In a significant move for the energy sector, McDermott, a well-established engineering and construction solutions provider, has signed a lease for 50,000 square feet of office space at Westgate II in Houston’s Energy Corridor.
This new office will accommodate 254 employees, showcasing McDermott’s commitment to its workforce by situating them on the top floor of the building.
The new facility will be equipped with 162 workstations, 66 offices, two expansive breakrooms, a wellness room, coffee coves, collaboration spaces, and 10 conference rooms.
This expansion adds to McDermott’s existing project-focused space at Energy Center 5, providing a modern and collaborative environment for its employees.
Tyler Garrett and Christian Canion from JLL facilitated the leasing and marketing for Westgate II on behalf of the landlord, reinforcing JLL’s prominence in the Houston commercial real estate market.
Founded in 1923, McDermott operates in over 54 countries and boasts a workforce exceeding 30,000 employees, highlighting its global reach and capability within the energy industry.
In personnel news, Skanska has announced the promotion of Mark Elpers to vice president and account manager for Skanska USA Building in Houston.
With a rich experience spanning over 30 years, Elpers has made significant contributions to commercial office, light industrial, and higher education construction projects at Skanska.
He has overseen projects totaling more than $800 million across Texas and most recently served as the project executive of the renowned Norton Rose Fulbright Tower at Discovery Green in Houston.
Elpers’ career at Skanska began in the civil division in Evansville, Indiana, where he advanced to vice president of operations over 23 years.
Additionally, PDR, a consulting, design, and architecture firm based in Houston, has appointed Amy Collins, Doug Hellmann, and Marc Bellamy as co-managing principals, following the retirement of former President and CEO Lauri Goodman Lampson.
Collins will focus on design and strategy leadership from the Austin office, while Hellmann will oversee operations and select accounts.
Bellamy will take charge of business development and select accounts, fortifying PDR’s leadership team as it moves forward.
In the sales sector, Starwood Property Trust has sold the impressive 1.2 million square foot skyscraper located at 5555 San Felipe to Energy Transfer, a prominent pipeline and gas company.
Once known as the Marathon Oil Tower, this property was previously considered for conversion into residential use after Marathon Oil vacated it in 2021, having occupied 60% of the building.
Starwood gained ownership through foreclosure in 2022, subsequently halting the marketing of its 800,000 square feet of vacant space for rent last year, leading to its removal from Houston’s office inventory by CBRE.
Energy Transfer plans to occupy the property on a long-term basis, signaling confidence in its future potential.
In other leasing news, Westlake Corp., a public chemicals company, is relocating its headquarters to eight floors at 5444 Westheimer, just a mile from its current position.
This strategic move aims to consolidate Westlake’s operations by unifying offices located on Post Oak Boulevard and non-lab offices situated in Stafford.
Tanglewood Property Group, the owner of 5444 Westheimer, had Dean Wilkens representing them in-house, while Westlake Corp. was represented by Charlie Neuhaus from Partners Real Estate.
In construction and development, The NHP Foundation, a nonprofit organization focused on providing affordable housing, proudly celebrated the grand opening of RoseMary’s Place.
This $45 million community, located at 3300 Caroline St. in Midtown Houston, adds 149 units dedicated to helping individuals transitioning from homelessness.
The project, launched in February 2023, was accomplished through a public-private partnership and includes two floors of efficiency apartments along with permanent supportive housing services in collaboration with Magnificat Houses Inc.
Furthermore, EastGroup Properties is making strides with the construction of a new 97,000 square foot Class-A industrial warehouse within the Grand West Crossing business park in Katy.
The facility, named Grand West Crossing Building 2, broke ground in January and is expected to be completed in June or July of this year.
This development is part of a larger plan that includes six planned buildings in the Grand West Crossing business park.
Marketing and leasing are being handled by JLL’s Richard Quarles, Jarret Venghaus, Geoff Perrott, and Eliza Klein on behalf of EastGroup.
Lastly, in financing news, Greystone has successfully arranged a $14 million line of credit to refinance a 68-unit build-to-rent community in Houston.
This BTR aggregation facility was arranged by Shaya Ackerman and Steven Treitel of Greystone, contributing to the thriving housing market in Houston.
The newly constructed Sandrock Gardens community spans 14.5 acres, featuring units with three bedrooms, two bathrooms, and two-car garages, catering to growing housing demands in the area.
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