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Energy medical corridor october 2, 2015
1. ENERGY MEDICAL CORRIDOR UPDATEENERGY MEDICAL CORRIDOR UPDATEENERGY MEDICAL CORRIDOR UPDATEENERGY MEDICAL CORRIDOR UPDATE
OCTOBER 2, 2015OCTOBER 2, 2015OCTOBER 2, 2015OCTOBER 2, 2015
Prepared By:Prepared By:Prepared By:Prepared By:
Edward Cook, CGMAEdward Cook, CGMAEdward Cook, CGMAEdward Cook, CGMA
Chartered Global Management Accountants & ConsultantsChartered Global Management Accountants & ConsultantsChartered Global Management Accountants & ConsultantsChartered Global Management Accountants & Consultants
edward.cook@ec2online.comedward.cook@ec2online.comedward.cook@ec2online.comedward.cook@ec2online.com
832.244.4550832.244.4550832.244.4550832.244.4550
The statements contained in this document that are not historical facts (including without
limitation statements to the effect that the "Company" or its management "believes," "expects,"
"anticipates," "plans," or other similar expressions) are forward-looking statements based on
the Company's current expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that future developments
affecting the Company will be those anticipated by the Company. These forward-looking
statements involve significant risks and uncertainties (some of which are beyond the control of
the Company) and assumptions and are subject to change based upon various factors,
including but not limited to the following risks and uncertainties: changes in the demand for
and market acceptance of the Company's products and services; changes in general
economic conditions, and, specifically, changes in the rate of economic growth in the United
States and other major international economies; the presence of competitors with greater
financial resources and the impact of competitive products, services and pricing; the cyclical
2. nature of the individual markets in which the Company's customers operate; changes in
investment by the energy, power and environmental industries; the availability of qualified
professional staff needed to execute contracts; the uncertain timing of awards and contracts;
cost overruns on fixed, maximum or unit priced contracts; cost overruns which negatively
affect fees to be earned or cost variances to be shared on cost plus contracts; changes in
trade, monetary and fiscal policies worldwide; currency fluctuations; the effect of the
Company's policies, including but not limited to the amount and rate of growth of Company
expenses; the continued availability to the Company of adequate funding sources; delays or
difficulties in the production, delivery or installation of products and the provision of services;
the ability of the Company to successfully integrate the operations of any recently
assimilated entities or operations, the protection and validity of patents and other intellectual
property; and various legal, regulatory and litigation risks. Should one or more of these risks
or uncertainties materialize, or should any of the Company's assumptions prove incorrect,
actual results may vary in material respects from those projected in the forward-looking
statements. The Company undertakes no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise.
3. Table of Contents
Page 1
9.3.1 Energy Corridor ......................................................................................................................1
9.3.1.1 SKANSKA West Memorial Place............................................................................10
9.3.1.1.1 Petro Geo Services.....................................................................................13
9.3.1.1.2 Siemens......................................................................................................14
9.3.1.1.3 Venari..........................................................................................................14
9.3.1.1.4 Phase II.......................................................................................................14
9.3.1.1.4.1 IHI EPC ..........................................................................................16
9.3.1.2 Republic Square......................................................................................................18
9.3.1.3 Westlake..................................................................................................................29
Table: Westlake Tenants...........................................................................................32
9.3.1.4 Conoco.....................................................................................................................33
9.3.1.5 Shell.........................................................................................................................38
9.3.1.5.1 Woodbranch ...............................................................................................39
9.3.1.6 Grisby Square..........................................................................................................40
9.3.1.7 Eldridge Place..........................................................................................................43
9.3.1.7.1 Eldridge Oaks Encalve at Eldridge.............................................................46
9.3.1.8 Central Park.............................................................................................................50
9.3.1.9 Park Ten ..................................................................................................................53
9.3.1.10 Ten Oaks ...............................................................................................................54
9.3.1.10.1 Texas Medical Center West Campus.......................................................54
9.3.1.10.1.1 Methodist Hospital .......................................................................54
9.3.1.10.1.2 Texas Children's ..........................................................................54
9.3.1.10.1.3 MemorialHermann Katy...............................................................54
9.3.1.10.1.4 MD Anderson Cancer Center West.............................................54
9.3.1.11 Mac Haik Gateway to the Energy Corridor............................................................54
9.3.1.11.1 Technip .....................................................................................................54
9.3.1.11.2 Pacific Drilling...........................................................................................54
9.3.1.12 Apartments ............................................................................................................54
9.3.1.12.1 Aura...........................................................................................................54
9.3.1.12.2 Parkside....................................................................................................54
9.3.1.12.3 SevenSeventy...........................................................................................54
9.3.1.12.4 Broadstone................................................................................................54
9.3.1.12.5 SanPaloma ...............................................................................................54
9.3.1.12.6 VillageTownhomes ...................................................................................54
9.3.1.12.7 Grand........................................................................................................54
9.3.1.12.8 Alexan.......................................................................................................54
9.3.1.12.9 Domain at Eldridge ...................................................................................54
9.3.1.12.10 The Grove at Wilcrest.............................................................................54
9.3.1.12.11 Domain West .........................................................................................54
9.3.1.12.12 The Slate at Wilcrest...............................................................................54
9.3.1.13 Zip Code Analysis..................................................................................................54
Table: Zip Codes By Distance...................................................................................54
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9.3.1 Energy Corridor
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$24.7 Million Secured for Energy Corridor Transportation Improvements
Nearly $25 million in Transportation Improvement Program (TIP) projects for The Energy
Corridor have been approved by the Houston-Galveston Area Council (HGAC).
From intersections and sidewalks, to traffic flow, drainage and lighting, the TIP projects will bring
a host of enhancements to Energy Corridor commuters and pedestrians. The projects are
sponsored by a combination of The Energy Corridor District, Texas Department of
Transportation (TxDOT) and The City of Houston.
