The HPE development will be located at the corner of East Mossy Oaks Road and Lake Plaza Drive.
SPRING, TX—Plans are in the works to develop Hewlett Packard Enterprise's/HPE new campus in CityPlace, the commercial urban center of Springwoods Village, a 2,000-acre master planned community. This development will house the fourth major corporation located in the center, joining HP Inc./HPI, Southwestern Energy and the American Bureau of Shipping.
The project is being developed by a joint venture of Patrinely Group, USAA Real Estate and CDC Houston. Scheduled to break ground in the fourth quarter of 2019, the HPE development will consist of two buildings located at the southwest corner of East Mossy Oaks Road and Lake Plaza Drive, and include approximately 568,000 square feet of rentable space.
A primary location for core research and development, the HPE Houston site also supports customer engagement, sales operations, supply chain and other global functions for the company including finance, HR and marketing. Amenities may include a fitness center, café and an adjoined open courtyard space. The HPE development is planned to achieve LEED certification when it is completed in late 2021.
“The city of Houston remains a top location for Hewlett Packard Enterprise,” shares Antonio Neri, president and CEO of Hewlett Packard Enterprise. “We asked our employees what they were looking for in a new site. They wanted a vibrant setting, easy access to amenities and major highways, and a location close to their homes. CityPlace checked all of those boxes for us.”
Ronnie Deyo and Beau Bellow of JLL represented HPE. Dennis Tarro of Patrinely Group, and Chrissy Wilson and Russell Hodges of JLL represented the landlord.
“The opportunity to develop HPE's campus is a testament to the attractiveness of CityPlace. We are creating a unique, walkable mixed-use destination,” says Robert Fields, president and CEO of Patrinely Group, the managing partner of the joint venture. “With ABS headquarters and the HP Inc. campus opening before the end of the year, along with Star Cinema Grill and 24-Hour Fitness coming next year, the addition of HPE is a major milestone and reinforces the strength of this new urban center in north Houston.”
CityPlace is a 60-acre mixed-use development providing the growing area along the Grand Parkway corridor near the ExxonMobil campus with integrating working, shopping and housing/hotels. When fully developed, the project will include the recently opened full-service Houston CityPlace Marriott, 4 million square feet of class-A office space with 400,000 square feet of integrated retail space and additional multifamily projects. The development's five- to 10-story class-A office buildings will offer parking at a ratio of up to 4.5 cars per 1,000 rentable square feet with spaces located in all structured parking.
“There is a massive amount of square footage in Houston today,” Fields tells GlobeSt.com. “Companies are making the strategic decision to relocate to CityPlace because of its access to major freeways and live/work/play environment. Most users are looking for this today. It's an active destination/workplace with retail, fitness, entertainment and hotel in a single environment.”
The “live” component includes the Mark at CityPlace Springwoods Village, a six-story 268-unit apartment project that was completed in spring of 2017. Additionally, the venture recently announced the start of construction for CityPlace 1, which has 122,700 square feet of office and 26,900 square feet of ground-floor retail available for lease, located directly across from a 1-acre public plaza.
“We are very pleased with the continued momentum of Springwoods Village as CityPlace becomes the new urban center in north Houston,” said Warren Wilson, executive vice president of CDC Houston, the master developer of Springwoods Village.
HP Inc. focuses on the printing and PC business segments, while HPE focuses on the technology solutions segments, spanning the cloud to the data center to workplace applications.
Houston's office market recorded a decrease in total vacancy in third quarter 2018, breaking a 14-quarter streak of rising vacancy, according to a JLL report. Total office vacancy decreased from 24.5% in second quarter to 24.2% in third quarter. Moreover, net absorption was a positive 435,000 square feet, says the report.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
