Recent Cap Improvements Were Key in Attracting a Tenant of Kiewit’s Caliber
Kiewit Engineering Group Inc. has leased 171,266 square feet at Energy Center I at 585 N. Dairy Ashford in Houston’s Energy Corridor submarket, and the move is planned for July 2020.
HOUSTON—Kiewit Engineering Group Inc. has leased 171,266 square feet at Energy Center I at 585 N. Dairy Ashford in Houston’s Energy Corridor submarket, according to Transwestern Commercial Services. Kiewit’s move is planned for July 2020 and it is the only tenant in Energy Center I as of now.
Energy Center I is a 334,367-square-foot 13-story building constructed in 2007 and designed to accommodate 800 people. Spear Street Capital purchased the building in 2017, recognizing the building’s key fundamentals including visibility, prime location on the northeast corner of Interstate 10 and Eldridge Parkway, multiple points of access to major thoroughfares, efficient rectangular floor plates, and parking capacity. Spear Street recently completed $3.5 million in capital improvements within the building.
The facility is now 52% leased and has approximately 160,907 square feet of office space for lease. Since the completion of the renovations, the building has drawn significant interest in the available space.
“The comprehensive renovation and new amenity program were a key factor in attracting a tenant of Kiewit’s stature,” Transwestern’s Eric Anderson tells GlobeSt.com. “In addition to the aesthetically enhanced lobby experience, tenants will enjoy new amenities including a state-of-the-art fitness center with luxury locker rooms, a coffee bar with casual seating, a café concept equipped for prepared food service, and a tenant conference center sized to accommodate large meetings. Energy Center I presents the total package of amenities and prime location, and is a perfect match for Kiewit’s new oil and gas headquarters.”
Louie Crapitto of JLL and David Kimball of Savills provided tenant representation services. Transwestern’s Anderson, Tyler Garrett and Katy Gragg provided agency leasing services on behalf of the landlord, Spear Street Capital.
The build-out architect was HOK and the general contractor was Harvey Construction. For Spear Street’s renovations, the architecture firm was Ziegler Cooper and Burton was the general contractor, GlobeSt.com learns.