"Improving transportation and mobility in The Energy Corridor is one of our prime missions,"
explains John Nunez, Transportation Manager for The Energy Corridor District. "These five
projects will bring significant upgrades to several busy Energy Corridor roadways and
intersections. The end result will be safer, more efficient ways to travel for both drivers and
pedestrians."
A total of $24.73 million in Energy Corridor projects were approved by H-GAC Transportation
Policy Council, which provides policy guidance and overall coordination of transportation
planning activities within the Houston region.
Memorial Drive from N. Eldridge Parkway to N. Kirkwood Rd. will be reconstructed and widened
to a four-lane divided road, in a large $15.5 million project that will bring intersection, traffic
signal, lighting, sidewalk and drainage improvements to travelers in the area. Drainage ditches
will be replaced with storm sewers and the Turkey Creek bridge will be rebuilt. More than $13
million of the cost will be funded by the federal government, while the City of Houston chips in
another $3.3 million.
Along State Highway 6, $3.25 million of improvements will be made to medians, intersections
and pedestrian treatments from US 290 to IH 10. TxDOT will contribute $1.95 million, while the
federal government adds $1.3 million.
IH-10 will see significant enhancements to help both drivers and pedestrians.
The freeway will be reconfigured from 10 to 12 lanes west of SH 6 to Beltway 8 in a $3 million
transportation improvement effort. Intersections along the route will also see upgrades. TxDOT
will fund $600,000 of the project, with the remaining $2.4 million coming from the federal
government.
From Barker Cypress Rd. to Kirkwood Rd, six intersections along IH-10 will get enhanced
pedestrian ramps, crosswalks, signal improvements, lighting, safety and aesthetic
enrichments. Of the $2.6 million estimated to complete the project, the federal government will
provide $2.09 million, with a local contribution of $522,000.
That work will begin with a $412,000 preliminary engineering design for those six
intersections, with $330,000 in federal funds and $82,522 in local support.
"We are excited to see these projects get the green light, as they will help drivers, cyclists and
pedestrians," says Nunez. "The Energy Corridor District will continue its work to bring improved
transportation and transportation alternatives to West Houston."
The H-GAC's Transportation Policy Council provides policy guidance and overall coordination of
the region's transportation and air quality planning activities. The Council consists of 26
members representing cities and counties, TxDOT, the Metropolitan Transit Authority of Harris
County (METRO) and three at-large members appointed by the H-GAC Board of Directors.
Study to Identify Strategies to Improve Roadway, Pedestrian/Bicycle Networks and Development
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Seeking to improve the ways people get to, from and around The Energy Corridor is one of the
goals for a comprehensive multi-modal transportation study that shifts into gear this summer.
The Greater West Houston Subregional Planning Initiative study intends to explore different
land use and transportation scenarios for a large chunk of West Houston - from the Grand
Parkway to Blalock Road, and FM 529 to Bellaire Blvd.
Ultimately, the planning study will identify a host of short- to long-range projects that can help
improve transportation mobility in Greater West Houston, an area expected to grow mightily
during the next decade.
The study will look at virtually all ways people get around The Energy Corridor and West
Houston, from local streets and toll ways, to transit, pedestrian and bicycling networks.
The study will also look at future development scenarios. The idea, say study stakeholders, is
to encourage responsible development choices, ones based on enhancing the overall quality of
life within Greater West Houston.
Walter P. Moore is the transit consulting firm for the study. Walter P. Moore is also the General
Engineer consultant to the Energy Corridor District and is now working on the New Freedom
Grant sidewalk and ramp improvement project currently underway.
Project goals include:
• Develop a consensus on the vision and growth scenario(s) of the Greater West Houston
Region
• Develop growth projections and alternative urban design and development concepts
• Improve mobility for all modes of transportation, while balancing the quality of life for
existing and future residents within the study area
• Recommend best practices for transportation infrastructure and urban design to
maximize multi-modal access to development
• Protect environmentally sensitive areas & green spaces
• Develop a transportation plan with a sustainability theme to help guide transportation
investments within this region
• Develop feasible and practical recommendations that can be easily integrated into other
local and regional plans
Stakeholders for the Greater West Houston Subregional Planning Initiative include:
• The Energy Corridor District
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• City of Houston
• Westchase District West Houston Association Memorial City Management District METRO
• Harris County
• Harris County Toll Road Authority
• Gulf Coast Rail District
• Houston-Galveston Area Council
• TxDOT
• Energy Corridor Fast Becoming Leading Gulf Coast Region for Business, Research Confirms
•
• With one of the state's lowest vacancy rates for Class A offices and a swelling work force,
The Energy Corridor District has become a significant driver of Houston's economic growth,
according to the latest research findings.
• With 84,000 employees, The Energy Corridor District is now the city's second largest
employment center, confirmed an in-depth study by CDS Market Research, a Houston-based
marketing research and analysis firm. And employment is expected to grow to 147,000 by
2030, CDS reported.
• Meanwhile, a recent market review by CBRE, a globally recognized real estate research and
services firm, reported that Houston added 118,000 jobs during that past year, many of those
in The Energy Corridor.
• Class A vacancy in The Energy Corridor is now at 0.9 percent, fueled by the stout growth of
the energy industry, according to CBRE. Citywide, Houston's suburban submarkets added 1.1
million square feet of offices during the first quarter of 2013 alone.
• The Energy Corridor District now has nearly 21 million square feet of commercial office and
mixed use space, a number projected to swell to more than 38 million square feet by 2030,
according to the CDS market report. Of that existing space, 75 percent is Class A, CDS says, with
another 6.5 million square feet under construction or proposed, part of that coming from
Energy Center III, a 20-story speculative project on Eldridge Parkway.
• In fact, office and retail under construction and proposed for The Energy Corridor District
could add soon another 22,000 employees to the area, according to CDS.
• The research firm also says nearly 44 percent of Houston's engineers and architects live
within a 30-minute drive of The Energy Corridor, with dense concentrations of those specialists
coming from neighborhoods west, south and northwest of the District. The Energy Corridor
District is strategically located at the geographic center of the region's engineer occupied
households. No wonder the area is receiving so much attention.
