HOUSTON – (Realty News Report) – The entirety of the new headquarters campus of Hewlett Packard Enterprise in north Houston has been acquired by a company affiliated with developer CDC Houston.
CDC Houston, developer of the 2,000-acre City Place, effectively acquired the interests of its partners in the HPE buildings – Patrinely Group and USAA Real Estate.
The transaction comes after another major announcement in City Place earlier this month. Exxon Mobil is relocating its global headquarters to the Exxon campus a few blocks away from the HPE campus.
The Class AA+, LEED Silver HPE campus, located at 1701 East Mossy Oaks Road, consists of two, five-story buildings connected by bridges at each level. Scheduled to open later this month, the project developed by Patrinely Group, USAA Real Estate and CDC Houston and leased to HPE on a long-term lease, encompasses 440,000 rentable SF, indoor and outdoor amenities, including a fully landscaped roof terrace overlooking a large central courtyard.
CDC Houston is a subsidiary of Coventry Development Corporation of New York.
“Reaching this campus milestone is a testament to the strength and capabilities of our partnership with Patrinely Group and USAA Real Estate, which has proven itself time and again in its abilities to thoughtfully and efficiently deliver large scale, premium projects in a location that has become one of Houston’s top corporate campus hubs,” said Robert Asselbergs, President of Coventry Development Corporation. “We are excited about this purchase, which not only buoys the JV, but also reinforces our long-term commitment to the increasingly vibrant City Place.”
City Place, located in northernmost Harris County near Interstate 45 and the Grand Parkway, includes office space, multifamily, single-family, hotels and retail.
In addition to the HPE campus,, the Patrinely Group, USAA Real Estate and CDC Houston joint venture has developed 1.5 million SF of commercial office and retail within the urban core of City Place, including the global headquarters for American Bureau of Shipping, two multi-tenant office buildings, a free-standing 24 Hour Fitness Super Sport Gym, and a 10-screen Star Cinema Grill. The joint venture has plans to develop another 2.5 million SF of commercial office, retail and residential in the City Place urban core.
“It is remarkable that in the same month, City Place is jointly celebrating the debut of HPE’s global headquarters and Exxon Mobil’s announcement to relocate its global headquarters here,” said Robert Fields, President and CEO of Patrinely Group. “We believe it’s not only a testament to Houston’s workforce and pro-business environment, but also to the strength of City Place as an 18-hour mixed-use destination and an anchor for commerce, culture and community in north Houston.”
City Place, formerly called Springwoods Village. offers its residents and a new daytime workforce of 21,000 employees, numerous amenities such as programmed green space, miles of trails, waterfront park, three hotels, several multifamily apartment options and an expanding roster of specialty and first-to-market restaurants, retail and entertainment uses.
The first major transaction in the City Place/Springwoods Village was Exxon Mobil’s acquisition of 385 acres about 10 years ago – a market-changing move which was first reported in an exclusive story in Realty News Report.
Feb. 16, 2022 Realty News Report Copyright 2022.
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Photo Credit: Patrinely Group
File: Sold: HQ Hewlett Packard Enterprises
File: (2) HPE. Sold: HQ Hewlett Packard Enterprises in City Place. Springwoods Village. USAA, Patrinely Group, CDC Houston, Coventry