Transocean Signs 300,000 SF Lease in Houston Energy Corridor
Enclave Place
HOUSTON – Transocean has signed a lease for the entire 300,000-square-foot Enclave Place building at 1414 Enclave Parkway in the Energy Corridor. The property, completed in 2015, had remained vacant until this agreement.
Piedmont Office Realty Trust of Atlanta, the building’s owner, was represented in the transaction by Damon Thames and Connor Saxe of Colvill Office Properties. Transocean was represented by David Bale and Louie Crapitto of JLL.
“We are thrilled that Enclave Place has been chosen as the site for a new U.S. headquarters facility and we look forward to welcoming the building’s inaugural tenant when the lease commences next July,” said Joe Pangburn, Piedmont Senior Vice President – Southwest Region.
The 17-year lease with Transocean ranks among the largest office leases in recent years for the Energy Corridor, a Houston submarket that has struggled since 2014–2016 when oil prices fell and many energy companies reduced staff. That downturn created a surplus of office space across the city.
Currently, Transocean occupies 255,413 square feet in the 4 Greenway building under a lease that runs through 2023.
In addition, Transocean leases a 156,000-square-foot building at 1311 Broadfield in the Energy Corridor. That property sits within the Wolff’s Park 10 development and was previously owned by Wells REIT, Piedmont’s predecessor, which served as Transocean’s landlord more than a decade ago. The lease at 1311 Broadfield expires in 2021.
The 1414 Enclave Parkway building is an 11-story office tower designed by Gensler and built to serve a major corporate tenant.