•
• Development, Acquisition, Leasing Expert Bruce Fincher Steps Up to Serve ECD Board
•
• Bruce Fincher is bringing 35 years of development, acquisition, leasing and asset
management expertise to The Energy Corridor District Board of Directors. Fincher replaces
longtime board member Alan Cochrane, who stepped down last month to move east and spend
time with his family.
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• Fincher is no stranger to big deals.
• "Bruce Fincher's knowledge of Houston's commercial and industrial real estate market
runs deep," says Clark Martinson, General Manager of The Energy Corridor District. "His
experience will prove valuable in a district that's an international draw for investors and one of
the region's most vigorous employment centers. We're delighted he's volunteering for the ECD
board."
• He's also no stranger to serving on volunteer boards. Fincher served as president of
Houston chapter of NAIOP (Commercial Real Estate Development Association).
• Fincher is Founder and President of Fincher Companies, which focuses on retail and
commercial land development. His company has developed, acquired or started a broad range
of properties, including service centers, commercial land, restaurant build-to-suits, multi-tenant
industrial, low-rise office and retail strip developments.
• Before he started his own firm, Fincher acquired and developed properties for The
Midway Companies, Schlumberger, Weingarten Realty Investors and Fincher & Fincher, Inc.
• For global oil industry giant Schlumberger, Fincher redeveloped the company's former
home on the Gulf Freeway, now home to the University of Houston's Energy Research Park. He
also spent several years advising Schlumberger on real estate transactions throughout North
America.
• At Weingarten, an NYSE real estate investment trust, Fincher acquired in excess of $30
million of industrial properties. He acquired 670,000 square feet of service center space while
at Midway, and developed two multi-tenant warehouse projects. The longtime Houstonian
began his commercial and industrial real estate work with Fincher & Fincher, developing bulk
distribution buildings, service centers, single story and mid-rise office buildings.
• Fincher splits his free time between visiting his grandchildren, golfing and hunting. He
and his wife, Dee Dee, have two grown children, Lindsey and Travis. The couple attends
Houston's First Baptist Church.
CIP Memorial Drive Reconstruction
The City of Houston has started a large Capital Improvement Plan (CIP) project to rebuild
Memorial Drive from Kirkwood to Eldridge. This is a mobility project that when finished, will solve
many of the traffic problems we now experience.
Six bids on Memorial
Low bid: $32,720,726
High bid: $38,878,875
Remaining 4 bids: $37-38 million
Low bid was $5 million below second.
Three bids for Kirkwood-Dairy Ashford panel replacement.
Low bid: $841,168
Current Project Status/Remarks:
Bid Set: http://bidsets.publicworks.houstontx.gov/documents/plansets/
project_manual_n_000798_0001_4.pdf
Other Info for Bid: http://bidsets.publicworks.houstontx.gov/index.php/bid-sets/view_category?
layout=columns
Advertisement Date: May 7
Advertisement Information:
Project Name: Memorial Drive Paving And Drainage Improvements
WBS Number: N-000798-0001-4; CSJ No. 0912-70-082
Bid Date: May 7, 2015
Project Location: Bound by IH-10 on the North, Briarforest on the South, North Kirkwood on
the East and North Eldridge Parkway on the West for the section from Memorial Drive from
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Kirkwood Road to North Eldridge Parkway
Project Manager: Michelle Randon, P.E. Phone Number 832-395-2238
Estimated Construction Cost: $27,728,075.00
Prebid Meeting: Tuesday, April 28, 2015, at 10:00am, 14th Floor, ConferenceRoom No. 1453,
611 Walker Street, Houston, Texas 77002
Construction Start Estimate: Fall 2015
Supporting Project Data:
Overhead Drawings showing revised median openings - received 5/7/2014
These are large PDF files, Google will not render them with full detail. Once the file is on your
screen in Google docs, download and save them (hit the down arrow on the top left of the
screen), then open them in Adobe on your computer for full resolution.
Western Section
Center Section
Eastern Section
Preliminary Engineering & Design - Contract document for Memorial CIP preliminary engineering
Tech Review Committee presentation on the Eldridge/Memorial Intersection redesign. This is an
example of the process PWE uses to determine the design solution. Warning - this is a very
large file.
Tech Review Presentation 2/21/12 - Warning 22M
Access Management Study - Dated April 2013 (now obsolete)
Summary
Appendices A-D
Appendix E, overhead views (opens another page)
Access Management Study - Dated October 22 2013
These are very large PDF files, Google will not render them with full detail. Once the file is on
your screen in Google docs, download and save them (hit the down arrow on the top left of the
screen), then open them in Adobe on your computer for full resolution.
Western Section
Center Section
Eastern Section
PWE Access Management Comment Form - Please send to PWE by Nov 22.
The community is working on decorative lighting and planting the green spaces to make this
project more attractive.
Lighting Project:
Street Lighting Plans Layout Sheet 1 Sheet 2 Sheet 3
Beautification Project:
Project Flyer
Adopt An Esplanade - For more info see Green Houston programs
Background and Historical Documents
Super Neighborhood Infrastructure Committee Recommendations
The SN recommendations were collected by the Infrastructure Committee over a period of
several months and those recommendations were sent as a letter to Council Member
Pennington on August 12, 2010.
The Energy Corridor Management District sent their recommendations in August 2010.
SBISD sent their recommendations in September 2010.
SN letter of support for Memorial Drive CIP outlining the anticipated growth in the area
(9/27/2012)
COH letter acknowledging the SN letter of support (10/5/2012)
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Mayor Parker's response (10/9/2012)
Infrastructure Committee Generated:
Rob Benz's Memorial Project Overview (presented to SN Meeting on Nov 28, 2011)
Rob's pictures of the Memorial Project (pictures taken at the Nov 30, 2011 public meeting)
9.3.1.1 SKANSKA West Memorial Place
Skanska moves forward on second controversial Energy Corridor tower
Jan 21, 2015, 5:11pm CST Updated Jan 22, 2015, 10:00am CST
INDUSTRIES & TAGS Commercial Real Estate, Construction
· Roxanna Asgarian Reporter Houston Business Journal
The second tower of the West Memorial Place complex is slated to be complete in the
Skanska has received a building permit for a second Energy Corridor office high-rise.
