The ABCs of Successful Business: O is for Office Space

With office rates 22 percent below the Houston average, the Greenspoint District is a great value for cost-conscious companies looking to expand to the area. Owners with large blocks of space in Greenspoint are preparing for their future tenant base by investing in their properties with attractive amenities including large conference centers, fitness centers, open floor plans, executive suites, co-working offices specifically suited for small businesses and higher parking ratios.

The District’s available properties also include LEED® certified buildings. Dedicated to sustainability, the LEED® certification guarantees high standards of design, construction and functionality. Green buildings also generate a higher return on investment for companies due to the increased efficiency and reduced costs of water and energy bills by as much as 40 percent.

Another high selling point for national and international companies is the area’s prime location near leading global air, seas, roads and rail transportation. Tenants are connected to million of consumers via George Bush Intercontinental Airport (IAH) and the Port of Houston. In fact, IAH, located just six miles (10 minutes) from the District, serves 38 countries and provides flights to 185 non-stop destinations, including more non-stop flights to Mexican destinations than any other airport in the country.

It is for these reasons that Greenspoint has successfully retained high-profile businesses in the area. Within Greenspoint Place, American Bureau of Shipping, a marine and offshore energy standards and classification corporation, has expanded its long-term lease to approximately 258,000 square feet; Swift Energy, an independent oil and gas company, renewed its long-term lease of approximately 120,000 square feet, and HealthHelp, a Houston-based provider of technology for educative and collaborative healthcare administration, moved from another Greenspoint office building into a 40,000-square-foot-space.

“Between the services nearby, the newly available office space, and Greenspoint’s convenient transportation infrastructure, the District is becoming a competitive choice in today’s business community,” Greg Simpson, Greenspoint District president said.

Elsewhere in the District, Nabors Industries, an upstream oil and gas corporation with an international footprint, expanded its operational headquarters occupying over 323,000 square feet at One Commerce Green. Lennar Homes, one of Houston’s largest homebuilders, recently moved into its new 70,000-square-foot headquarters facility within Greens Crossing Office Park.

“The newly available blocks of office space have really put Greenspoint on the radar of both national and international companies who are looking for highly competitive advantages in this market,” Simpson said. “The District offers and affordable, convenient location for corporations seeking a new headquarters site, developers looking to build on vacant land, and investors looking to develop in the area.”

This story originally ran in the October edition of Site Solutions, Greenspoint District’s bimonthly newsletter featuring stories about business deals as well as company news from the District’s office, industrial and data center community. To subscribe to this bimonthly newsletter, click here

Prospects are Bright in Greenspoint — According to Bisnow’s “Future of Greenspoint” Panelists

Lots of good news was presented at the biannual “Future of Greenspoint” event.

Greenspoint District’s new president, Greg Simpson, began the morning sharing his vision of Greenspoint over the next few years as well as presenting a video highlighting many of the opportunities that exist in Greenspoint, particularly in the office and industrial markets, where space is abundant.

The morning continued with Reggie Gray, president of the Houston Intercontinental Chamber of Commerce, announcing the purchase of 34 buildings in the Greenspoint area by HPI Holdings. HPI will renovate the buildings, and Caldwell Companies’ SVP Bill Ginder will lease the spaces; Caldwell will also be in charge of property management. Reggie says this sale shows confidence in the Greenspoint market and represents a resurgence of investment in the submarket.

HPI Holdings’ news is not the only exciting activity in the area.

Leasing has picked up speed.

Colvill Office Properties’ Chip Colvill, a panelist at the event, says Greenspoint Place is hist most active property portfolio in the Houston market — he’s closed 200,000 square feet of deals in the last year. Not be outdone, Transwestern’s EVP Michelle Wogan, the event’s moderator, has finalized 260,000 square feet of deals in the submarkets, half of the activity being new tenants to the area.

Chip views Greenspoint a lot like Westchase a few years ago. Activity to its west caused Westchase to increase in popularity, and he thinks activity in North Houston will be a catalyst for activity to increase in Greenspoint.

Chip credits Greenspoint’s affordable lease rates with the increase in leasing activity. CBRE’s Lucian Bukowski, another panelists, says Greenspoint’s rental rates are 15 to 20 percent lower than other areas of town and are 30 percent lower than Downtown.

Another huge asset for the area is George Bush Intercontinental Airport (IAH). Houston Airport Systems COO Lance Lyttle said IAH is running out of room to list all of the airlines with service on its signs, adding an unprecedented 11 foreign airlines just in the last two years. In fact, when Air New Zealand begins flying from IAH in December, the airport will be the only airport in the western hemisphere with services to every habitable continent.

Big things are on the horizon for Greenspoint as companies continue to discover the value of locating in Greenspoint such as, the availability of Class A office space for the first time in over a decade, accessaibility to all of the major business centers in Houston within a convenient drive time, and lease rates 22 percent below the Houston average.

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This story originally ran in the October edition of Site Solutions, Greenspoint District’s bimonthly newsletter featuring stories about business deals as well as company news from the District’s office, industrial and data center community. To subscribe to this bimonthly newsletter, click here

Several Companies Have Recently Decided to Call 11811 North Freeway Home

In the past several months new tenants have occupied over 26,000 square feet of space at 11811 North Freeway.

Below are just a few of the companies located there.

