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Westchase Office Tower Refinanced as COVID-19 Hangs Over Houston Market

HOUSTON – (Realty News Report) – Two CityWest Place, a 20-story Class AA office property in Westchase has been refinanced. The 443,549-SF building located on the west side of Beltway 8 is owned by Parkway Property Investments. JLL worked on behalf of the Parkway to secure the five-year, floating-rate loan. Regions Bank led the loan and syndicated half with Citizens ... Read More »

Cushman & Wakefield Acquires Colvill Office Properties

HOUSTON – (Realty News Report) – Cushman & Wakefield announced Wednesday that it has acquired Colvill Office Properties, a Houston-based provider of office agency leasing services. Colvill Office Properties currently directs leasing and marketing efforts for 17 million SF of Class-A office space in Houston, including the 1 million SF Texas Tower project under construction by Hines in downtown. “As ... Read More »

Drilling Contractors Association Signs HQ Lease in Westchase

HOUSTON – (Realty News Report) – The International Association of Drilling Contractors leased 18,920 SF for its headquarters in the new, eight-story Lockton Place building, 3657 Briarpark Drive in Westchase. The association, founded in 1940, will move its headquarters from 10370 Richmond in the third quarter. JLL’s Chad Barker and Matt Sanderson represented the Drilling Association. JLL’s Russell Hodges and ... Read More »

Two-Story Westchase Retail Center Sold

HOUSTON – Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of Briar Lake Village, a 36,607-square-foot, two-level retail center in Houston’s Westchase District. HFF marketed the property on behalf of the seller, Berkeley Land Co.  Briar Lake Village Inc. purchased the property for an undisclosed price. In 2007, HFF brokered the sale of the property to the seller. Briar ... Read More »

Unilev Buys Building in Houston’s Westchase

HOUSTON – Unilev Capital Corporation purchased 1500 CityWest, a 192,313-square-foot, Class A ten-story office building located in Houston’s Westchase submarket. The property is located at the intersection of CityWest Boulevard and Briar Forest Drive, near the West Sam Houston Parkway. JLL Capital Markets represented the seller, Metro National with Rudy Hubbard, Vice President Kevin McConn and Associate Rick Goings led ... Read More »

Patrinely/USAA Developing Westchase Apartment Project

HOUSTON – Crimson Real Estate Fund and USAA Real Estate Co. have announced plans to develop a 266-unit apartment project in in the Westchase submarket of Houston, near Westheimer Road and the Sam Houston Parkway. A Crimson affiliated company, Patrinely Group, headquartered in Houston, is developing the new complex on three acres of land next to the 2500 City West ... Read More »

Bahrain-based Investcorp Selling Westchase Building for $110 Million

HOUSTON – Investcorp, a Bahrain-based investment firm, is seeking to sell  One Westchase Center, a 466,000 square-foot office building in West Houston, according to Real Estate Alert newsletter. The building could sell for as much as $110 million, which would represent a handsome profit over the $80 million it paid for the building only a year and a half ago, ... Read More »

Phillips 66 Breaks Ground on 1.1 Million SF Headquarters Campus in West Houston

HOUSTON – Phillips 66 broke ground Friday on its 1.1 million sf headquarters campus in the Westchase District in West Houston, where a large number of energy companies have offices. The project is being built on 14 acres on the west side of the Sam Houston Tollway, just north of Westheimer, at the corner of City West Blvd. and City Place. ... Read More »

Cameron Developing Major Corporate Campus in Houston’s Westchase District

HOUSTON – Cameron International, a Houston-based oilfield services and equipment firm, is planning a massive corporate campus with multiple office buildings along Beltway 8 in the Westchase District on Houston’s west side. On its Westchase site, Cameron International is expected to construct multiple office buildings with more than 1 million square feet of space, which is equivalent to a downtown ... Read More »

Statoil Leases 581,000 sf in Houston’s Westchase

HOUSTON – Statoil Gulf Services, part of Norwegian energy titan Statoil ASA, leased 581,000 sf as their North American headquarters at CityWestPlace in Houston’s Westchase District. The landlord is Thomas Properties Group. Statoil will occupy the entirety of CityWestPlace Building 2, comprising 431,000 sf, as well as extend their existing lease for 150,000 sf in CityWestPlace Building 4. Statoil currently ... Read More »

Hotel Planned for Westchase Area of Houston

HOUSTON –  A prominent site in the Westchase District of west Houston, where a number of energy firms have been expanding, has been purchased for hotel construction. Hans Lindberg has purchased 2.3 acres of land located at the northwest corner of Westpark and Beltway 8 from Serena Holdings LLC  for the construction of  four-story, 121-room TownePlace Suites by Marriott.  Mark Davis of Davis ... Read More »

Granite to Build Spec Office Building in Houston’s Westchase

HOUSTON —  Granite Properties will break ground this summer on a 300,000-sf spec office building at 3141 Briarpark in Houston’s Westchase District, according to a report in the Houston Business Journal. The project will be LEED Gold, Granite’s Scott Martin told the HBJ. The building is designed by PGAL Architects. Hoar Construction is general contractor. Houston’s office market has experienced strong absorption ... Read More »

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