HOUSTON–CBRE and Principal Real Estate Investors have embarked on a $5 million renovation project at 20 Greenway Plaza that has attracted three new tenants.
In the coming months, Mitsubishi Heavy Industries America, Inc., RealEC Technologies and Mercuria Energy Trading Group will occupy a combined 77,000 square feet within the class A building, which is located in the Greenway/Upper Kirby submarket near Highway 59 and Loop 610.
Mitsubishi Heavy Industries, a company engineering electrical and mechanical equipment, has leased 12,000 square feet to accommodate its growing presence in Houston. The space will serve as a relocation from the company’s corporate office space in Austin. Mitsubishi Heavy Industries was represented by Jon Lee with CBRE.
RealEC Technologies, a supplier of software in the real estate mortgage industry, is relocating from the Westchase District and will be leasing 38,000 square feet at 20 Greenway Plaza. RealEC was represented by Bill Wolff with DTZ.
Additionally, Mercuria Energy Trading Group has signed a lease committing to 27,000 square feet in the building, which will accommodate the company’s recent need to expand its operations. Mercuria was represented by Chris Oliver with Cushman and Wakefield.
“The unique qualifying attributes of 20 Greenway Plaza, the changing neighborhood and Principal Real Estate Investors’ commitment to reinvest in the asset, are important pieces in our ability to offer the tenants of the Greenway submarket an attractive real estate solution,” said Cody Armbrister of CBRE.
The renovations at 20 Greenway Plaza are scheduled for completion in September. Key elements of the project will include updated landscaping, upgrades to the building’s interior and exterior graphics, improvements to parking garages, a new fitness center and a remodeling of the lobby, common areas and restrooms.
With these three new leases, the building will be 85% occupied. Armbrister and Steve Rocher of CBRE are leasing 20 Greenway Plaza on behalf of Principal, which owns and operates the building.