Two insurance companies have opened office in the building. Fred Loya leased over 15,000 square feet in the building. Founded in El Paso in 1974, and specializing in providing general automobile insurance at affordable rate, the company has grown and is listed as No. 18 on the Hispanic Top 500 Owned and Operated Companies in the United States list. Eagle American Insurance Agency provides insurance for homeowners, motorcycles, RVs, watercraft, automobiles, private collections, life, and health; the company leased about 1,000 square feet in the building.

Dr. Sang Joo, MD leased over 500 square feet. The doctor specializes in addiction psychiatry.

The AG Doctors Center of Houston took over 1,600 square feet for its family medicine practice.

Hermes Aviation, which specializes in marketing and sales of air cargo for airlines, leased almost 800 square feet in 11811 North Freeway. The company has grown rapidly since it was founded in 1991 and currently represents numerous airlines in the U.S. and overseas, providing marketing and sales of their air cargo capacity in key global markets.

This story originally ran in the October edition of Site Solutions, Greenspoint District’s bimonthly newsletter featuring stories about business deals as well as company news from the District’s office, industrial and data center community. To subscribe to this bimonthly newsletter, click here

North Houston Skate Park Recognized by Texas Economic Development Council

The award honors the efforts made by GGRA in funding and constructing North Houston Skate Park (formerly Spring Skate Park), the largest skateboard park in the United States, as well as Dylan Park in North Houston.

With over 72,000 square feet of skate surface, the park includes a world-class, competition-scale, Texas-shaped bowl featuring a full pipe, 12-foot vertical ramp, 10-foot bowl, banked walls and speed hips, plus backyard-style pools and three beginner/intermediate/advanced flow bowls. A section designed to emulate the street-skating experience has ledges, rails, benches, quarter pipes and stair obstacles, providing fun and creative challenges for skaters of all levels and interests.

In the same complex, located right beside North Houston Skate Park, is Dylan Park, a park without limits named for Dylan Newman, an area child who was severely injured and later died from child abuse. Dylan Park has areas designed to engage children who are sight impaired, hearing impaired, autistic or wheelchair-bound. The park also includes open grassy areas for unstructured play. The entire complex, which is completely fenced, also includes walking trails and a community center.

Funding for the project was provided by GGRA which oversees the area’s TIRZ, or City of Houston Tax Increment Reinvestment Zone No. 11. Five different entities (the City of Houston, Harris County, Lone Star College, Spring Independent School District, and Aldine Independent School District) contribute funds to the zone. The zone provides incentives for developers to build or redevelop in Greenspoint, and reimburses them for the public amenities they include in their projects. Sally Bradford is the executive director of the Greater Greenspoint Redevelopment Authority; she and her board of directors oversaw the funding, design and construction of the North Houston Skate Park and Dylan Park. GGRA then contracted with the Greenspoint District to handle overall administration of North Houston Skate Park. Greenspoint District also manages the maintenance for Dylan Park and has a contract with GGRA for the maintenance of the skateboard park.

GGRA recognized a need for recreational equipment and facilities in the area to serve the thousands of school-age children who call the region home and developed and facilitated the creation of this complex to meet that need.

The efforts of GGRA were even recognized by Houston Mayor Annise Parker. “This project will help fill a recreational void in the Greenspoint area, allowing children to play close to home,” she said.

Similarly, Dylan Park also addresses a need in the city. “Families with special needs children need these kinds of parks,” said Marti Boone, director of Be An Angel, an organization which serves special needs children throughout the region. “They promote unity and add to productive lives and healthier bodies for those that have far too little resources for outside fun.”

Both GGRA and Greenspoint District share a common goal of developing parks to provide places for physical activity and to increase community cohesiveness and involvement in the Greenspoint area.

 

Greenspoint’s Premier 971-Acre Industrial Park Continues to Attract New Business in North Houston

“With 1.9 million square feet of leasable industrial space currently available, Greenspoint has numerous opportunities for companies with manufacturing and warehousing needs,” said Greg Simpson, President, Greenspoint District. “Both local and multi-national companies have invested within Greenspoint and Pinto Business Park, making the District a competitive force within the business community.”

Once fully developed, the industrial park will accommodate up to 7,000,000 square feet of build-to-suit and user-owned distribution, light manufacturing and corporate campus space. The park is also the largest, full entitled, contiguous tract of land located inside Beltway 8 and outside the 500-year floodplain. To accomodate the growing activity, $50 million worth of infrastructure developments, mainly drainage systems and four-lane roads, are in the process of being installed in the park. Ella Road is currently being extended from Beltway 8 to West Road, and Fallbrook Drive is being extended through the park.

With a strategic location off Beltway 8 and Interstate 45, Pinto Business Park connects companies to millions of consumers via Houston and the surrounding markets. Tenants also have direct proximity to George Bush Intercontinental Airport (IAH) and the Port of Houston. In fact, IAH, located just six miles (10 minutes) from the District, serves 38 countries and provides flights to 185 non-stop destinations, including more non-stop flights to Mexican destinations than any other airport in the country.

The latest development within the park comes from Freedom CNG, who is constructing a compressed natural gas (CNG) fueling station to provide fuel to the Metropolitan Transit Authority of Harris County’s (METRO) newest 53 CNG powered buses. The station will be open to the public 24 hours a day, seven days a week so as to encourage the more widespread adoption of natural gas vehicles. It is located at 303 Fallbrook Drive adjacent to METRO’s bus operations and support facility at 111 Fallbrook Drive in Pinto Business Park.

“Pinto Business Park’s initial success is just the beginning as we expect many new developments within the industrial park,” said Simpson. “Between the unrivaled location and high-quality infrastructure, it’s quickly being recognized as a top choice for industrial operations in Houston.”