HOUSTON – (Realty News Report) – CBRE has arranged a 64,018 SF headquarters relocation and expansion for Surge Energy US Holdings Company in Houston, where office leases by energy firms have increased in 2022.
With this lease at Westway Plaza, which is located two miles northwest of Houston’s Energy Corridor, Surge Energy has added 25,000 SF to its corporate office footprint.
Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. Established in 2015, Surge Energy currently holds approximately 114,000 acres in the Permian Basin. Between Houston and its two field offices located in the Texas towns of Ackerly and Lorenzo.
Surge Drills 500 Wells; Adds to Work Force
Surge Energy’s work force has grown to nearly 200 people, with over 100 working in Houston. The company has drilled over 500 wells and produced over a 100 million gross barrels of oil equivalent since inception.
“As Surge Energy has grown, its executive team has been looking for ways to provide a better and more collaborative workplace for its employees. This relocation to Westway Plaza will do just that,” said Kevin Saxe, Senior Vice President at CBRE. “As a true Class A building with first-class ownership and
operations, Westway Plaza provides a mix of amenities, an exceptional location, and a wonderful environment for Surge to continue to prosper.”
Energy Firms Leasing More Space in Houston
Office tenants in the Houston market have shown a returned commitment to the office in the second quarter of 2022, resulting in a 21.5 percent increase in leasing activity quarter-over-quarter according to the CBREResearch. New leases and expansions accounted for 67 percent of transaction volume in the second quarter, with tenants in the energy industry making up nearly half of the quarter’s leasing volume.
Surge Energy is relocating from Heron Lakes Office Park. Surge Energy company’s new landlord at Westway Plaza, 11330 Clay Road, is TAF Westway Plaza, LLC.
“Surge Energy is looking forward to moving into upgraded office space early next year,” said Linhua Guan, CEO of Surge Energy. “Surge’s people are its greatest asset, and we are happy to be providing an improved office environment for the team to enjoy.”
CBRE Group, a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm. The company has more than 105,000 employees.
Aug. 29, 2022 Realty News Report Copyright 2022
File: Surge Energy Leases Headquarters Space Near Energy Corridor
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