HOUSTON—While there are signs of optimism, the recovery will be slow and measured until the energy engine kicks into high gear. There are still several areas limiting the speed of recovery: overall job growth for 2017 is projected to be well below healthy market norms, the petrochemical boom on the east side is waning, and while stabilizing, short-term energy forecasts show limited potential for additional increases through 2017, according to Transwestern. Additionally, the market has a total of 54 million square feet of space marketed as available, with 32 million occurring in class-A properties–a four to five-year supply with job creation at typical levels of 60,000 per year, GlobeSt.com learns.

In the category of space available for leasing, One Park 10 has full floors and spec suites ready for tenants. The 162,909-square-foot office building is located at 16225 Park Ten Place in Houston's Energy Corridor submarket. It occupies 3.27 landscaped acres within the Park Ten office park, and has close proximity to the Katy Freeway.

One Park Ten has 20,500 square foot floorplates and an architecturally distinctive design that creates 17 corner offices per floor. The building features an onsite property management office, deli and a four-level attached parking garage.

Transwestern has been retained by Accesso Partners LLC to provide leasing services. Transwestern's senior managing director Doug Little, associate vice president Evelyn Ward and senior associate Amanda Lee App are leasing the property.

“Transwestern has been a strong performer in leasing our office properties in Austin and San Antonio and we're confident they will tap their vast network of resources and relationships to raise occupancy at One Park 10,” says Michael Adams, director of asset management-Texas for Accesso Partners. “We created a state-of-the-art audio-visual conference center a year ago and are planning to make capital improvements to common areas, corridors, elevator lobbies and restrooms.”

The leasing team points to the building's well-located position in the Energy Corridor, indicating that it is also a candidate for make-ready spaces.

“Our goal is to lease up the building. While aggressive sublease options and vacant buildings remain a hurdle, we are positioning 16225 to rise to the challenge,” App tells GlobeSt.com. “We have full floor options as well as several spec suites ready to go in the 1,500- to 4,000-square-foot range. Our primary focus is on stabilized tenants that want a long-term home in the Energy Corridor.”

The leasing team points to the building's well-located position in the Energy Corridor, indicating that it is also a candidate for make-ready spaces.

Instant Insights /

Class-A Space Equals Four- to Five-Year Supply

Related Stories

Recommended For You