"District 7's strong Houston roots and delicious take on urban American cuisine make them an ideal addition to the Energy Corridor community," said Matt Damborsky, executive vice president for Skanska USA Commercial Development. "Whether you are a tenant at West Memorial Place or a resident living in the Energy Corridor, District 7 Memorial has something for all to enjoy."

JLL represented Skanska and District 7 in the transaction.

"Houston is widely regarded as one of the best food cities in the world. However, we continue to see a greater emphasis on the Inner Loop as compared to outlying areas like the Energy Corridor where dining options may be less extensive," Damborsky tells GlobeSt.com. "Skanska saw the opportunity with West Memorial Place, and its advantageous location among large office complexes and residential areas, to bring in a full-service restaurant that can become a local staple in the community. Along with delicious fare, its proximity to the hike and bike trails, and the spacious outdoor patio are destination-making elements. We are confident that District 7 Memorial's wide range of upscale American cuisine and longstanding reputation in Houston will appeal to the Energy Corridor community for dining."

Located at 15375 Memorial Dr., the development includes two LEED Platinum-certified class-A office buildings: West Memorial Place I measuring 331,000 square feet and West Memorial Place II measuring 385,000 square feet. The buildings consume 30% less energy than typical baseline buildings.

Directly adjacent to Terry Hershey Park, West Memorial Place is positioned among large companies in the Energy Corridor. In addition to a full-service restaurant, the campus boasts amenities including a fitness center, on-site food offerings through Fooda, car wash services and a bike share program. In 2017, the campus also became the fifth Enterprise CarShare location in the Energy Corridor, making it easier for tenants to utilize alternative transportation rather than personal vehicles.

Skanska's other Houston-area projects include the Bank of America Tower development, a 35-story 754,000-square-foot office tower in the CBD. Reflecting Skanska's commitment to sustainability, Bank of America Tower is the first LEED v4 Platinum core and shell-certified project in the United States.

Skanska has built and restored local landmarks in Houston for decades ranging from historic renovations such as the San Jacinto Memorial building on the Houston Community College campus, to the construction of sports facilities including NRG Stadium and healthcare resources such as the expansion of LBJ General Hospital's emergency department.

Supply-demand balance has kept the retail market stable at 5.6% vacant, while average asking rents have increased to new highs, according to a third-quarter report by JLL. Construction in the inner loop is as high as its been in the last 10 years as mixed-use projects abound.