HP Office In Springwoods Changes Hands
HP Plaza in CityPlace at Springwoods Village has a new owner.
Northridge Capital LLC acquired the office campus at 10300 and 10400 Energy Drive in Spring, according to a release by Patrinely Group. HP Inc. occupies 100% of the building on a long-term lease.
A joint venture between Patrinely Group, USAA Real Estate and CDC Houston developed and then sold the two buildings, which were completed in November. HFF's Jeff Hollinden and Trent Agnew represented the joint venture. The office campus is composed of a four-story and a five-story building totaling 378K SF of rentable office space and has a full-service café and a fitness center.
"HP Inc. was the largest office lease inked for 2016 in Houston," said Patrinely Group President and CEO Robert Fields, who is speaking at Bisnow's The Future of Springwoods Village and Grand Parkway event on May 30. "This transaction reinforces the strength of this new urban center in north Houston."
CityPlace has emerged as a premier employment hub for major corporations: HP Inc., Southwestern Energy and the American Bureau of Shipping all have campuses there. Hewlett Packard Enterprise is the latest big-time company headed to CityPlace, a 60-acre mixed-use development in the master-planned community Springwoods Village.
The development team is also working on CityPlace 1, the first multi-tenant office building in Springwoods Village, which will have 123K SF of office space and 27K SF of retail. Construction began in June and is expected to be completed this June.
When fully developed, CityPlace will include the recently opened, full-service Houston CityPlace Marriott, up to 8M SF of Class-A office space with 500K SF of integrated retail space and additional luxury multifamily.
Join HP Inc., JLL, CDC Houston and Regency Corp. to talk about the developments and trends in Springwoods Village at The Future of Springwoods Village and Grand Parkway event on May 30.