The core and shell construction and parking garage will cost $110 million.
West Memorial Place II will have 380,000 square feet of spec office space and will have
a similar layout as the first building in the complex, the existing West Memorial Place.
The complex sits on the 12-acre site where Arco's former building was located, as well
as Lake Thicket, a two-acre pond that was home to a multitude of ducks and other
wildlife. Neither the former Arco building Arco was acquired by London-based BP
PLC (NYSE: BP) in 2000 nor Lake Thicket remain on the site.
"Then again, we're talking about commercial real estate. From that perspective, it's going
to be very nice-looking," Navissi said. "Of course tall trees have a different look. But at
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the end of the day, from the commerce side of it, it's going to be extremely positive."
The first building on the site, West Memorial Place, is 12 stories and 58 percent
leased. Petroleum Geo-Services, whose U.S. operation is Houston-based, is the largest
tenant, occupying 125,000 square feet. West Memorial Place II, which will be 14 stories
and has not yet begun leasing, is expected to be complete in the spring of 2016.
Skanska USA Building is the general contractor on the project and Saint Louis-
based HOK is the architect.
Both buildings are hoping to be LEED Platinum certified. Skanska said they will be the first
spec office buildings of that distinction in the Energy Corridor.
Gregory Mondshine, a leasing director at Skanska, said they've made landscaping a
priority, and are putting in more trees than they've taken out.
"It's a unique campus setting right there on Memorial with direct access to the park,"
Mondshine said. "That connection to nature is one of our biggest selling points."
With West Memorial Place, Skanska is introducing a next generation building for a future-
focused city. Progressive, LEED-Gold designed and lifestyle-focused, West Memorial
Place is a stylish, efficient office setting that supports business success and where
employees can thrive.
Contact Us
For Leasing Information
Greg Mondshine
Skanska
Director - Leasing
713.401.5265
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greg.mondshine@skanska.com
Tyler Garrett
Skanska
Manager - Leasing
713.401.5232
tyler.garrett@skanska.com
Katie Tahbaz
Skanska
Associate - Leasing
713.401.5260
katie.tahbaz@skanska.com
Overall Development Project Facts
Project Description
Energy-efficient glass and stone exterior
Minimal columns
Location
In the center of Houston’s Energy Corridor
Unique campus setting adjacent to Terry Hershey Park Hike & Bike Trails
Access
Removed from the direct congestion of I-10 yet with excellent access to I-10, Highway 6,
Eldridge Parkway, Beltway 8 and the Grand Parkway
Three access points off Memorial Drive
Amenities
Adjacent to Terry Hershey Park Hike & Bike Trails
24/7 Security
Card key access system
On-site property management
Parking
4/1,000 Ratio
Enclosed, conditioned walkways to buildings
Sustainability
Designed to be LEED Platinum Certified and to consume 30% less energy than typical
baseline buildings
Sustainable features including a demand control ventilation system and energy recovery
wheel provide energy efficiency and tenant convenience
Daylight harvesting and motion detection systems in the garages
Electrical
6.9 watts PSF of power
Dual power feeds from two separate substations
Underground utilities provide security and beautify area
Backup generator location available for tenant use
Developer
Skanska USA Commercial Development
Architect
HOK, Houston
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Building I Project Facts
Address
15375 Memorial Drive
Houston, Texas, 77079
Building Size
12-story, 331,000 SF Class A office building
Nine-level parking garage with 1,326 parking spaces
Project Description
Floor 2: 23,088 rentable square feet
Floors 3-6: 29,301 rentable square feet
Floors 7-12: 28,655 rentable square feet
Energy-efficient glass and stone exterior
8-10 column-free corner offices per floor
Building Amenities
Fitness Center
Showers and lockers
On-site café
Parking
Nine levels of garage parking
Three garage elevators with air conditioned vestibules
Building II Project Facts
Address
15377 Memorial Drive
Houston, Texas, 77079
Building Size
14-story, 385,000 SF Class A office building
Eight-level parking garage with 1,319 parking spaces
Project Description
Floors 2-14: 28,571 rentable square feet
Up to eight column-free corner offices per floor
Building Amenities
Fitness Center
Showers and lockers
On-site café
Parking
Eight levels of garage parking
Three garage elevators with air conditioned vestibules
9.3.1.1.1 Petro Geo Services
Petro Geo Services
15375 Memorial Dr, Houston, TX 77079
(281) 509-8000
Petroleum Geo-Services (PGS) offers a broad range of products including seismic and
electromagnetic services, data acquisition, processing, reservoir analysis/interpretation
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and Multi Client library data. We help oil companies to find oil and gas reserves offshore
worldwide.
Overview
PGS was founded in Norway in 1991, with two seismic ships and some highly innovative
ideas on how to reshape the industry. Today we share the same drive to innovate as
inspired our founders, though the team is bigger:
12 offshore seismic vessels
30 offices worldwide, employing over 70 nationalities
PGS has its headquarters in Oslo, regional centers in London, Houston and Kuala Lumpur,
and a presence in 21 countries. The PGS share is listed on the Oslo stock exchange
(OSE:PGS).
9.3.1.1.2 Siemens
9.3.1.1.3 Venari
9.3.1.1.4 Phase II
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9.3.1.1.4.1 IHI EPC
Houston Office
IHI E&C International Corporation
1080 Eldridge, Suite 1300
Houston, Texas 77077
TEL:(713) 270-3100
IHI E&C, an engineering and construction company serving the energy industry,
has signed a lease to occupy 158,050 square feet of office space in West Memorial
Place II, a 14-story building under construction in the Energy Corridor.
The company, which specializes in the petrochemical, refining, chemical and
natural gas industries, will occupy floors 3 through 8 in the new building beginning
in January 2017.
