HOUSTON, Jan. 11, 2017 /PRNewswire/ -- A master development venture comprising Patrinely Group, USAA Real Estate Company and CDC Houston, announced today that HP Inc. has signed a long-term lease in Springwoods Village. The campus will be located on 12 acres near the intersection of Interstate 45 North and the Grand Parkway.
HP will occupy 378,000 square feet in two office buildings, and will house approximately 2,400 employees. The project will begin construction in early 2017, and be completed by third quarter 2018. The new HP campus will be located east of CityPlace at Springwoods Village, also being developed by the Patrinely Group led master development venture, and just north of the Southwestern Energy headquarters, which was developed by Patrinely Group and opened in 2014.
Brandon Clarke, Charles Gordon, Alexander Somerville, Ryan Roth, and Andrew Zeplain of CBRE represented HP. Dennis Tarro of Patrinely Group and Chrissy Wilson of JLL represented the landlord.
The HP campus will be connected by a bridge to CityPlace Plaza, a lakefront public plaza designed as a gathering place for office workers, residents, and visitors, and a point of linkage to Springwoods 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 for both private and public events.
"HP will be able to enjoy all of the first-class amenities we will offer within CityPlace, and Springwoods Village," said Robert Fields, president and CEO of Patrinely Group. "Our clients are looking for new, state-of-the-art buildings in a vibrant upscale setting. We offer a compelling new address for corporations wishing to recruit and retain the brightest young talent from around the world."
"We are proud to have Patrinely Group and CDC Houston as our development partners, and securing our second major build-to-suit office in Houston in 2016 for our venture is both rewarding and encouraging," said Len O'Donnell, president and CEO of USAA Real Estate Company. In May, American Bureau of Shipping signed a prelease to occupy the office component of the new 326,800-square-foot CityPlace 2.
"With ExxonMobil, Southwestern Energy and CHI St. Luke's open for business, and ABS and HP moving here, it is becoming clear that major employers are recognizing the benefits of Springwoods Village's location and its high quality walkable and mixed use environment," said Keith Simon, executive vice president of CDC Houston.
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.
Springwoods Village is a 2,000-acre, mixed-use community situated along the west side of I-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.
About HP Inc.
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at www.hp.com.
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.
About USAA Real Estate Company
USAA Real Estate Company, with over $17 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multi-family, retail and hotel properties. USAA Real Estate Company 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.
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SOURCE Patrinely Group