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Five Oaks Place/Woodside: Office Tower At 1500 Post Oak Bvd.


fernz

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Last night, the parking at the Galleria location is already getting bad again after the New Year Resolution minions died off. I had to park over down by Aaron Brothers...it was 7:00 p.m. and it was that full, which is typically when the after work crowd leaves.

I am guessing, some people got a head start and changed their routine by avoiding Post Oak.

Again, their last day is this Friday.

I hope they build another gym in the area, or else it will be a long wait for machines.

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I think I may have figured out the key to Spring Shadow's source's confusion. BHP recently bought PetroHawk, whose offices are downtown. Perhaps they are consolidating departments with PetroHawk, which may require shifting some people from downtown to uptown and vice versa, with the plan to consolidate them all uptown when the new building is completed. I am only speculating, but it makes some sense based on the BHP rumor mill (which, as is usually the case with rumor mills, may have gotten it almost half right.)

That does not mean that BHP bought the fitness building or is the builder/developer of the new building. And it does not mean they are moving people out of their current offices for the construction of the new tower.

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http://www.bizjournals.com/houston/news/2012/01/31/apache-expands-office-at-post-oak.html

Pure speculation, but to me seems plausible that this could be the building they are talking about...

"Houston-based Apache (NYSE: APA) had been considering its real estate options, including possibly pre-leasing space in a proposed office building that would not be built without a commitment from a lead tenant."

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http://www.bizjourna...t-post-oak.html

Pure speculation, but to me seems plausible that this could be the building they are talking about...

"Houston-based Apache (NYSE: APA) had been considering its real estate options, including possibly pre-leasing space in a proposed office building that would not be built without a commitment from a lead tenant."

odds are they were considering a couple of different options in the Galleria and elsewhere, including BLVD place and perhaps five oaks. seeing as their lease was up next year a five year extension for a deal of this size is essentially a short term renewal so it doesn't take any build-to-suit opportunities off the table... it just buys them more time.

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odds are they were considering a couple of different options in the Galleria and elsewhere, including BLVD place and perhaps five oaks. seeing as their lease was up next year a five year extension for a deal of this size is essentially a short term renewal so it doesn't take any build-to-suit opportunities off the table... it just buys them more time.

Excellent point.

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30 story with a 7 story parking garage. The drawings reflect the rendering that Houston 19514 posted. DE Harvey is looking to be busy again in the future: Anadarko II, Exxon/Mobil, 1500 Post Oak, and a few others in the works.

Per a construction search engine, it is saying there is an office building with an estimated start date of March 2012 in the 77056 zip code. Bid date says "ASAP." It was last updated Jan 24.

The only other buildings under construction in the Galleria area is Skanksa and BBVA, no? And they have already broken ground.

Nancy's article a few weeks ago mentions a 2008 article, which is HBJ's. In it says,

The owner needed city approval to build the structure 15 feet away from Post Oak instead of the standard 25 feet. The setback change, granted last week, applies on Post Oak from Four Oaks Place Drive to West Briar Lane. The building will be located closer to the street in keeping with guidelines being developed for the future rail corridor.

http://www.bizjourna...f=et63&ana=e_du

Edited by lockmat
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Per a construction search engine, it is saying there is an office building with an estimated start date of March 2012 in the 77056 zip code. Bid date says "ASAP." It was last updated Jan 24.

The only other buildings under construction in the Galleria area is Skanksa and BBVA, no? And they have already broken ground.

Nancy's article a few weeks ago mentions a 2008 article, which is HBJ's. In it says,

http://www.bizjourna...f=et63&ana=e_du

Something at BLVD place could however be a culprit.

Edited by Nick_G
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I've heard that 24-Hour Fitness will not be a tenant in the new building (contrary to the 2008 buzz for the earlier incarnation of the project). However, there is a rumor that the big oil co across the street is considering leasing space there for an employee health-club facility.

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  • 3 months later...

