Boris Posted June 9, 2006 Share Posted June 9, 2006 http://www.globest.com/newspics/hou_energycentertcc.jpg http://www.globest.com/news/houston/ "JV Unveils 630,000-SF Energy Center Plan HOUSTON-Looking to invest $750 million to $1 billion into a spec class A office development program, Trammell Crow Co. and Principal Real Estate Investors are rolling out their first local project: two buildings, totaling 630,000 sf on 9.4 acres. The Energy Center will be the submarket's first class A office development since 2000. Based on today's construction costs for upper-end class A space, the 330,000-sf first phase most likely will cost $60 million to $70 million to get out of the ground. A September groundbreaking is planned for the 13-story building along Eldridge Parkway between Dairy Ashford Road and Katy Freeway. It's estimated the spec project will take a year to 14 months to deliver. ...." 1 Quote Link to comment Share on other sites More sharing options...
Trophy Property Posted June 9, 2006 Share Posted June 9, 2006 http://www.globest.com/news/houston/ "JV Unveils 630,000-SF Energy Center Plan HOUSTON-Looking to invest $750 million to $1 billion into a spec class A office development program, Trammell Crow Co. and Principal Real Estate Investors are rolling out their first local project: two buildings, totaling 630,000 sf on 9.4 acres. The Energy Center will be the submarket's first class A office development since 2000. Based on today's construction costs for upper-end class A space, the 330,000-sf first phase most likely will cost $60 million to $70 million to get out of the ground. A September groundbreaking is planned for the 13-story building along Eldridge Parkway between Dairy Ashford Road and Katy Freeway. It's estimated the spec project will take a year to 14 months to deliver. ...." That just goes to prove the point that certain segments of the Houston Office market are stronger than others. Occupancy is extremly strong in the West Houston Submarket. The Energy frims are in growth mode and are continuing their expansion to the West. Now if we could get occupancy Downtown, Greenway, and Galleria to those lovels there would be some new spec towers built in those areas. Quote Link to comment Share on other sites More sharing options...
Boris Posted September 15, 2006 Author Share Posted September 15, 2006 This is the third project mentioned in the BP article. Quote Link to comment Share on other sites More sharing options...
nmm Posted September 15, 2006 Share Posted September 15, 2006 (edited) Whats "Class A" office space, exactly? And Class A as opposed to what, Class B?Anyway, i stand by my assertion in that Houston isnt your prototypical city. Its really one big ass suburban community. Edited September 15, 2006 by nmm Quote Link to comment Share on other sites More sharing options...
TheNiche Posted September 15, 2006 Share Posted September 15, 2006 Whats "Class A" office space, exactly? And Class A as opposed to what, Class B?Class A office space incorporates some stong combination of prestige, location, amenities, and high-quality buildout. It also costs the most.There are also Classes B, C, and D. The further from A that an office building is, the lower the quality. An appraisal dicitionary could probably provide you with a more precise way of categorizing the differences in building quality.Apartments are rated using a similar system. Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted September 16, 2006 Share Posted September 16, 2006 Class A office space incorporates some stong combination of prestige, location, amenities, and high-quality buildout. It also costs the most.There are also Classes B, C, and D. The further from A that an office building is, the lower the quality. An appraisal dicitionary could probably provide you with a more precise way of categorizing the differences in building quality.Apartments are rated using a similar system.I didn't know they went all the way to D, thanks for the info Niche. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted September 16, 2006 Share Posted September 16, 2006 I didn't know they went all the way to D, thanks for the info Niche.You're very welcome. When it gets as bad as a D complex, you're talking about complexes that are generally fewer than 50 units, old, decrepit, leaky, moldy, bug-infested, crime-ridden, and on top of all that, poorly located. Not exactly investment-grade... Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted September 16, 2006 Share Posted September 16, 2006 You're very welcome. When it gets as bad as a D complex, you're talking about complexes that are generally fewer than 50 units, old, decrepit, leaky, moldy, bug-infested, crime-ridden, and on top of all that, poorly located. Not exactly investment-grade...The kind of places that "Mr. I.D." & "24 Hour Chiropractors" would be located at? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted September 16, 2006 Share Posted September 16, 2006 The kind of places that "Mr. I.D." & "24 Hour Chiropractors" would be located at?Although for some reason I was talking about apartment complexes in my last post as opposed to office buildings, yeah, you'd see the difference in quality in the types of tenants that such a building attracts. Despite very low rental rates, the Class D office buildings usually have a glut of vacancy. The larger ones are at the most risk of becoming abandoned rat-holes. *coughCentralSquarecough* Quote Link to comment Share on other sites More sharing options...