Skanska USA Commercial Development is the developing West Memorial Place
office project just south of Memorial Drive and west of Terry Hershey Park.
The 385,000 square-foot building will complete the campus, which includes West
Memorial Place I, a 331,000-square-foot building that opened in February 2015.
Both buildings are expected to achieve a LEED Platinum certification. Building
amenities will include a fitness center with lockers and showers, and an on-site
café offering healthy dining options.
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“IHI E&C has grown significantly in recent years and expanded its Houston
presence,” president Glyn Rodgers said in a statement. ““This dynamic, energy-
efficient new space and prominent location on Memorial Drive will give our
growing company flexibility for growth and superb visibility.
The HOK-designed building is under construction and will top out in October.
Mark O’Donnell of Savills Studley represented IHI E&C.
IHI E&C is an engineering and construction company that is an integral part of IHI’s
global network of companies and joint ventures. Here at IHI E&C, we specialize in
engineering, procurement and construction (EPC) services that give us the expertise
and manpower to take a project from conception to completion to ongoing support.We also
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have an extensive network of highly-qualified engineering and construction individuals
to manage and execute our global projects. Our personnel are experts in the EPC field and
are familiar with the latest technologies.Our diverse portfolio of clients has given us
experience and expertise in delivering cost effective and safe solutions in the energy,
petrochemical, refinery, chemical and natural gas industries.
The financial backing and expertise of our parent company, IHI Corporation, gives us the
ability to be a multidisciplinary corporation. This diverse structure allows us to offer a full
range of services to our clients.
Part of our company culture and structure is centered around Health, Safety and
Environment (HSE). Every one of our employees is committed to controlling risk factors
and promoting safety throughout all stages of the business. This ensures that we bring
the highest level of HSE to our entire project lifecycle.
IHI E&C International Corporation (IHI E&C), a wholly-owned subsidiary of IHI Corporation,
is a Houston-based engineering, procurement and construction (EPC) company
providing energy solutions around the globe. We are a talented collaboration of people
with extensive technical knowledge and expertise that allow us to deliver projects in a
variety of industries, including Gas Processing and Liquefied Natural Gas (LNG),
Petrochemicals, Chemicals and Polymers, Synthesis Gas and Derivatives, and Refining.
Our comprehensive understanding of project life-cycles combined with our full-service
capabilities enable us to span the entire project development cycle, from feasibility
studies and front-end development to comprehensive EPC work, commissioning and
start-up. Our technological expertise is indicative of the value that we offer our
customers, our shareholders, and society.
Specialties
Engineering, Procurement, Construction
Website
http://www.ihi-ec.com
Industry
Oil & Energy
Type
Public Company
Headquarters
1080 Eldridge Parkway Suite 1300 Houston, Texas 77077 United States
Company Size
201-500 employees
9.3.1.2 Republic Square
Republic Square at old ExxonMobil Chemical Site
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Super Neighborhood Minutes
May 2015
The area along I-10 will be home to the majority of Republic Square’s corporate tenants, with
2.6 million square-feet of office space throughout multiple Class A office buildings.
The plan also features 100,000 square-feet of retail and restaurant, including a 35,000 square-
foot fitness center; approximately 800 multi-family residential units; and two full-service
hotels with connected conference space, all placed around a central public open space, the
Square.
The Square is designed to be a distinctly urban place lined with casual, outdoor and fine-dining
restaurants, ample green space with a mix of formal and natural landscaping, all connecting to
fountains and an existing water feature. It will serve as the heart of the development, a
gathering place for social events, concerts, and programmed activities both day and night.
The area situated between the Square and Terry Hershey Park serves as a nature-oriented
transition from the park to Republic Square. Tree-lined streets are positioned to provide views
into the park, while pedestrian and bicycle paths will provide physical connections to the park’s
trails. Additionally, the positioning of the Square, opening towards the existing pond, makes for a
central place for outdoor dining and entertainment.
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Republic Square is accessed from existing roads, and its goal is to alleviate traffic by creating
multiple entry points. It’s planned as a “park-once” environment where visitors will be
encouraged to park in one place and make all desired stops on foot, instead of driving from one
destination to another. All elements of the development will be accessible by foot within three
to four minutes.
A 7-10 year building cycle is planned to complete the project.
Plans move forward on $1 billion mixed-use in the Energy Corridor
May 29, 2015, 5:00am CDT
Roxanna Asgarian Reporter Houston Business Journal
Phase I of Republic Square will break ground early next year.
Almost a year and a half after buying 35 prime acres in the Energy Corridor, a Houston
developer has started site work on a much-anticipated mixed-use project on the former site
of Exxon Mobil Corp.’s chemical operations. However, breaking ground on such a large-
scale project on a speculative basis at a time when many energy companies are
downsizing could be risky.
But Wade Bowlin, executive vice president at PM Realty Group, is not worried.
“The cycles are so short in Houston. With completion (for the first phase) set for 2017, and
with the product type we are delivering, we feel positive that we’ll be in a good position by
then,” Bowlin said.
Dubbed Republic Square and coming with a $1 billion price tag over 10 years, the
development will include up to five office buildings with 2.6 million square feet of space,
two full-service hotels and 800 apartment units. There will also be 100,000 square feet of
retail, including a 35,000-square-foot high-end gym, a beer garden and restaurants. An
existing conference center will be revamped.
The first phase of the development, which will include at least one office building fronting
Interstate 10, a parking garage, a hotel and the “central square” with retail and open-air
event space, will break ground in early 2016 and will begin to deliver in 2017.
But plans have long been underway.
“We spent 16 months coming up with 30 or 40 plans for this space,” said Samuel Norod,
principal of Boston-based Elkus Manfredi Architects, which designed the development.
“We studied urban areas all over the world. We know, over centuries, what works as a
great urban space. We want to create an energy that will make this the heart of the Energy
Corridor.”
The site has 1,000 feet of frontage on I-10, 800 feet of frontage on Memorial Drive and
borders Terry Hershey Park — a 500-acre public park which connects neighborhoods
and businesses with 11 miles of wooded green space.
