Patrinely Group To Develop Hewlett Packard Enterprise Campus

REAL ESTATE - COMPANY NEWS

Source : Patrinely Group

A joint venture of Patrinely Group, USAA Real Estate and CDC Houston, today announced plans to develop Hewlett Packard Enterprise's (HPE) new campus. Located in Spring, Texas, this development will house the fourth major corporation to be located in CityPlace at Springwoods Village, joining HP Inc. (HPI), Southwestern Energy (SWN) and the American Bureau of Shipping (ABS).

Scheduled to break ground in the fourth quarter of 2019, the HPE development will consist of two buildings located at the southwest corner of East Mossy Oaks Road and Lake Plaza Drive and include approximately 568,000 square feet of rentable space. Amenities may include a fitness center, café and an adjoined open courtyard space. The HPE development is planned to achieve LEED certification.

A primary location for core research and development, the HPE Houston site also supports customer engagement, sales operations, supply chain, and other global functions for the company including finance, HR, and marketing.

Antonio Neri, President and CEO of Hewlett Packard Enterprise, shared that "The city of Houston remains a top location for Hewlett Packard Enterprise. We asked our employees what they were looking for in a new site. They wanted a vibrant setting, easy access to amenities and major highways, and a location close to their homes. CityPlace checked all of those boxes for us."

Ronnie Deyo and Beau Bellow of real estate and investment management firm JLL represented HPE. Dennis Tarro of Patrinely Group, and Chrissy Wilson and Russell Hodges of JLL represented the Landlord.

"The opportunity to develop HPE's campus is a testament to the attractiveness of CityPlace. We are creating a unique, walkable, mixed-use destination," says Robert Fields, President and CEO of Patrinely Group, the managing partner of the joint venture. "With ABS headquarters and the HP Inc. campus opening before the end of the year, along with Star Cinema Grill and 24 Hour Fitness coming next year, the addition of HPE is a major milestone and reinforces the strength of this new urban center in north Houston."

CityPlace is a 60-acre, fully-integrated, mixed-use development providing the growing area along the Grand Parkway corridor near the ExxonMobil campus with a new destination of choice, integrating working, shopping and living. When fully developed, the project will include the recently opened, full-service Houston CityPlace Marriott, 4 million square feet of Class A office space with 400,000 square feet of integrated retail space and additional luxury multifamily projects. The development's five to 10-story Class A office buildings will offer parking at a ratio of up to 4.5 cars per 1,000 rentable square feet, with spaces located in all structured parking. CityPlace is the commercial urban center of Springwoods Village, a 2,000-acre master planned community.

"We are very pleased with the continued momentum of Springwoods Village as CityPlace becomes the new urban center in north Houston," said Warren Wilson, executive vice president of CDC Houston, the master developer of Springwoods Village.

Additionally, the venture recently announced the start of construction for CityPlace 1, which has 122,700 square feet of office and 26,900 square feet of ground floor retail available for lease, located directly across from a one-acre public plaza.

For more information about CityPlace at Springwoods Village visit www.cityplacespringwoods.com