Skanska has announced that it has retained JLL as the exclusive leasing agency for its West Memorial Place development, a premier 12-acre office campus situated along Terry Hershey Park in Houston’s Energy Corridor.
The campus includes two sustainable Class-A office towers - LEED® Platinum West Memorial Place I, measuring 331,000 square feet, and West Memorial Place II, measuring 385,000 square feet, which is expected to achieve LEED ® Platinum certification in the coming months. This will make West Memorial Place the first speculative LEED® Platinum campus in Houston, consuming more than 30 percent less energy than typical baseline buildings.
“The decision to partner with JLL at West Memorial Place was based on their in-depth knowledge and experience in Houston’s commercial real estate sector,” said Matt Damborsky, executive vice president for Skanska USA Commercial Development. “Their brokerage team features some of the industry’s most experienced, who are well-connected throughout West Houston. We look forward to working with them to attract a strong mix of tenants interested in this premier location in the Energy Corridor.”
The development was completed in two phases, with West Memorial Place I completing construction in 2015 and West Memorial Place II following in 2016. Currently, Phase I is 55 percent leased and Phase II is 45 percent leased.
JLL Senior Vice President Bubba Harkins and Vice President Russell Hodges will lead the leasing and marketing efforts for West Memorial Place in partnership with Skanska.
“West Memorial Place offers tenants a superior office environment and connectivity to the outdoors that is not found elsewhere in Houston,” said Harkins. “The thoughtful and intelligent design of West Memorial Place is sure to provide tenants with an unparalleled office experience. We are excited to partner with Skanska to share this exceptional property with the market.”
West Memorial Place is uniquely positioned among large corporations in the Energy Corridor, and is located directly adjacent to Terry Hershey Park and its many miles of hike and bike trails. The campus boasts top-of-the-line amenities like a fitness center fitted with locker rooms and showers, as well as an on-site café, car wash services and a one-of-a-kind bike share program allowing tenants easy access to the connecting park.
West Memorial Place was constructed around a number of sustainable features, including waste diversion and energy recovery. The state-of-the-art offices feature a mixture of stone and floor-to-ceiling glass walls, as well as thermal insulation to help reduce heat gain while still providing an abundance of natural light. The buildings also use an energy recovery wheel, which pre-cools fresh air before it is transferred through the mechanical system. This requires less energy to cool and condition the buildings.
Skanska’s other Houston-area projects include the planned Capitol Tower development, a 35-story, 750,000-square-foot office tower set to be developed on a prime block in Downtown Houston. Reflecting Skanska’s commitment to sustainability, Capitol Tower is the only office development in Houston to achieve LEEDv4 Platinum pre-certification. Also under development is Spring Crossing, a 3-phase, Class-A development with 850,000 square feet of office space near the Woodlands, providing an excellent alternative for tenants interested in the emerging North Houston submarket.
Skanska USA is one of the largest, most financially sound construction and development companies in the U.S., serving a broad range of clients including those in transportation, power, industrial, water/wastewater, healthcare, education, sports, data centers, life sciences, aviation and commercial. Headquartered in New York with offices in 31 metro areas, we have nearly 11,000 employees committed to being leaders in safety, project execution, sustainability, ethics and people development. In 2015, our work in building construction, civil and power/industrial construction, commercial development and infrastructure development (public-private partnerships) generated $7.1 billion in revenue. Since 2009, the company has invested approximately $1.5 billion to self-finance the development office and multi-family projects for such clients as Brooks Sports, PwC and Tommy Bahama. Global revenue of parent company Skanska AB, headquartered in Stockholm and listed on the Stockholm Stock Exchange, totaled $18.4 billion in 2015. Skanska shares are publicly traded in the U.S. on the OTC market under the symbol SKBSY through a Level I American Depository Receipt program.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. AFortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
