THE WOODLANDS – (Realty News Report) – Hughes Landing, a 79-acre mixed-use development in The Woodlands, has reported over 60,000 SF of office leasing activity.
Hughes Landing, located about 27 miles north of downtown Houston, illustrates a national trend.
As companies continue to encourage employees to return to the office in the post-Covid era, suburban locations have been more appealing to many corporate decision makers, said CBRE Global Chief Economist Richard Barkham in recent remarks at the NAREE conference for real estate journalists.
The entire Houston metropolitan area has a total occupancy rate of 76 percent, Colliers reported. By comparison, at 89 percent leased, The Woodlands office portfolio for Howard Hughes continues to outperform most of the Houston office market, a trend Howard Hughes attributes to “the demand for quality office space located within amenity-rich environments.”
The area submarket for The Woodlands includes 17.7 million SF, with some 14 million of that rated Class A space, according to Colliers. Through the third quarter, The Woodlands submarket had 225,000 SF of positive absorption.
“The success we continue to experience at Hughes Landing is a reflection of the meticulous thought and effort we have put into creating a vibrant community that offers unique and engaging experiences for residents and employees alike,” said Jim Carman, President, Houston Region for Howard Hughes, the developer of The Woodlands, a 28,000-acre master planned community
New office leasing in Hughes Landing includes:
Waste Connections Expands Presence with New Regional Office – North American integrated waste services company Waste Connections already calls The Woodlands home, occupying 116,817 SF at 3 Waterway for its US corporate headquarters. With the company’s continued growth, Waste Connections will be taking an additional 27,390 SF at Three Hughes Landing, further solidifying the firm’s confidence in the master planned community as a place to operate its business. Waste Connections, located in The Woodlands since 2016, was represented by Jason Whittington with Partners.
Weaver Relocates Office for More Collaborative Growth – Houston-based national certified public accounting firm Weaver is moving into an 11,087-SF office at One Hughes Landing. Citadel Partners’ Managing Partner Scott Morse and Senior Advisor Katherine Jessen represented Weaver in the transaction.
Design Tech Homes Establishes New Design Center in The Woodlands – Design Tech Homes, a family-owned custom home builder, is leasing 11,020 SF at Two Hughes Landing. Design Tech Homes was represented by Michael Evans and Mitchell Oxman with MHW Brokerage Services, LLC.
GreenDot Opens North American Headquarters at Hughes Landing . – Plastic recycling solutions provider GreenDot is aiming to expand its North American operations by establishing a new 6,707-SF space to accommodate 25-30 new employees serving as the company’s North American headquarters at Three Hughes Landing. GreenDot was represented by Neal King with SVN J. Beard Real Estate.
Beusa Energy LLC, Sealube Marine and DME Express LLC – Beusa Energy LLC signed an expansion of 4,112 SF for its finance and accounting department at Three Hughes Landing, expanding its square footage to a total of 23,991 SF.
Additionally, Sealube Marine entered into an agreement for a 3,046-SF lease at One Hughes Landing, and DME Express LLC agreed to a 2,720-SF lease at Three Hughes Landing.
Beusa Energy LLC was represented by Cindy Morris with Morris Realty, LLC. Sealube Marine was represented by Neal King with SVN J. Beard Real Estate. DME Express LLC was represented by James Brown with Ineto Real Estate Services.
Howard Hughes was represented by JLL’s Scott Fikes and Jack Russo for the lease transactions with Waste Connections, Design Tech Homes, Beusa Energy LLC, Sealube Marine, and DME Express LLC.
Colliers’ Executive Vice President Norm Munoz and Senior Vice President Jillian Fredericks represented Howard Hughes in the Weaver and GreenDot transactions. Colliers Chairman and Principal Bob Parsley has leased a significant amount of office space in The Woodlands, including the original lease-up of the One Hughes Landing, which topped out in 2013.
In its third quarter update, Colliers reported that Talen Energy leased 6,700 SF in the 1725 Hughes Landing building.
Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH.
Complementing its office portfolio, Hughes Landing features dining options along Restaurant Row, shopping anchored by Whole Foods Market and in the hospitality sector it has an Embassy Suites by Hilton.
(Correction: Colliers represented Howard Hughes in leasing space to GreenDot. An earlier version of this story misidentified Howard Hughes’ representatives.)
Dec. 21, 2023 Realty News Report Copyright 2023
Photo courtesy Howard Hughes Holdings
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File: 60000 Square Feet of Leasing in Hughes Landing