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Five Chasewood

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Five Chasewood Office Building and Garage are new buildings being developed by Genesis Capital Partners XVII, Ltd. and will be located at Chasewood Park Drive near the Tomball Parkway State Highway 249. The 3.26 acre site is adjacent to the existing Four Chasewood office building.

Five Chasewood will maintain an architectural character similar to Four and Three Chasewood through the use of curtainwall system with glass spandrels and blue/green glazing.

The project consists of two primary structures:

Office Building: Five Chasewood is a 10-story spec office building of approximately 250,000 GSF with a 23,300 s.f. ground floor and 25,400 to 25,600 s.f. floor plates. Tenant spaces shall be developed to a "warm shell" with finish out by the tenants. Finish out of public spaces (i.e. first floor entrance lobby, restrooms, one typical corridor/floor) shall be included in the Project Scope.

Garage: A separate parking garage is a 6-1/2 story structure that contains approximately 303,892 GSF with approximately 940 parking spaces will be connected to the new Five Chasewood office building by a covered walkway.

Construction is scheduled to start in 2009.

Ziegler Cooper - Five Chaswood

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  • Plan the build-out of the remainder of the office park with additional office buildings, hotel, and retail space to add to this upscale business park in northwest Houston.

  • Current plans are underway for another Class A office building (Five Chasewood) and a hotel development and advanced negotiations are ongoing with a national hotel developer.

GenCap Partners

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The master plan is to develop two more Class A office buildings totaling 545,000 square feet with parking garages, a 200-room full-service hotel with conference facilities and restaurants on the remaining 22 acres of land. Land sites are also available for build-to-suit opportunities for corporate users that desire to be a part of the finest office environment in Northwest Houston.

Once fully developed, Chasewood Technology Park will contain approximately 800,000 square feet of first-class office space. Additional features planned include outdoor amenities such as manmade lakes, park benches, jogging trails, and landscaped walkways along Cypress Creek, which runs adjacent to the park. The walkways will allow pedestrian access to the Cypress Creek YMCA, which is located on the south side of Chasewood Technology Park across Cypress Creek.

Chasewood Park Webstie

Edited by UpuPUp!
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HOUSTON-Four leases totaling 16,667 square feet have pushed the 105,223-square-foot Four Chasewood office building to 90% occupancy a little more than a year after coming online. Owner GenCap Partners Inc. is readying for the next step at Chasewood Technology Park: the 235,000-square-foot Five Chasewood.

"We've completed design development on Five Chasewood, and we're looking for a lead tenant," comments David Lee, senior vice president with Transwestern's Houston office.

The remaining 20 acres are being targeted for two additional office towers and a hotel. Lee says discussions are underway for the hotel component, adding that, upon build-out Chasewood Technology Park will have 1.2-million square feet of office space, some retail and a hotel.

http://www.globest.com/news/1562_1562/houston/182760-1.html

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10 story, 240k sf - expect construction to begin later this summer. Leased to a single tenant. Not sure what this means for 6 Chasewood.

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At the architecture workshop I went to today, I saw that this was on the boards and also that there was going to be a meeting in the 15 of this month.

At the architecture workshop I went to today, I saw that this was on the boards and also that there was going to be a meeting on the 15 of this month.

Edited by TowerSpotter

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"It's a deal of firsts: For the first time in its 15 years of ownership, GenCap Partners sold a site in Chasewood Technology Park. And the buyer will build the first Marriott in Northwest Houston in over a decade. (There's an old saying: You never forget your first kiss, your first love, or your first technology park sale.)"

Uniquity Real Estate's Lisa Hankamer (right, with Griffin Partners' Kimberly Gauss) repped the seller; she tells us the site is seven acres within the 32-acre master-planned office park. Her team was brought on board by GenCap and leasing agent Transwestern because they felt a hotel would complete a live-work-stay-play environment. (One could move there and never leave.) The park has 463k SF of office space and is adjacent to Hewlett Packard's HQ, Noble Energy's 1M SF campus, and Lone Star College's 1.2M SF campus. It's also near retail and multifamily offerings at Vintage Park and Willowbrook Mall. Lisa tells us the deal also benefitted from its proximity to the Energy Corridor, The Woodlands, and Bush Airport. One challenge: Changing flood plain requirements.

Buyer MAS Lodging Capital will build a Marriott SpringHill Suites on the tract. It was drawn to the strong office absorption (especially Noble's recent activity) and will build above-average meeting space to serve those users. Look for groundbreaking soon and completion in September 2014. There's more office and retail coming to Chasewood Technology Park as well—GenCap SVP Paul Vangrieken says an additional 500k SF of office is coming soon (5 and 6 Chasewood), and three retail pads have been carved out for fine dining and other services. Lisa just formed her company six weeks ago and tells us she has a lot of unique hotel projects in the works, including marketing a resort on the Frio River and a boutique property in Costa Rica."

http://www.bisnow.com/commercial-real-estate/houston/the-deal-sheethou102913/

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http://www.bizjournals.com/houston/blog/breaking-ground/2015/03/as-energy-company-backfills-exxon-space-proposed.html

 

Last week, Houston-based Swift Energy(NYSE: SFY) announced that it will relocate its headquarters from its current space in Two Greenspoint Place to Five Greenspoint Place, which is currently occupied by Irving, Texas-based Exxon(NYSE: XOM), putting the nail in the coffin on a deal for a headquarters move that was announced in 2013.

Swift had originally planned to be the sole tenant in a new 235,000-square-foot building Transwestern planned to develop dubbed Five Chasewood, which was expected to break ground last year. The development is off State Highway 249 near Vintage Park in northwest Houston.

That project has been on hold since "an unwelcome and unanticipated event ... prevented us from moving forward," David Lee, a senior vice president at Transwestern, said in an email.

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