| COVER STORY, FEBRUARY 2007
OFFICE PROJECTS ON THE RISE
Several large-scale office projects are popping up throughout Texas.
Stephen O’Kane
Multiple new office projects are being constructed and taking root throughout Texas. Developers are finding the Westchase and Energy Corridor submarkets in Houston, and the Telecom submarket in the Dallas/Fort Worth area, to be particularly strong. With the size of the new projects ranging from just over 100,000 square feet to more than 1 million square feet, these developers are finding no shortage of tenants to occupy space in these growing areas.
More and more developers are recognizing that offering quality amenities draws more companies. The office projects that are being designed and constructed today are giving their tenants extras such as ample parking, spacious floorplans, access to nearby residenital and hospitality properties and on-site conveniences such as fitness centers and cafés.
By making the place of work a pleasant and convenient experience, developers hope to attract tenants that will sign longer leases for larger spaces. Texas is seeing a surge in these types of properties despite some difficulties in recent years. “Quality, not quantity” certainly is ringing true for developers of office projects in Texas.
CUNA Mutual Group Customer Operations Center
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CUNA Mutual Group Customer Operations Center
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Location: 4950 Amon Carter Boulevard,
Fort Worth, Texas
Size: 108,000 square feet
Start date: August 1, 2006
Completion date: Scheduled for
April 2007
Owner: CUNA Mutual Group
Developer: Koll Development Company (KDC)
Architect: Corgan Architects – exterior architect
Idea/Span – interior architect
General Contractor: Cadence McShane Corporation
Other companies that contributed to the project: Mike Kay, Rob Marsh and Chris Hook with CB Richard Ellis’ Call Center Solutions Group
“The location is superb and allows 18 hours of service per day for both the East and West coasts. The Dallas/Fort Worth market also has a strong labor pool and an affordable housing market—two strong economic drivers for any company calling the area home.”
— Bill Guthrey, senior vice president of KDC
Blue Cross Blue Shield of Texas Headquarters
Location: Northeast corner of North Central Expressway and Lookout Drive, Richardson, Texas
Size: 1 million square feet on 34 acres
Start date: Third quarter of 2007
Completion date: Early 2010
Owner: Koll Development Company (KDC) will own the new facility and lease it to Blue Cross Blue Shield of Texas (BCBSTX). KDC will also assume BCBSTX’s existing lease obligation at its current 901 South Central Expressway headquarters location.
Developer: KDC
Architect: Dallas-based Corgan Architects and Chicago-based zpd+a
Other companies that contributed to the project: Jeff Ellerman and Mike Sessa with The Staubach Company
“The sheer size of the project at more than 1 million square feet and 4,000 employees makes it very unique. At ultimate build out, the facility can expand to more than 2.3 million square feet and will allow Blue Cross Blue Shield of Texas to consolidate all of their headquarter functions on one
campus.”
— Toby Grove, president of KDC
Energy Center
Location: 585 North Dairy Ashford, Houston, Texas
Size: 9.4 acres; Phase I – 13 stories; 330,000; Phase II – 12 stories; 300,000
Start date: Phase I – October 2006; Phase II – estimated for mid-2007
Completion date: Phase I – December 2007; Phase II – undetermined
Project cost: $135 Million
Owner: I-10 EC Corridor, Limited Partnership (joint venture of Trammell Crow Company and Principal Real Estate Investors)
Developer: Trammell Crow Company
Architect: Hellmuth Obata + Kassabaum, Inc. (HOK)
General Contractor: Manhattan Construction Company
Other companies that contributed to the project:
Haynes Whaley Associates, Structural Engineering; Wylie & Associates, MEP; RG Miller Inc., Civil Engineering
Amenities: Efficient, flexible floorplate; 4 per 1,000 parking ratio; on-site café; fitness center; conference facilities; proximity to high-end hotel; quality location; access; and visibility
“Energy Center is the first large-scale, Class A project in the Energy Corridor since 2000. Energy Center was developed on a speculative basis and features efficient and flexible building design and systems.”
— Aaron Thielhorn, principal, Trammell Crow Company
One Legacy Circle
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Trammell Crow Company’s One Legacy Circle in Dallas will span 214,000 square feet on 8 stories. The project is scheduled for completion in November.
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Location: 7500 Dallas Parkway,
Dallas, Texas
Size: 214,000 square feet, 3.2 acres,
8 stories
Start date: December 2006
Completion date: November 2007
Owner(s): Principal Global Investors and
Trammell Crow Company
Developer: Trammell Crow Company
Architect: HKS, Inc.
General Contractor: Hill & Wilkinson
Amenities: Fiber optic loop system connected to a sonnet ring; backup electrical generator island; premier bank location with pneumatic tube connections and drive-thru lanes; 1,200 to 212,000 square feet of available office space; 27,000-square-foot floor plates; 4 per 1,000 garage parking; pedestrian access to 25 existing and planned restaurants; a new 4-star, 240-room, 10-story boutique hotel with spa and fitness center planned adjacent to the building; spectacular fountain at Legacy Circle; the centerpiece of the North phase is 35 shops and boutiques; more than 3,000 existing and planned residential lofts, urban apartments and town homes
“Located on the Dallas North Tollway, Legacy Circle offers large tenants prominent building signage in this prestigious master-planned Legacy development. One Legacy Circle is bordered by new tollways and freeways, which expedite drive time from any part of the Metroplex and is merely 30 minutes from all major airports. -Cutting edge telecommunications and underground concrete encasements are utilized for ultimate power and data security.”
— Dave Noble, senior vice president development, Trammell Crow Company
Granite Westchase II
Location: 10350 Richmond,
Houston, Texas
Size: 318,557 square feet, 2.8 acres,
14 stories
Start date: December 2006
Completion date: April 2008
Owner: Granite Properties
Developer: Granite Properties
Architect: Kirksey
General Contractor: Hoar Construction
Other companies that contributed to the project: Lin Engineering, Inc., Haynes Whaley Associates, Inc., DBR Engineering Consultants, Inc., Kudela & Weinheimer
Amenities: LEED-Certified, double pane insulated Vericon reflective glass; accessibility to Richmond and Beltway 8; 100 percent garage parking; two-story building lobby atrium; food service; 24-hour uniformed security; dual feed electrical service; 9-foot floor-to-ceiling heights; six high-speed elevators with separate freight elevator; on-site management and building engineer; numerous area restaurants and hotels
“The Westchase submarket remains one of the strongest, most active and well-leased submarkets in Houston, and the addition of Granite Westchase II will provide an excellent opportunity for the areas growing tenant base and an attractive alternative for companies relocating to West Houston.”
— Greg Fuller, chief operating officer, Granite Properties
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