The park will be a primary component of the plan, said Dan Leverett, executive vice
president at PMRG.
“Republic Square will provide something they don’t have in the Energy Corridor,”
Leverett said. “We want to create a place where people will perceive the intimacy and
activity of the ground level. It will be a place where people will be rewarded to walk.”
Part of the development calls for new through streets and new bike lanes created as
extensions of the bike trail system. Barriers to the park that existed under Exxon’s
ownership — there was a fence along the property for security reasons — will be removed,
and easy access to and from the park will be promoted.
“Typically, people who work in the Energy Corridor drive there to work in the morning,
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drive to lunch, drive home,” said Bowlin. “We want to change the dynamics, not only in this
development but in the Energy Corridor itself, to be more walkable, bikeable, with more
people using the shuttles — lots of things that don’t exist right now.”
The players
Developers: Greenwich, Connecticut-based Atlas USA Holdings LLC, Houston-based
PM Realty Group
Architects: Boston-based Elkus Manfredi Architects, Houston-based Kirksey as the
architect of record and Connecticut-based Pickard Chilton to design potential build-to-
suit office space
General contractor: Not determined
Consultant: Tom D’Alesandro of Blakefield LLC, former CEO of the Woodlands
Development Co.
Landscape architects: Boston-based Sasaki Associates, and Austin-based TBG Partners
is the landscape architect of record
Civil engineer: Austin-based Bury Inc.
Leasing: PMRG
Developer plans urban-style enclave in Energy Corridor
By Nancy Sarnoff
May 28, 2015 Updated: May 28, 2015 12:15am
•
A Houston developer wants to bring a bit of urban sensibility to the Energy Corridor, a
section of west Houston known for its suburban office campuses, chain-filled strip malls
and outsized apartment buildings.
The developer, PM Realty Group, is committing $1 billion to building a bustling mixed-
use community of upscale apartments, outdoor restaurants, hotels and high-rise office
towers housing companies seeking to recruit a younger generation of workers who value
the outdoors, collaboration with colleagues and an abundance of amenities.
The company says the new development, which it has christened Republic Square, will
give the area a "soul."
"We saw an opportunity to create a heart for the Energy Corridor," said Dan Leverett,
executive vice president and managing director of development, said this week during a
presentation outlining the project at the company's downtown offices.
The developer, along with a team of national consultants, designers and planners - some
of whom helped develop the commercial district of The Woodlands - has spent the last
16 months creating a master plan for the 35-acre site along Interstate 10 that formerly
housed the chemical operations of Exxon Mobil Corp.
REAL ESTATE
•
Construction is scheduled to begin next year, and the first office building could break
ground before the company finds a tenant to occupy it.
Yet the timing is complicated by the ongoing slump in crude oil prices, which is slowing
demand for space in the area dominated by energy companies. As a result, there's a
growing amount of empty office space in west Houston.
At the end of March, the amount of available office space in the Katy Freeway market
area reached 26 percent, up from 14 percent the same time last year, according to
commercial real estate firm Savills Studley, which specializes in representing tenants.
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"There are not as many deals as there were a couple years ago," said Mark O'Donnell,
executive vice president of the company's Houston office. By and large, those deals
involve companies that are moving because their leases are expiring, not because
they're growing, he said.
O'Donnell noted four new office buildings looking for tenants within a "stone's throw" of the
PM Realty site.
"It's just a lot of space out there," he said.
Leverett said Republic Square is a long-term project that will be developed over perhaps
10 years.
The property, formerly home to ExxonMobil Chemical Co., is between Interstate 10 and
Memorial Drive, bordering Terry Hershey Park, a 500-acre public park that winds through
the Energy Corridor.
Walkable environment
PM Realty, which plans to tie its development into the park, aims to create a walkable
environment. The layout arranges buildings around a series of open, public spaces and a
system of pathways and tree-lined streets that connect the development to the surrounding
area. A central public square will be lined with restaurants and greenspace, and an
existing lake will be incorporated into the project.
The project will stand in contrast to other developments in the Energy Corridor.
As it is now, the area comprises a series of large, "isolated tracts that don't interact,"
said Alan Ward with Sasaki Associates. The Massachusetts-based firm, which is
also one of the firms designing a master plan for the Energy Corridor's
management district, has been hired as the landscape designer for Republic Square.
Other consultants on the project include national firms Elkus Manfredi Architects
and Pickard Chilton.
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The buildings there will be laid out in such a way that encourages walking, Ward said.
"What really matters is the fabric that ties them together," he said. "That I feel is what we're
going to do much differently than what exists today."
The developer is taking an urban approach to the site by combining as many as
800 residential units with five office buildings totaling 2.6 million square feet, two
full-service hotels with connected conference space and 100,000 square feet of retail
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space including a fitness facility. The scale of the buildings will be in the 14- to 16-
story range, though some could be shorter or taller.
The design and amenities incorporated into Regent Square will be a draw to companies
seeking a dynamic office environment, said development consultant Tom D'Alesandro, one
time president and CEO of The Woodlands Development Co. and now president of
Blakefield LLC.
Office workers, particularly millennials, place a higher premium on workplace
environments, he said.
PM Realty said "the capital is currently in place to develop the entire project," but it
would not reveal specifics.
New type of street grid
The first phase, to include an office building, parking garage, hotel and conference
center, fitness facility and additional retail, as well as the public square, is
scheduled for completion by early 2018, the company said.
The site will have a new street grid system that the developer said will help alleviate
congestion despite the higher density of the project.
Exxon Mobil had about 700 employees who worked on the property previously, said
Clark Martinson, general manager of the Energy Corridor District. In the new complex, he
said, "We'll probably have 1,000 people living on site and a couple thousand
people working on the site and hundreds of people visiting daily."
Massive mixed-use underway on former Exxon Chemical site
May 28, 2015, 12:00am CDT UPDATED: May 28, 2015, 7:49am CDT
Republic Square will include up to five office buildings with 2.6 million square feet of
space, two full-service hotels, and 800 apartment units.