Boris Posted October 25, 2006 Author Share Posted October 25, 2006 CONSTRUCTION UNDERWAY ON PHASE I OF ENERGY CENTER HOUSTON Quote Link to comment Share on other sites More sharing options...
sttombiz Posted October 26, 2006 Share Posted October 26, 2006 the fence went up the other day Quote Link to comment Share on other sites More sharing options...
VelvetJ Posted October 26, 2006 Share Posted October 26, 2006 Though I am glad to see the Energy Belt Skyline grow even more, the conservative designs of these buildings leave much to be desired. Buildings don't always have to be extravagant spectacles to be exciting to look at. Quote Link to comment Share on other sites More sharing options...
sttombiz Posted October 27, 2006 Share Posted October 27, 2006 you should go down enclave pkwy. the new sysco tower looks amazing Quote Link to comment Share on other sites More sharing options...
Talbot Posted November 2, 2006 Share Posted November 2, 2006 Yeah, the sysco building looks really good. Quote Link to comment Share on other sites More sharing options...
Trae Posted November 2, 2006 Share Posted November 2, 2006 Enclave is a real wooded parkway and looks nice with those buildings lining across it. I like this area of Houston. 1 Quote Link to comment Share on other sites More sharing options...
KinkaidAlum Posted July 20, 2007 Share Posted July 20, 2007 Good news for Trammel Crow which shows the strength of the Houston market. The entire Energy Center I was leased to Foster Wheeler. All 332,000 square feet will be used by the company to consolidate employees from around town and to expand the company. This building was built as a spec building. It is obvious that there are companies around town in need of LARGE amounts of space which bodes well for the proposed towers downtown and elsewhere. This will also most likely mean that Energy Center II should break ground sooner rather than later. Quote Link to comment Share on other sites More sharing options...
T 2 THA C Posted July 26, 2007 Share Posted July 26, 2007 Its interesting to see how more and more buildings are popping up on the vacant land on I-10 as construction is wrapoping up on alot of the segments. It sure is better than an ugly shopping center. Quote Link to comment Share on other sites More sharing options...
Trae Posted July 26, 2007 Share Posted July 26, 2007 I-10 is going to be lined with mid-rise buildings from Memorial City until Fry Road. The next tower of considerable size is the Memorial Hermann hospital at the Grand Parkway. Quote Link to comment Share on other sites More sharing options...
marc Posted August 9, 2007 Share Posted August 9, 2007 I-10 is going to be lined with mid-rise buildings from Memorial City until Fry Road. The next tower of considerable size is the Memorial Hermann hospital at the Grand Parkway. Yes, i love it. I took a trip down I-10 from The Grand Parkway to the Galleria a couple of days ago. It is awesome to see them getting rid of the cheesy strip malls and such to erect the mid/highrise towers. This, of course, bodes well for that area in offering higher paying jobs, meaning, for the most part, higher income residents. (not to be a snob, but Houston has enough low income neighborhoods) If i am lucky enough to live until say, 2030, it will very interesting to see the highrises lining all freeways for about 30 miles going from DT. It reminds me of the novel, BRAZIL. m. Quote Link to comment Share on other sites More sharing options...
