is 90 percent preleased . . .
The developer is considering a third building, which could be a twin tower to the 17-story building or could be expanded.
- Hotel to cater to Energy Corridor clients [Houston Chronicle]
- Mac Haik Realty set for hotel development [Houston Business Journal]
- Reader Question: That Crane at I-10 and Kirkwood [Swamplot]
Rendering of Energy Plaza Embassy Suites: Mac Haik Realty, via the Houston Chronicle
So much fun in this week’s Neighborhood Guessing Game! We have a winner . . . but only barely. Plus: shenanigans!
Three of you guessed Meyerland, and one guessed “outer Meyerland,” including Marilyn Estates and Barclay Square South. Braeswood got two guesses and so did Champions. Shady River in LaPorte, Prestonwood Forest, “the subdivisions along Cypresswood between FM 1960 and Kuykendahl,” Briargrove Park, Nassau Bay, Westbury, Huntwick, Briar Forest, “close to the Energy Corridor,” Shepherd Park Plaza, Lazybrook, and Timbergrove each attracted one vote.
The top prize goes to Jeff, whose guess included the magic phrase “close to the Energy Corridor.” Our panel of judges has determined that to be good enough. Plus, his entry had a lot of imagery going for it:
OMG, this is complete cheddar. All thats missing here is a disco ball, an overweight swinger with a thick mustache and gold chain, and some Bee Gees pumping out of the 8 track set upon the shag carpet. Attention Swamplot: John Holmes called and wants his house back.
This week’s honorable mention for commentary goes to Marc, who got the date of the house about right and identified a few telling details, though sadly forgot to include an actual guess of the neighborhood:
So when will Colonial be all retro and hip? Ha! I guess late 60’s to early 70’s ….Recessed fluorescents in the baths, light fixtures. Who switched the breakfast nook light? Cool swag light in the family room. Let’s celebrate the bicentennial all over again.
But special honors go to Karen, who has the distinction of being the first to try the Neighborhood Guessing Game version of shooting the moon. She happened upon the actual listing after submitting her original guess and a follow-up comment, then doubled down on her Nassau Bay deception with this comment — clearly meant to throw her competitors off the heavily-vacuumed scent:
Jeff, this is definitely NOT in the energy corridor! I’m sticking with Nassau Bay – I know it’s a total WAG, but all that blue tells me they were inspired by the sparkling blue waters of Clear Lake. I definitely detect a nautical theme in the decor.
I can’t explain why a house so obviously near NASA is not vacuumed with more attention to directionality and linear patterning. That is just sad.
Was her obfuscation effective? Jeff won anyway, but hats off to Karen for stirring things up! (Note: Any of you interested in following in her footsteps, please take note of item 4 in the rules.)
After the jump: The house’s . . . yes, blueish exterior, and the actual name of that near-the-Energy-Corridor neighborhood!
A reader asks about some new construction off I-10:
There’s a tall crane setup at the NW corner of I-10 and Kirkwood, next door to the existing Energy Tower I. I haven’t seen anything about that anywhere. Another office tower by Mac Haik Management? Energy Tower II??
Answers, anyone . . . ?
- Energy Tower I [Mac Haik Management]
Photo of Energy Tower I: Flickr user Steven2005
A reader who works in the Energy Corridor reports that a sign has just appeared at the Northwest corner of Enclave Parkway and Eldridge Parkway announcing Eldridge Oaks, a 350,000-sq.-ft. 14-story office tower being developed by Transwestern.
Transwestern is apparently taking energy issues in this Energy Corridor building seriously: It will pursue an unspecified LEED rating, and has signed the project up as a sponsor of this spring’s Gulf Coast Green conference. Plus, this drawing from the project website shows what the building will look like when the lights go on . . . then off . . . then on!
- Eldridge Oaks [Transwestern]
- Transwestern plans twin towers in Energy Corridor [Houston Business Journal]
- Gulf Coast Green 2008 Symposium and Expo [AIA Houston]
Got some extra energy to spend househunting? Join us for a quick look at six homes for sale in West Memorial, in subdivisions huddled at the T-shaped Energy Corridor’s left armpit (between Highway 6 and Eldridge Parkway that is, south of I-10 and north of Buffalo Bayou).
You can visit them all this weekend — or just gawk as we drive by:
Location: 727 Last Arrow Dr.
Details: 3-4 bedrooms, 2 1/2 baths, 3,051 sq. ft.
Price: $329,900
The Scoop: Lots of 1980s-era wood paneling in a gated community. Three months on the market; one price drop.
Open House: Saturday & Sunday, 2-5 pm
There’s more below the fold!
