THE WOODLANDS – (Realty News Report) – CBRE announced six new office leases at Wildwood Corporate Centre I & II in The Woodlands. These new leases, totaling 82,754 SF were signed over the last 12 months and have brought the two buildings to 100 percent leased.
Steve Rocher and Jason Presley of CBRE’s Landlord Representation Group in Houston represented the property’s ownership, GeoSouthern Budde Rd., LLC.
“Despite some headwinds in the office market today, leasing momentum has been strong at Wildwood Corporate Centre and we are thrilled to have both buildings at 100 percent leased,” said Rocher, Executive Vice President for CBRE in Houston. “Tenants today are prioritizing a flight to quality in amenity rich areas, and Wildwood provides all of that.”
Wildwood Corporate Centre’s new office tenants have taken space within both buildings, which combined offer approximately 330,000 SF of Class A office space. Among the new lease transactions was a 43,230-SF commitment from Strike Construction, a 19,074-SF commitment from FCC Environmental Services LLC, and a 6,195-SF lease by Daily Grace Enterprises, LLC, all within Wildwood Corporate Center I.
Wildwood Corporate Centre II, CBRE’s leasing team negotiated a 7,815-SF lease with Mears Group Inc., a 3,336-SF commitment from LJA Engineering and a 3,104-SF commitment from USI Insurance Services, LLC.
Built in 2014, Wildwood Corporate Centre I is a three-story, approximately 128,000-SF office building located at 460 Wildwood Forest Drive.
Adjacent is the eight-story, 202,000-SF Wildwood Corporate Centre II, built in 2016. As Wildwood hits 100 percent occupancy, it is noted that the project’s development, construction management and asset management services were provided by Archway Properties.
The Woodlands is a 28,800-acre master planned community located 27 miles north of downtown Houston. The Woodlands is home to more than 118,000 people, and over 68,000 people work in the community.
However, a dark cloud has appeared over The Woodlands/North Houston market. Exxon Mobil’s 3 million SF corporate campus in City Place could release a significant quantity of vacancy next year when Exxon completes the relocation of its global headquarters to City Place from the Dallas suburb of Irving. Exxon has retained JLL to evaluate the HQ campus, which appears to have underutilized office buildings.
Nov. 15, 2022 Realty News Report Copyright 2022
Photo courtesy CBRE
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File: Wildwood Hits 100 Percent Occupancy