ENGcons Posted August 9, 2007 Share Posted August 9, 2007 The second tower of that Energy Center breaks ground later this month.However, Those towers are nothing compared to the World Class Facilities tha BP has coming out of the ground. Their new Helios Plaza which will house BP traders. It is part one of their master plan and may be only 6 floors but there is no other building like it in the country. Quote Link to comment Share on other sites More sharing options...
Trae Posted August 9, 2007 Share Posted August 9, 2007 (edited) Six stories? Go up to at least 10, then start talking. Edited August 9, 2007 by Trae Quote Link to comment Share on other sites More sharing options...
ENGcons Posted August 10, 2007 Share Posted August 10, 2007 10 stories of simple cookie cutter mid rise is not impressive. The 6 story building BP is putting up is not only a LEED Platnium design building it is the largest and most sophisticated LEED project in the country, potentially the world. Not to mention after the completion of this building the plans extend to a new office tower, retail centers, and hotel all on the Katy Freeway on BP property. 6 year timeline for the completion of this development. Quote Link to comment Share on other sites More sharing options...
Trae Posted August 10, 2007 Share Posted August 10, 2007 Well, if it was ten stories and LEED Platinum, what is the difference? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted August 11, 2007 Share Posted August 11, 2007 Well, if it was ten stories and LEED Platinum, what is the difference?Four. Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted September 3, 2007 Share Posted September 3, 2007 The second tower of that Energy Center breaks ground later this month.However, Those towers are nothing compared to the World Class Facilities tha BP has coming out of the ground. Their new Helios Plaza which will house BP traders. It is part one of their master plan and may be only 6 floors but there is no other building like it in the country.If I'm not mistaken they've already begun construction on the second tower. At least that's what it looked like when I drove by there earlier this afternoon. Quote Link to comment Share on other sites More sharing options...
Boris Posted September 4, 2007 Author Share Posted September 4, 2007 (edited) Saw this blurb on the TAMU website. Couldn't find an article in the Chron's website. Anyone have any other info on this project?Developer to add buildings close to I-10 and Texas 6 - 9/4/2007(Houston-Sugar Land-Baytown: Office) (Houston) - Citing strong job growth and shrinking property vacancies, Opus West Corp. is planning a two-building development in the west Houston area that would add 460,000 square feet of office space to this energy-dominated market. The Phoenix-based developer bought almost 17 acres near the southwest corner of Interstate 10 and Texas 6 for the project, to be called Energy Crossing I & II. The price was not disclosed. With or without a tenant, the company expects to start construction in the fourth quarter, with the first phase scheduled for completion a year later. Overall office vacancy in this area, known as the Energy Corridor, is less than 7 percent, and the Class A market has even less space available, according to a mid-year report by Transwestern. Class A rents are up 9 percent on an annualized basis from the end of last year through June. "Tracts of land with this size and location are in short supply in the Energy Corridor," said Cushman & Wakefield's Marshall Davidson, who was part of a team that brokered the land transaction. (Reprinted from 09/01/07)[Houston Chronicle] Edited September 4, 2007 by Boris Quote Link to comment Share on other sites More sharing options...
Boris Posted September 4, 2007 Author Share Posted September 4, 2007 Found the story:http://www.chron.com/disp/story.mpl/busine...ff/5100807.html Quote Link to comment Share on other sites More sharing options...
lockmat Posted January 8, 2008 Share Posted January 8, 2008 How's this comin along? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted January 8, 2008 Share Posted January 8, 2008 How's this comin along?As of last week, it was coming along nicely. It's already a sight to behold on the way into town. Ditto with the BP buildings. Quote Link to comment Share on other sites More sharing options...
Ethanra Posted January 8, 2008 Share Posted January 8, 2008 The Energy corridor is impressive with its growth. The tree line along Eldridge and the couple of nice parks and the new shopping makes it a very comfortable neighborhood. Two cranes are up by Sysco HQ as well ( Enclave and ...?) I've notice at least a dozen different cranes over the past 12 months in this corridor with min. 5 up right now... Quote Link to comment Share on other sites More sharing options...
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