HOUSTON – (Realty News Report) – Colliers International has been retained as a multi-year real estate advisor for Southwestern Energy, a natural gas exploration and production company headquartered in a Class A office campus in north Houston.
Southwestern Energy is based in a 300,000-square-foot building in Springwoods Village, a 2,000-acre planned development in northern Harris County. The Class A office building was developed by the Patrinely Group, a Houston-based real estate development firm.
Charles G. Fertitta, Jr., principal & director, and Chris Nash, vice president, will lead the Colliers International advisory team. The team also includes Carrie Prati as Southwestern Energy evaluates its upcoming workplace strategy.
“The drive of Southwestern Energy’s people to discover new ways to fuel the future is inspiring. From our first introduction to Southwestern Energy’s approach—‘the right people, doing the right things, wisely investing cash flow from underlying assets to create value’—we knew this was a company we wanted to represent,” said Chris Nash. “The partnership between Colliers and Southwestern Energy presents an outstanding opportunity to deliver tailored real estate advisory services that make an immediate impact while supporting a long-term plan.”
Southwestern Energy is engaged in natural gas, natural gas liquids, and oil exploration, development and production. It is one of the largest energy producers in the United States with primary operations in parts of Pennsylvania and West Virginia within the Appalachian Basin.
Southwestern Energy recently announced an agreement to acquire Montage Resources Corp., an exploration and production company based in Irving, near Dallas. Montage Resources holds approximately 195,000 undeveloped acres in the Utica and Marcellus Shales across southeast Ohio, West Virginia, and north-central Pennsylvania.
The Southwestern Energy headquarters is widely regarded as one of the finest suburban office properties in Houston. Located at 10000 Energy Drive near Interstate 45, the building sits within walking distance of the 3 million-square-foot ExxonMobil campus and just north of the Grand Parkway.
The headquarters is approximately five miles south of The Woodlands, a major Houston office submarket. According to Colliers, The Woodlands submarket is the healthiest among Houston’s primary office hubs: Class A properties there report a 90.3 percent occupancy rate and command higher-than-average asking rents. Year-to-date net absorption is positive, in contrast to many other submarkets, and leasing activity remains steady.
Oct. 8, 2020 Realty News Report Copyright 2020
File: Colliers Retained by Southwestern Energy