Delayed Office Building Breaks Ground In Springwoods Village
CityPlace 1 broke ground in Springwoods Village, adding a 150K SF office building to the mixed-use center.
This is the first multi-tenant office building in Springwoods Village and has been awaited for years. The development team of Patrinely Group, USAA Real Estate Co. and CDC Houston first announced the office component in 2014, when it started the mixed-use CityPlace plaza. At the time, it said the first office/retail building would deliver in 2015. The project was put on hold by the oil slump but was brought back to the table in May 2016 when the American Bureau of Shipping signed a pre-lease for CityPlace 2, a single-tenant building scheduled to deliver in October.
Single-tenant properties have been a strong suit for Springwoods Village, which sprang up around the Exxon Mobil campus and now includes properties for HP, Southwestern Energy, CHI St. Luke's and American Bureau of Shipping.
CityPlace 1 will have 123K SF of office space and 27K SF of retail. It will deliver in Q2 2019. JLL's Chrissy Wilson and Russell Hodges are leasing the office space, while Transwestern's Crystal Allen and Chace Henke are finding retail tenants.
At full build-out, CityPlace will have 4M SF of Class-A office, 400K SF of retail, a Marriott hotel and multifamily.