A joint venture among Patrinely Group, USAA Real Estate and CDC Houston today announced the first office lease at CityPlace 1 at Springwoods Village with Arroyo Energy Investors. Located at 1700 City Plaza Drive, Spring, TX 77389, CityPlace 1 is the first multi-tenant office building constructed in CityPlace at Springwoods Village and totals 149,500 square feet.
“We are pleased to announce our first office lease in CityPlace 1 with Arroyo Energy Investors,” said Robert Fields, President and CEO of Patrinely Group. “With ABS headquarters, Marriott CityPlace and the HP Inc. campus complete, along with Star Cinema Grill and 24 Hour Fitness coming soon, we are excited to bring more employees to this unique, walkable, mixed-use destination.”
Arroyo Energy Investors is moving from its office in The Woodlands and will occupy 9,426 square-feet on the fourth floor of CityPlace 1, which will include 122,500 square feet of office space and 27,000 square feet of ground floor retail space. The building features floor-to-ceiling windows, elevated terrace and garden areas, ample parking and a covered pedestrian connection between the office lobby and parking structure. The building was designed to achieve LEED Silver certification. Arroyo Energy Investors was represented by Jason Tangen of Colliers International. Chrissy Wilson and Russell Hodges of JLL, under the direction of Patrinely’s Dennis Tarro, represented the Landlord.
“Today’s announcement marks an important step toward a complete community, as we continue to create an unparalleled new employment hub for companies of all sizes,” said Warren Wilson, Executive Vice President of CDC Houston, the master developer of Springwoods Village. “This multi-tenant building is ideal for small to medium size tenants and is prominently located in the heart of CityPlace.”
CityPlace is a 60-acre, fully-integrated, mixed-use development, providing the growing area along the Grand Parkway corridor near the ExxonMobil campus with a new destination of choice, integrating working, shopping and living. When fully developed, the project will include up to 8 million square feet of Class A office space with 500,000 square feet of integrated retail space and additional luxury multifamily. CityPlace is the commercial urban center of Springwoods Village and home to four major corporations including HP Inc., Southwestern Energy (SWN), American Bureau of Shipping (ABS) and the future home of Hewlett Packard Enterprise.
“As our Houston office continues to grow, we are looking for ways to offer convenient, first-rate workspaces to our team. Our decision to build a presence in CityPlace makes sense for our expanding group of investment professionals and advisors,” said David Field, Founding Partner of Arroyo Energy Investors.
Springwoods Village is a 2,000-acre mixed-use, master-planned community currently under development in Spring, TX. Located at the confluence of Interstate 45, Hardy Toll Road and the Grand Parkway, the community is home to ExxonMobil, HP Inc., ABS, and Southwestern Energy corporate campuses, several residential communities, a Kroger-anchored retail center, a 150-acre Nature Preserve and more. When completed the sustainable residential and commercial community will provide diverse housing options, civic facilities, outdoor recreation and a 60-acre CityPlace with office space, shopping, dining and lodging in an urban, walkable environment.