Roxanna Asgarian Reporter- Houston Business Journal
Although speculative construction has all but halted since the slide in oil prices, one big-
time development is betting big on the Energy Corridor.
Republic Square, a mixed-use complex on 35 acres off Interstate 10 that was formerly
the site of Exxon Mobil Corp.'s (NYSE: XOM) chemical operations, will be breaking
ground early next year, according to PMRG, which is developing and leasing the project.
Coming with a $1 billion price tag over 10 years, the final development will include
up to five office buildings with 2.6 million square feet of space, two full-service
hotels, and 800 apartment units. There will also be 100,000 square feet of retail,
including a 35,000-square-foot high-end gym, a beer garden and restaurants. An
existing conference center formerly used by Exxon will be kept and revamped.
The first phase of the development, which will include at least one office building
fronting Interstate 10, a parking garage, a hotel and the "central square" with retail
and open-air event space, will break ground in early 2016 and will begin to deliver
in 2017.
Boston-based Elkus Manfredi is the architect of the development. Houston-
based Kirksey is the architect of record and Connecticut-based Pickard Chilton has been
tapped to design potential build-to-suit office space. Tom D'Alesandro of Blakefield LLC,
who is the former CEO of the Woodlands Development Co., is consulting on the project.
Boston-based Sasaki Associates is the landscape architect, and Austin-based TBG
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Partners is the landscape architect of record. Bury Inc., also based in Austin, is the civil
engineer.
The site has 1,000 feet of frontage on I-10 and 800 feet of frontage on Memorial Drive, and
borders Terry Hershey Park a 500-acre public park that connects neighborhoods and
businesses with 11 miles of wooded green space.
A priority for the space, the developers said, is increased walkability and a sense of
urban closeness that is lacking in the Energy Corridor.
"Typically, people who work in the Energy Corridor drive there to work in the morning,
drive to lunch, drive home," said Wade Bowlin, executive vice president at PMRG. "We
want to change the dynamics, not only in this development but in the Energy Corridor
itself, to be more walkable, bikeable, more people using the shuttles lots of things that
don't exist right now."
Dan Leverett, Executive VP – PM Realty Group Memorial SN Minutes 6-22-15 Page 8 Alan
Ward, Sasaki Associates (Landscape Architects for the project) The area along I-10 will be
home to the majority of Republic Square’s corporate tenants, with 2.6 million square-feet of
office space throughout multiple Class A office buildings. The plan also features 100,000
square-feet of retail and restaurant, including a 35,000 square-foot fitness center;
approximately 800 multi-family residential units; and two full-service hotels with
connected conference space, all placed around a central public open space, the Square.
The Square is designed to be a distinctly urban place lined with casual, outdoor and fine-
dining restaurants, ample green space with a mix of formal and natural landscaping, all
connecting to fountains and an existing water feature. It will serve as the heart of the
development, a gathering place for social events, concerts, and programmed activities
both day and night. The area situated between the Square and Terry Hershey Park
serves as a nature oriented transition from the park to Republic Square. Tree-lined
streets are positioned to provide views into the park, while pedestrian and bicycle paths
will provide physical connections to the park’s trails. Additionally, the positioning of the
Square, opening towards the existing pond, makes for a central place for outdoor dining
and entertainment. Republic Square is accessed from existing roads, and its goal is to
alleviate traffic by creating multiple entry points. It’s planned as a “park-once”
environment where visitors will be encouraged to park in one place and make all desired
stops on foot, instead of driving from one destination to another. All elements of the
development will be accessible by foot within three to four minutes. A 7-10 year building
cycle is planned to complete the project.
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A respected name in real estate.
PM Realty Group has 60 years of history providing industry-leading commercial real estate
services to our clients.
1954 - Company founded by Fletcher Emerson to provide facility management services
to Texas National Bank Building in Houston. One year later, the Company begins
providing third-party services to other owners, soon employing over 110 people and
providing management services to many buildings in the Houston area.
1974 - Fletcher Emerson Company sells to Century Corporation. The company is renamed
"Property Management Systems".
1970s to 1980s - Property Management Systems drastically expands into a national
company during the real estate boom, acquiring numerous third-party assignments from
pension funds, insurance companies, and institutional investors around the country.
1990 - An investment group, led by Jupiter Realty Corporation, organizes a buyout and
Property Management Systems emerges as PM Realty Group, Ltd.
1998 - Executive management team, with the backing of a major investment banking firm,
completes an asset purchase of PM Realty Group, Ltd. PM Realty Group, LP emerges
from the transaction. Executive management diversifies and expands the new company's
service offerings to become a fully integrated property services company.
2004 - PM Realty Group hits 150 million square foot benchmark for services provided to
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commercial and corporate clients.
2006 - PM Realty Group Development team breaks ground on The Heights at Park Lane in
Dallas, a 2.5 million square foot mixed-use project. Combined with other development
projects, PM Realty Group and partners have directed over $1.6 billion of development
projects.
2009 - PM Realty Group establishes an office in Boston to service the 12 million square
foot Hackman Capital Partners portfolio.
2010 - PM Realty Group begins construction on 1400 Hi Line, a 23-story, 340,000 square
feet mixed-use project in Dallas, Texas.
2011 - PM Realty Group establishes offices in Charlotte, North Carolina and West Palm
Beach, Florida to facilitate growth with existing clients.
2012 - PM Realty Group expands its industrial footprint by adding over 2.5 million square
feet of industrial space across the east coast to its portfolio.
2014 - On behalf of a client, PM Realty Group acquires a 35-acre parcel of land in west
Houston that will ultimately result in a mixed-use development valued at $1 billion
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation's leading
real estate companies focusing on comprehensive property services, development and
acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality
services to its clients and investors. PMRG's clients and investors include large financial
institutions, advisors and high net worth individuals. By capitalizing on the team's
experience and expertise, PMRG has the ability to undertake large and challenging
management, leasing, development and acquisition projects.
