Briarlake Plaza
Oil and fuel firm Apache Corp. has signed an early 328,000-square-foot lease renewal and growth at Briarlake Plaza, Cousins Properties’ two-building workplace campus in Houston.
Apache Corp. plans to relocate its international headquarters on the property, the place it at present occupies 210,000 sq. ft underneath an settlement that’s set to run out in 2024. The brand new lease is about to run out in 2038.
Based on the Houston Chronicle, Apache will downsize its Uptown Houston footprint, relocating from Submit Oak Central, the place the agency has been working for greater than 30 years. The corporate’s transfer from its former location, the place it occupies roughly 525,000 sq. ft, will considerably cut back its Houston workplace footprint.
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Cousins acquired One Briarlake Plaza again in 2008, when Crescent Actual Property offered it for $129.3 million, in response to CommercialEdge. The identical information supplier reveals that the corporate acquired Two Briarlake Plaza in 2019, following the merge with TIER REIT, when Cousins assumed the possession of all of the agency’s present property throughout the U.S.
Adaptive leasing techniques
In a ready assertion, Apache Corp.’s SVP of Administration Mark Maddox stated that the relocation will improve the general worker office expertise by lowering drive occasions and providing entry to an array of facilities.
Based on a current CommercialEdge report, Houston topped the nation for the best workplace emptiness fee year-to-date as of October, amongst main markets.
Recognized by CommercialEdge as LEED Silver licensed, the 2 19- and 20-story buildings whole 835,510 sq. ft and comprise on-site eating facilities, health and convention facilities, in addition to entry to varied out of doors locations.
Each buildings are situated alongside the Memorial Hall, at 2000 and 2050 West Sam Houston Parkway South, some 15 miles from downtown Houston, providing easy accessibility to the world’s retail and eating choices. Sequitur Power Sources, Pelican Power Companions, Atlas Oil Co. and Fieldwood Power are amongst Briarlake Plaza’s tenants.