All Those New Energy Corridor Office Buildings

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]

2 Comment