HOUSTON-WildHorse Resources has expanded and extended its lease at 950 Echo Lane in the Memorial submarket. The firm, which operates in the oil and gas industry, inked a two-year lease extension for 19,985 square feet, nearly quadrupling its presence from 5,307 square feet.
“WildHorse Resources is growing quickly,” says David Baker with Transwestern’s local office. He represented the landlord, 950 Echo Lane Ltd., in lease negotiations along with Transwestern’s Kristen Baker and Kelli Crutchfield. WildHorse Resources was represented by Jones Lang LaSalle’s Lucian Bukowski.
David Baker tells GlobeSt. that WildHorse Resources has been a tenant in the 58,811-square-foot, class A building for just under 12 months. “When they came to the property, they wanted to be located on a floor that had a lot of vacant space because they anticipated they would be in a growth mode,” he explains. The firm now occupies the entire second floor of the three-story building.
“Typically we would not break a full floor for a smaller tenant, but we had a good feel about the company when they were looking for space, and we bought into the idea that they were in a growth mode,” David Baker says. “We’re glad we did.”
WildHorse Resources is planning a staged move-in and will move into a portion of its new space next month. It plans to be fully moved in within six months. “We’re glad this boutique building worked for them and excited that they decided to expand and extend for a longer term,” says Kristen Baker.
With WildHorse Resources’ expansion, the 1980s-era building is 93% occupied.
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