HOUSTON, May 24, 2016 /PRNewswire/ -- The master development venture for CityPlace, comprising Patrinely Group, USAA Real Estate Company and CDC Houston, announced today that American Bureau of Shipping (ABS) has signed a long-term lease in CityPlace 2, becoming the latest major employer to move its global headquarters to Springwoods Village.
CityPlace is a 60-acre fully-integrated, mixed-use development that will provide the Houston community with a new destination of choice that integrates working, shopping and living, and will include 4 million square feet of Class A office space with 400,000 square feet of integrated retail space, a full-service hotel and additional luxury multifamily projects, when fully developed.
ABS, a leading global provider of classification services to the marine and offshore industries, and ABS Group, a global technical services subsidiary of ABS supporting the safety and reliability of high-performance assets and operations in the marine; offshore; oil, gas and chemical; power; and government sectors, will occupy the entire office component of the new 10-story, 326,800-square-foot CityPlace 2 mixed-use project, which will begin construction in early 2017.
"This development offers great amenities and a state-of-the-art, energy-efficient office design for our employees in an attractive location," said Christopher J. Wiernicki, Chairman, President and CEO of ABS, and Chairman of ABS Group. "The new facility reaffirms our commitment to the Houston area."
Scheduled to be completed in late 2018, CityPlace 2 will also include 23,700 square feet of ground floor retail. Tim Relyea and Kevin Snodgrass of Cushman & Wakefield represented ABS. Chrissy Wilson of JLL and Dennis Tarro of Patrinely Group represented the landlord. "Having done several corporate build-to-suits with Patrinely Group going back almost 30 years, we are confident ABS will be extremely happy with the development execution of Patrinely Group and USAA. The new amenities within the Springwoods development, which will include a hotel, combined with the ever more important mobility access recently improved by the connection of US 99 into I-45 and the very close proximity to Bush Intercontinental Airport, make this one of the new premiere north destination points in the Houston area," Relyea and Snodgrass said.
"CityPlace is a phenomenal new urban center located at the nexus of Interstate-45, Grand Parkway and the Hardy Toll Road, directly across from Exxon Mobil's new 385-acre campus. Patrinely Group, USAA Real Estate Company and CDC Houston are committed to making CityPlace the most accessible, premier 18-hour destination in Houston," said Dean Patrinely, Managing Principal of Patrinely Group, the venture's managing general partner. "We are delighted that ABS selected CityPlace, joining Exxon Mobil, Southwestern Energy and CHI St. Luke's."
Additionally, CityPlace 1, a new 149,600-square-foot office building is planned by the Patrinely Group, USAA Real Estate Company and CDC Houston venture. CityPlace 1, a Class A mixed-use project located across from ABS's new headquarters will offer a highly efficient design that will be complemented by world-class amenities. CityPlace 1 will include 122,700 square feet of office and 26,900 square feet of ground floor retail. The project is being actively preleased and can be available for occupancy in as little as 12 months.
"We've joined forces with an extraordinary development team to create CityPlace – a transformational business setting to meet the needs of the modern office tenant and the lifestyle choices of today's urban resident," said Len O'Donnell, President and CEO of USAA Real Estate Company. "The decision of another large tenant to make CityPlace its long-term home is further validation of our team's vision for the community."
CityPlace 1 and 2, the initial office developments on a prime intersection in CityPlace, will offer a combined total of 476,400 square feet of office space, shopping and dining. Each office building will feature 9'6" ceilings with floor-to-ceiling glass, ground floor restaurants, shopping, ample covered parking, and will seek LEED Gold certification. "CityPlace's location offers unparalleled access for corporations seeking to operate in a highly accessible, vibrant mixed-use environment," said Robert Fields, President and CEO of Patrinely Group.
Both office buildings will be located across from the CityPlace Plaza, a lakefront public plaza designed as a gathering place for office workers, residents, and visitors, and a point of linkage to Springwood Village's lake and park system with trails connecting to the Spring Creek Greenway. The public plaza will include an activated open space and an amphitheatre allowing for both private and public events.
"With ExxonMobil's campus and Southwestern Energy's headquarters now open for business, and ABS moving to CityPlace, Springwoods Village is becoming a major employment center in the north Harris County," said Keith Simon, executive vice president of CDC Houston. "This announcement, combined with the recent opening of the CHI St. Luke's Springwoods Village Hospital as well as the progressing construction on The Mark CityPlace luxury apartments, provides an exciting momentum for us."
Springwoods Village is an 1,800-acre, mixed-use community situated along the west side of Interstate 45 between Springwoods Village Parkway and the Grand Parkway. Designed for sustainability, when completed the nature-inspired 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.
Patrinely Group selected JLL as the exclusive office leasing agent for CityPlace. Under the direction of Patrinely's Dennis Tarro, JLL's Chrissy Wilson is leading the leasing and marketing efforts. Transwestern Retail is the leasing agent for the retail space in CityPlace, with Nick Hernandez, Chace Henke and Crystal Allen leading the retail leasing program.
For more information about CityPlace visit www.cityplacespringwoods.com
Founded in 1862, ABS is a leading international classification society devoted to promoting the security of life and property and preserving the natural environment through the development and verification of standards for the design, construction and operational maintenance of marine and offshore assets.
About Patrinely Group, LLC
Patrinely Group is a national real estate development company with a diverse portfolio including commercial office, luxury residential, mixed-use, high-rise condominiums, hospitality, and entertainment venues. Since 1983, Patrinely Group has developed some of the most successful properties in the nation and has completed nearly $7 billion in development. With Patrinely Group's depth of experience, spanning 15 states, the company is a recognized leader in real estate development as evidenced by its proven 33-year record of accomplishment. For more information, visit www.patrinelygroup.com and www.cityplacespringwoods.com
About USAA Real Estate Company
USAA Real Estate Company, with approximately $15 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, retail and hotel properties as well as investments in real estate operating companies. RealCo is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
About CDC Houston
CDC Houston, Inc. (a subsidiary of Coventry Development Corporation (New York) is an experienced land developer with expertise in creating mixed-use urban communities that foster smart and responsible growth for commercial and residential vitality. Coventry has provided development services for mixed-use projects in New York, Colorado, Texas and Guam over its 45-year history. In 2001, the company launched RidgeGate, also a sustainable, mixed-use community, in Lone Tree, Colorado which consists of 3,500 acres. For more information on CDC Houston, Inc.'s latest project, Springwoods Village, please visit: www.springwoodsvillage.com and connect on Facebook and Twitter.
About Cushman & Wakefield
Cushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm's 43,000 employees in more than 60 countries provides deep local and global insights that create significant value for occupiers and investors around the world.
JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
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SOURCE Patrinely Group