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Our Hottest Submarket's Latest Development

Houston

The Energy Corridor is getting another spec office project. (These groundbreakings are happening almost as often as Miley Cyrus causing a ruckus... but fortunately with much less tongue.)

Our Hottest Submarket's Latest Development

Piedmont Office Realty Trust just announced Enclave Place, a 302k SF, 11-story Class-A office building. Piedmont EVP Bob Wiberg tells us it'll be built on 4.7 acres Piedmont acquired when it bought adjacent 1430 Enclave Pkwy in 2000. It's fortunate to have that land in hand--Bob says there are very few sites available in the Enclave area where a developer could build multi-tenant office product. Piedmont likes Enclave Business Park for its high-end quality control.

Our Hottest Submarket's Latest Development

The building will have efficient 29k SF floorplates with very few columns and includes a six-level garage at 4:1,000 parking ratio. (We're not good with numbers, does that mean there will be room to tailgate before work?) And in the top right of this rendering, you can see the 11th-floor balcony that faces Downtown, a unique feature. It'll break ground in March and complete in Q2 '15. Gensler is handling design, PMRG is project manager, Tellepsen is GC, and Colvill will lease the building. It's fully spec, and Bob says the team is just now hitting the market (primarily targeting energy firms, of course) for pre-leasing. 1430 Enclave next door is 100% occupied.