Energy Corridor gains a new headquarters.
Dutch geo-data company Fugro has moved its U.S. HQ to Republic Square. This 35-acre campus is located at 13501 Katy Freeway, next to Terry Hershey Park.
Bill Insull and Blake Virgilio, both of Lee & Associates, represented the tenant, Houston EC Development LLC. This limited liability company is affiliated with Dallas-based Dart Interests. Fugro was represented by Bob Cromwell, Bob Gulley of Moody Rambin, and Zack Taylor of Colliers International. Virgilio stated that the 75,000-square foot lease was signed April 4.
Dart Interests (formerly Third Palm Capital) has owned the campus in Spring since 2014. Exxon Mobil Corp., (NYSE:XOM), sold the property when it was consolidating its 385-acre City Place Campus near Spring.
In 2020, the four-story building with 325,000 square feet of space completed two years worth of renovations. The building was renovated to include two conference rooms, a fitness centre and two floors. The first tenants since Exxon left were also signed at that time, including Samsung Energy and Gate Energy.
In 2015, the property owner created a master plan worth $1 billion for the 35 acres. However, these plans were drastically scaled back as the market was hit by the oil slump.
The plan includes another mixed-use development that will include office and life sciences space, apartments and retail, as well as a boutique hotel. Virgilio anticipates that another conference center, as well as a restaurant, will be built within the next 12 months.
He said that after sitting vacant between 2014 and 2020, the Republic Square Building is now 50% occupied. Fugro will take almost the entire 2nd floor of the building's double-C shape.
Virgilio stated that Fugro liked to have all its employees in the same area, as it is better for collaboration and circulation.
Fugro will move its U.S. Headquarters from a seven-story property it owns on 6100 Hillcroft Ave., in Sharpstown.
Virgilio stated that the company will move to the new location at the end the year after building the new offices.
Celine Gerson said, "The Fugro team are very excited about our new move to Republic Square." The new location puts us close to our clients and provides our employees a modern, highly efficient workplace with green spaces and many amenities. We are thrilled to create a work environment that will benefit Fugro Americas in the long-term.
Fugro's lease is the latest in a series of major agreements made along the Energy Corridor.
Fluor, an engineering and construction firm based in Irving, Texas, announced plans earlier this month to move from its Sugar Land campus. The company signed a lease for 308,186 square feet at 737 N. Eldridge Parkway, Three Eldridge.
In March, Modec International signed an 116,161 square foot lease for its new headquarters in West Memorial Place I. Omaha-based Kiewit Corp. also renewed and expanded their space at Energy Center I. This brought its total footprint to 277.105 square feet.