HOUSTON-Skanska USA has signed its first tenant for West Memorial Place in the Energy Corridor submarket. Petroleum Geo-Services leased 122,000 square feet, triggering groundbreaking of the building this month.
West Memorial Place will go north on 21 acres at 15375 Memorial. The developer acquired the site, which formerly held the Arco building, in February 2012 from Allstate Insurance Co. Skanska USA's all-in costs for the project (including redevelopment of the site for the new building) are $94 million. Completion is anticipated for Q1 2015.
Skanska's leasing team represented Skanska USA Commercial Development and Steve Hesse and Paul Penland of CBRE represented PGS.
The building, which is targeting a minimum of Leadership in Energy and Environmental Design Gold certification, is expected to consume 25% less energy than typical baseline buildings. Sustainable features include a mechanical system with demand-controlled ventilation and an energy recovery wheel providing energy efficiency and tenant convenience.
Skanska USA Commercial Development recently completed 3009 Post Oak Blvd, a LEED® Platinum pre-certified office building in the Galleria area and is planning a development downtown at the former Houston Club site.
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