New York-based Skanska USA Commercial Development announced Sept. 25 it has acquired 14 acres of land in north Houston for an undisclosed price to build a master-planned, Class A commercial office development that will total up to 1 million square feet.
The project will be located in Springwoods Village Parkway adjacent to the new Exxon Mobil Corp.’s (NYSE: XOM) campus. The site can accommodate a single tenant seeking a build-to-suit corporate campus or a three-building office complex with multiple tenants, according to Skanska. The timeline for the project will be dictated by market demand.
Houston-based Kirksey is the architect, and Skanska USA Building is the general contractor.
“Whether we develop the parcel for a single tenant or as a complex shared by multiple tenants will depend on marketplace demand,” Michael Mair, executive vice president and regional manager of Skanska USA Commercial Development, said in a statement.
The construction of Exxon’s new campus has inspired several new developments including CityPlace, which is being developed by Houston-based Patrinely Group, CDC Houston and San Antonio-based USAA Real Estate Co. Located at the nexus of Interstate 45, the Grand Parkway and the Hardy Toll Road, the 60-acre mixed-use complex will include millions of square feet of office and retail space as well as a multifamily project.
Skanska is also developing West Memorial Place, a two-phase, 700,000-square-foot office campus in the Energy Corridor as well as Capitol Tower, a 750,000-square-foot, Class A commercial office tower planned for 800 Capitol Street in downtown Houston. It will be built on the site of the former Houston Club building which will be demolished Oct. 19. Capitol Tower is the first Houston development to be awarded LEED v4 Platinum precertification from the U.S. Green Building Council.