The Oil and Gas industry is the prime tenant of developers planning to build 6 million square feet of office space along I10. This stretch of Interstate 10 is known as the energy corridor. Recent leasing activity in the Energy Corridor has pushed vacancies down to 7 percent, according to Jones Lang LaSalle, a real estate firm. Rents in prime office buildings are $31.50 per square foot, 26 percent higher than they were at the end of 2008. Not all of the projects will be built. Not all of the projects will be built. While some developers have the backing to start, lenders generally require a significant amount of pre-leasing before providing a loan.
Development
1. Mason Creek Office Center
Developer: Myers Crow & Saviers
Location: Northeast corner of I-10 and Mason Road
Size: 2 stories, 135,000 square feet
Status: Proposed
2. Greenhouse Office Park
Developer: Stream Realty Partners/Wile Interests
Location: Southeast corner of I-10 and Greenhouse Road
Size: 5½ stories, 220,000 square feet
Status: Proposed
3. Energy Crossing II
Developer: Lincoln Property Co.
Location: Southwest corner of I-10 and Texas 6
Size: 6 stories, 240,000 square feet
Status: Groundbreaking scheduled for August
4. Future building site, not named
Developer: Skanska USA
Location: 15375 Memorial Drive
Status: Proposed
5. Eldridge Oaks II
Developer: Transwestern
Location: 1080 Eldridge Parkway at Enclave Parkway
Size: 14 stories, 350,000 square feet
Status: Proposed
6. Energy Center Three
Developer: Trammell Crow Co./Principal Real Estate Investors
Address: 935 N. Eldridge Parkway
Size: 20 stories, 546,000 square feet
Status: Proposed
7. Woodbranch Development
Developer: PM Realty Group for Stena Realty
Location: North of I-10 between Dairy Ashford and Kirkwood on Wickchester
Size: Planned for two buildings; each between 175,000 and 200,000 square feet
Status: Proposed
8. Energy Tower III
Developer: Mac Haik Realty
Location: Northwest corner of Interstate 10 and Kirkwood in Energy Plaza
Size: 17 stories, 450,532 square feet
Status: Proposed
9. CityCentre Three and Four*
Developer: Midway Cos.
Address: Southeast corner of the West Belt and the Sam Houston Parkway
Size: About 120,000 square feet each
Status: CityCentre Three is under construction; Four is proposed
10. Murphy Building
Developer: MetroNational.
Address: 9805 Interstate 10
Size: 14 stories, 320,000 square feet
Status: Ground breaking scheduled in July
11. Beltway 8 Corporate Centre
Developer: Panattoni Development Co.
Address: Westway Park Boulevard at Corporate Centre Drive
Size: 2 stories, 100,000 square feet
Status: Proposed
12. Clay Beltway Office Complex
Developer: Transwestern
Location: Northwest corner of W. Sam Houston Parkway and Clay Road
Size: Two buildings: 14 stories with 350,000 square feet and 12 stories with 300,000 square feet
Status: Proposed
13. 8 West Centre
Developer: Core Real Estate
Address: 3505 W. Sam Houston Parkway North
Size: 4 stories, 228,000 square feet
Status: Proposed
14. City West Place 5 through 8
Developer: Thomas Properties Group
Size: 4 Buildings from 307,000 to 640,000 square feet
Location: Near the northwest corner of Westheimer and the Sam Houston Parkway
Status: Proposed
15. Granite Briarpark Green
Developer: Granite Properties
Size: 12 stores, 300,000 square feet
Location: 3141 Briarpark Dr
Status: Under Construction
16. Westchase Park
Developer: Simmons Vedder
Size: 270,000 square feet
Location: 3600 W. Sam Houston Parkway South
Status: Proposed
17. Two Oak Park
Developer: Means Knaus Partners
Size: 6 stores, 150,000 square feet
Location: 6006 Rogerdale Road
Status: Proposed
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Source: Chronicle research, PM Realty Group and Jones Lang LaSalle