The Energy Corridor in west Houston is one of the most in-demand commercial areas in Texas, and maybe the country, thanks to the city’s booming oil and gas business. It has maintained almost 99 percent occupancy, which is almost unheard of in commercial spaces. Thanks to Skanska USA Commercial Development, a Swedish commercial developer, the Energy Corridor will soon have more space.
Designed by HOK, West Memorial Place will serve as a major office space for commercial tenants. Petroleum Geo Services is one of the first tenants to claim space in the 12-story building, which is slated to complete in early 2015. This marks one of several Skanska developments in the Houston area, including developments in uptown and downtown. The design is a LEED-certified green project. Some crime noir readers may be familiar with Skanska from its mention in Steig Larsson’s The Girl with the Dragon Tattoo.
The project is a safe bet for Skanska, as new developments in the energy industry have created a frenzy-like search for office space in the Corridor. Commercial rents are solid in Houston, but particularly in the Corridor. A nod from an international developer like Skanska indicates long-term confidence in Houston as a center of the world’s oil and gas business.