HOUSTON — HP will establish a new, 378,000-square-foot office campus within Springwoods Village, the large mixed-use development north of Houston. The campus is part of a growing employment hub in the 2,000-acre Springwoods Village master plan, which also includes the new, roughly 3 million-square-foot Exxon Mobil campus.
The HP campus will accommodate about 2,400 employees and is being developed through a joint venture led by Houston-based Patrinely Group, alongside USAA Real Estate Company and CDC Houston. Patrinely Group is headed by Dean Patrinely.
CBRE brokers Brandon Clarke, Charles Gordon, Alexander Somerville, Ryan Roth, and Andrew Zeplain represented HP in the transaction. Dennis Tarro of Patrinely Group and Chrissy Wilson of JLL represented the landlord.
The development will occupy a 12-acre site near the intersection of Interstate 45 North and the Grand Parkway, adjacent to the Southwestern Energy headquarters building that Patrinely Group completed a few years earlier. The campus plan calls for two office buildings — one four stories and one five stories — with construction scheduled to begin in early 2017 and completion targeted for the third quarter of 2018.
The HP campus will connect via a pedestrian bridge to CityPlace Plaza, a lakefront public plaza conceived as a daily gathering place for office workers, residents, and visitors. CityPlace Plaza will link directly to Springwoods Village’s lake and park system and include trails that connect to the Spring Creek Greenway. The plaza design includes an active open space and an amphitheatre intended for both private and public events, enhancing the neighborhood’s walkable, mixed-use character.
“HP will be able to enjoy all of the first-class amenities we will offer within CityPlace and Springwoods Village,” said Robert Fields, president and CEO of Patrinely Group. “Clients are seeking new, state-of-the-art buildings in a vibrant, upscale setting. We offer a compelling address for corporations aiming to recruit and retain top talent from around the world.”
Len O’Donnell, president and CEO of USAA Real Estate Company, added, “We are proud to have Patrinely Group and CDC Houston as our development partners. Securing our second major build-to-suit office in Houston in 2016 for our venture is both rewarding and encouraging.” In May, the American Bureau of Shipping signed a prelease for the office portion of CityPlace 2, a new 326,800-square-foot building in the same project.
Keith Simon, executive vice president of CDC Houston, noted the momentum: “With ExxonMobil, Southwestern Energy and CHI St. Luke’s open for business, and ABS and HP moving here, it’s clear that major employers recognize the benefits of Springwoods Village’s location and its high-quality, walkable mixed-use environment.”
HP, a global technology company that produces personal computers, printers and mobile devices, acquired Houston-based Compaq Computer in 2002; Compaq’s campus had been located in northwest Houston.
Jan. 10, 2017 Realty News Report