Good catch. Not sure, but RD did a project with a Terranova Development in Dallas, which was called the Terranova. Maybe it's Houston's version?

http://terranovapark...s.com/news.html

I drove by yesterday and it looks like these are the site trailers from the development in Dallas. They look horrible. Old and dirty, glass broken out with plywood covering most the windows. They are sitting right in the middle of the McD's parking lot.

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  • 2 weeks later...

Thank you Jay, Chris, and Lockmat. I didn't know where to drop this Terranova trailer observation. They've been there for about 2 weeks, so I have to believe it's not a short-term parking issue. That said, they look like @ss and have not been improved in any possible way since being parked there. Wasn't Randall Davis involved in Terranova? Could this be the prelude for a new yet-to-be-released project sales office?

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Thank you Jay, Chris, and Lockmat. I didn't know where to drop this Terranova trailer observation. They've been there for about 2 weeks, so I have to believe it's not a short-term parking issue. That said, they look like @ss and have not been improved in any possible way since being parked there. Wasn't Randall Davis involved in Terranova? Could this be the prelude for a new yet-to-be-released project sales office?

I noticed on Thursday or Friday that they were being connected to utility lines but wanted to verify before I posted. Went back today and they have been connected now.

Terranova was a partnership between RD and Hines.

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  • 6 months later...
  • 1 month later...

Awesome news. I want a downtown tower, too but at least we know this isn't spec so I don't think it is really hurting the dt market, also bc we already knew about this.

If the tenant is signed, I would hope they finish up the design fpphase quickly.

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  • 3 weeks later...

The Chron has picked up the story, too...

 

http://blog.chron.com/primeproperty/2013/02/bhp-billiton-office-tower-to-rise-on-post-oak-boulevard/#comment-21660

 

 

BHP Billiton Petroleum said Monday it will hire hundreds of new employees and lease a 30-story office tower to be built at 1500 Post Oak Blvd. to accommodate its expanding shale business and future growth.

Construction is expected to start later this year on the new building, which will be connected  to the company’s current headquarters at 1360 Post Oak Blvd, creating a two-tower campus. A glass skybridge will connect the structures.

The buildings will house several thousand BHP employees, many still to be hired. Some 1,800 existing BHP employees will office there, including workers in other locations. Employees in downtown’s Wells Fargo Tower and a building in Tulsa, Okla. will relocate to the Post Oak headquarters.

“We’ll probably be pushing 3,000 when we move into the new building,” CEO J. Micheal Yeager said at a press conference.

In total, BHP will occupy about 1 million square feet in both buildings. The new tower will have 560,000 square feet.

Transwestern will develop the new building for owner TIAA-CREF.

BHP Billiton deals in natural resources ranging from iron ore and uranium to oil and natural gas. The company is headquartered in Melbourne, with a major office in London, but the petroleum division is based in Houston.

Architectural firm Pickard Chilton designed the building, which is expected to open in 2016. Gensler also was involved.

“We have designed this new building with employee productivity and appeal as top priorities to retain current employees and attract prospective employees,” Yeager said in a statement. “We plan to hire hundreds of new people in the immediate future. To attract the most talent, we believe we need to offer them the best possible work environment.”

 

 

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I was counting it up earlier and if I am correct, we have 21 buildings that are 20 or more floors tall that are either on the drawing board, have broken ground or almost complete. 

 

5 Allen Center: 50-stories

600 Main: 48-stories

State Grille Condo: 40-stories

Anadarko: 32-stories

1500 Post Oak: 30-stories

Astoria: 28-stories

The Soverign: 22-stories

Hanover: 30-stories

Blvd Towers 1-5 (not including Hanover) 20/30-story ish

BBVA Tower: 20 stories

3333 Richmond: 20 stories

Noble Energy: 20 stories

Marriott Downtown: 30-stories

Ashby Highrise: 20 stories (ish---forgot exact #)

New Apartment Tower downtown: 20+ stories

 

 

 

Edited by wxman
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