Market Updates

Now Under Construction — Office

Triten Real Estate Partners is constructing a new eight-story, 186,000-square-foot office building for Lockton Cos., a property and casualty insurer with 300 full-time employees in Houston. The building will have a steel frame with glass and masonry exterior. Lockton Place will feature a tenant lounge with daily food service and Wi-Fi, a fitness center, a streetside plaza/terrace, an urban motor court with a living green wall and a Class A lobby and restrooms.  Lockton has leased 120,000 square feet in the building, leaving 66,0000 square feet available to prospective tenants.

 

Now Under Construction – Retail

Transwestern is developing two multi-tenant retail centers on a 3-acre site located on the southwest corner of Westheimer and CityWest Blvd. The eastern building is under construction. It will be 12,000 square feet. Signed tenants include Zoe’s Kitchen and Yogurt Land. It will deliver in April 2017. The second building will be 10,600 square feet and will break ground in spring.

 

Raintree Commercial is developing a 6,500-square foot retail center at 2620 W. Sam Houston Parkway S. The location is just north of Westheimer at the site of the former Citibank drive-thru location. No other information is available at this time.

 

Now Under Construction – Hotel

Holiday Inn Express & Suites has broken ground on the southwest corner of Westheimer and Hayes Roads. The 127-room hotel will feature a free hot breakfast, evening happy hours, a private upper-level outdoor pool, a 600-square-foot fitness center and a secured-entry parking garage. It is being developed by Pika Hotels, which also owns the Holiday Inn Westchase on Westpark Drive. The hotel is expected to open in summer 2017.

 

Now leasing — Residential

The Worthing Companies has opened  The Heights at Westchase at 3505 W. Sam Houston Parkway S. This new apartment community features 265 one- and two-bedroom units surrounded by three exterior courtyards, plus an internal courtyard with a pool and fountain.  Other amenities include a business center, conference room, fitness center, social room and club room.  The four-story community is built around a five-level parking garage.

 

Richfield Real Estate Corporation is leasing units in the second phase of Portico at West8.  When complete, this midrise community will have a total of 526 apartment homes, including 296 newly-constructed 1- and 2-bedroom units. A second pool has been added, along with an outdoor kitchen, sun room and dedicated resident community space.

 

Now Under Construction — Residential

Houston-based Crimson Real Estate Fund and San Antonio-based USAA Real Estate Co. are building Folio West, located at 2525 Rogerdale Road. The 266-unit luxury apartment community will have frontage along Westheimer Road and will be within walking distance of the Phillips 66 world headquarters campus. Construction is underway and pre-leasing is expected to begin in the fall of 2016.

 

Now Under Construction — Higher Education

Houston Community College is building the 112,000 square-foot West Houston Institute, adjacent to its existing Westchase District campus location at 2811 Hayes Road. The building will combine state-of-the-art classrooms and labs with a “MakerSpace” featuring 3D printers and laser cutters, as well as welding and woodworking equipment. The West Houston Institute is also home to HCC’s unique dual-campus engineering program that allows students to earn a 4-year engineering degree from UT Tyler, while attending classes at the Westchase District campus.

 

To find out about current projects under development, see the most recent market updates.