HALBERDIER Holdings Exxon Area Land – Big Vertical Office Plans with Houston Family Office in Glut Market
THE WOODLANDS, Texas, Jan. 28, 2016 /PRNewswire/ — In December 2015, Trey Halberdier’s team at HALBERDIER Real Estate executed yet again, on another land trade across I-45 from Exxon – which will ultimately develop 2 Class A office buildings and parking garage – ENERGY Crossing North https://www.thehrealestate.com/Energy. This time, HALBERDIER was not purchasing prime land; they were recapitalizing and partnering with a well respected, private philanthropic family office in downtown Houston.
HALBERDIER Holdings has quickly garnered significant traction aroundThe Woodlands, ExxonMobil and the Grand Parkway terrain over the past few years (look for the scarlet and grey “H” adorned crested shield as a sign of strength and resilience). The new partnership’s playbook sets up nicely by design – strong liquidity, creatively disciplined, opportunistic and high level execution in the CRE office market.
The plan for HALBERDIER’s new venture calls for 288,000 SF of office on 5 acres, in a now daunting office market. As Newton said, every action has an equal and opposite reaction. HALBERDIER’s group and investors are betting on Exxon and The Grand Parkway by going long. In a remarkable contrarian way, they doubled down on the size and scope of the project – both the land and square footage of buildings. The HALBERDIER team sees leveling construction pricing and a flight to quality Exxon area prime locations as a competitive advantage.
Trey Halberdier notes, “We went through a dip in 2008 with the subprime meltdown, and The Woodlands area remained strong, this is no different, except we now have the 3rd loop around Houston and one of the biggest energy companies across the street. So, we are targeting select office users who want to make ENERGY Crossing their corporate home. We are respectful yet contrarian to the market and naysayers – and see major success ahead for this project.”
HALBERDIER stated they are seeking larger build to suit office tenants primarily, and would consider offering ownership to the right large corporate user who can take several office floors at once. Tenant credibility and endurance is key to any office developer as ENERGY Crossing North plans Class A amenities, above standard build outs and a high tech office environment. The H Companies plans to also target Exxon related vendors who want close proximity to the behemoth multibillion dollar campus across the I-45. Connect now – www.theHrealestate.com 281-362-2829
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SOURCE HALBERDIER Real Estate LLC