JV Acquires 19 Acres in Houston’s Energy Corridor for Major Multi-Phase Development

Trammell Crow Co. and Principal Real Estate Investors have teamed up for the purchase and future development of an 18.9-acre site located at the southwest corner of Interstate 10 and North Eldridge Parkway in the heart of Houston’s Energy Corridor.

Trammell Crow Co. and Principal Real Estate Investors have teamed up for the purchase and future development of an 18.9-acre site located at the southwest corner of Interstate 10 and North Eldridge Parkway in the heart of Houston’s Energy Corridor.

Immediate plans for the site include a 20-story, 530,000-square-foot office building and a nine-level, freestanding parking garage, both designed by Houston-based Kirksey Architects. With construction set to begin later this year, the office building will feature a post-tension concrete structure with a high-performance skin of glass curtain wall and metal panels. The developers will be seeking LEED Gold certification, with energy-efficient features throughout the project.

The building will include additional infrastructure on the lower three floors, such as increased slab-to-slab heights, enhanced floor loading and oversize stairwells to provide design accommodations for tenant amenities such as a double-height lobby, fitness center, conferencing center and dining facility. Surrounding the building will be an active green space and water amenity to provide common outdoor areas for tenant enjoyment. Additionally, the site is conveniently located for immediate access to west Houston’s most prominent multi-use parks and trails, including Terry Hershey Park, Bear Creek Park and George Bush Park.

Aaron Thielhorn, Kevin Schmok and Brandon Houston with Trammell Crow will lead the development team, while CBRE’s Cody Armbrister and Steve Rocher have been awarded leasing assignments for the development.

With a completion date set for late 2014, the office building and parking garage will not be the sole on-site developments. The companies have announced that this is merely the first phase and that the overall development will include as much as 1.5 million square feet of Class AA office space.

This project marks the fifth Class A office project Trammell Crow and Principal Real Estate Investors will develop together in Houston. The venture also developed Hess Tower in downtown Houston, Energy Center I and II in Houston’s Energy Corridor, and most recently Noble Energy Center One in northwest Houston. Earlier this year, they announced the establishment of a national office and industrial development program focused on the development of $1 billion in new Class A office and industrial buildings in targeted markets throughout the United States. This is the second program of its kind.