HOUSTON—Piedmont Office Realty Trust announced on Wednesday that it plans to build Enclave Place, a 302,000-square-foot, 11-story Class A office building in the Enclave Business Park.
The park is located south of Interstate 10 and between North Eldridge Parkway and Briar Forest Drive in the Houston energy corridor. Construction is expected to begin in March 2014 and the project is targeted for completion during the second quarter of 2015.
The building will be constructed on a 4.7-acre development site adjacent to Piedmont's 1430 Enclave Parkway building in the Enclave Business Park, which is home to Sysco, Schlumberger Technology, Technip, Dow Chemical and Gulf States Toyota. Enclave Place will also include a six-level parking garage.
“We are very excited about this Houston development project, as it is located in one of the top office leasing markets in the U.S.,” said Donald A. Miller, CFA, president and CEO for Atlanta-based Piedmont Office Realty Trust. "We intend to capitalize on the vitality of the market, due in large part to its burgeoning oil and gas businesses, and convert our well-located land into a growth vehicle—both from an income and a value standpoint—for our investors."
The development team consists of Piedmont's Bob Wiberg, Joe Pangburn and Jason Williams, along with Gensler, architect; PMRG, project manager; and Tellepsen Builders, general contractor. Colvill Office Properties will be responsible for leasing the project.
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