PMRG's portfolio, including projects managed for third parties, includes commercial
office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical
facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real
estate fundamentals. For additional information, visit www.pmrg.com.
For information about a career at PMRG, join our Talent Network: http://www.jobs.net/
jobs/pm-realty-group/en-us/
Specialties
Property and Facility Management, Leasing, Marketing and Research, Investment Sales,
Development, Engineering and Construction, Acquisitions
· Website
http://www.pmrg.com
· Industry
Real Estate
· Type
Privately Held
· Headquarters
1000 Main Suite 2400 Houston,Texas 77002 United States
· Company Size
1001-5000 employees
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· Founded
1954
9.3.1.3 Westlake
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Amid job cuts, BP looks to sublease space at its Westlake campus
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Feb 12, 2015, 12:10pm CST
BP is seeking to sublease some of the office space on its Westlake campus in the Energy
Corridor.
Jordan Blum Reporter- Houston Business Journal
As the energy supermajor cuts thousands of jobs globally, U.K.-based BP PLC (NYSE: BP) is
looking to sublease office space in two of the buildings that make up its U.S. headquarters.
BP is offering office space of about 240,000-square feet in two of the Westlake campus
buildings that it leases, but does not own. The Westlake campus is in Houston's energy corridor.
The office spaces being made available are the Westlake Two and Westlake Three buildings, BP
spokesman Brett Clanton confirmed. The space represents about 11 percent of BP's total office
space on the campus. The buildings already have some other tenants.
Westlake Park (Houston)
Westlake Park
Westlake Park is a 58-acre (23 ha) office complex located in the Energy Corridor, Houston,
Texas, United States. The complex, located east of Texas State Highway 6 between Interstate
10 and Memorial Drive, consists of One Westlake Park, Two Westlake Park, and Three Westlake
Park. Hines was the developer of the complex, and Skidmore, Owings and Merrill was the
architect of the complex. The complex, with a net rentable area of 401,000 square feet
(37,300 m2) and 3,635 square feet (337.7 m2) of retail space, has BP, KBC Advanced
Technologies, Mariner Energy, and Oxy Permian as major tenants.1
One Westlake Park consists of a 28 story building and a 5 story building, with a total of
949,968 square feet (88,254.9 m2). The complex contains the BP Americas headquarters.1
The 17 story Two Westlake Park, which contains 381,327 square feet (35,426.4 m2) of space,
was completed in 1982. The building, which contains Class A office space.1 The building
includes the 55,000 square feet (5,100 m2) WestLake Club, an athletic and social club, is located
on a 5 acres (2.0 ha) plot of land.1 The tower is just over 97 percent occupied. Tenants include
Conoco-Phillips, BP and Merrill Lynch.2 Younan Properties bought the building on September
26, 2007 from Wind Realty Partners of Chicago.2 Zaya Younan, chairman and chief executive
officer of Younan Properties, said that he wanted to be the largest office landlord in the Bayou
City.2 The purchase of the Two Westlake Park gave the firm a total of 1,700,000 square feet
(160,000 m2) of Class A office space in Houston.2
The 20 story Three Westlake Park, which contains 428,000 square feet (39,800 m2) of space,
was completed in 1983. A 1,247 car parking garage is located next door to Three Westlake
Park.1 In 2002 an affiliate of General Electric Pension Trust gained an 80% interest in the
property for about $47 million. At the end of September 2006 Three Westlake Park was almost
100% occupied. Its tenants included Amoco Production Co., Conoco-Phillips and Exxon Mobil. On
December 11, 2006 a joint venture of the GE affiliate and Crescent Real Estate Equities Co. sold
the building to Falcon Real Estate. Crescent expected to acquire about $17 million in net
income.3
Four Westlake Park, which was a park of the complex, has 561,065 square feet (52,124.6 m2).
In 2006 an affiliate of GE Pension Trust and Crescent Real Estate Equities Co. sold the building to
Falcon Real Estate. As of June 30, 2006, BP occupied more than 90 percent of the building.4
The WestLake Child Development Center is the on-site daycare.5
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Table: Westlake Tenants
ADVANCIAL CREDIT UNION 501 WESTLAKE PARK
BLVD
77079 $1,457
BP AMERICA INC 501 WESTLAKE PARK
BLVD
77079 $17,348
BP AMERICA PRODUCTION CO 501 WESTLAKE PARK
BLVD
77079 Pending
BP AMERICA PRODUCTION
COMPANY
501 WESTLAKE PARK
BLVD
77079 $38,908,208
BP AMERICA PRODUCTION
COMPANY
501 WESTLAKE PARK
BLVD
77079 $42,140,894
BP CORPORATION (NA) INC 501 WESTLAKE PARK
BLVD
77079 Pending
BP CORPORATION (NA) INC 501 WESTLAKE PARK
BLVD
77079 $39,588
BP PIPELINE (NA) INC 501 WESTLAKE PARK
BLVD
77079 Pending
CBRE, INC 501 WESTLAKE PARK
BLVD
77079 Pending
COMPASS ONE LLC - BLDG 1 501 WESTLAKE PARK
BLVD
77079 Pending
COMPASS ONE LLC - BLDG 1 501 WESTLAKE PARK
BLVD
77079 Pending
COMPASS ONE LLC - VENDING 501 WESTLAKE PARK
BLVD
77079 $4,520
CROTHALL HEALTHCARE INC 501 WESTLAKE PARK
BLVD
77079 $1,011
ESS 501 WESTLAKE PARK
BLVD
77079 $7,151
FEDEX OFFICE #1913 501 WESTLAKE PARK
BLVD
77079 $9,465
HEWLETT-PACKARD COMPANY 501 WESTLAKE PARK
BLVD
77079 Pending
AMOCO PROPERTIES 540 WESTLAKE PARK
BLVD
77079 Pending
ADVANCIAL CREDIT UNION 550 WESTLAKE PARK
BLVD
77079 $4,541
AT & T CORPORATION 550 WESTLAKE PARK
BLVD
77079 Pending
CONOCO-PHILLIPS COMPANY 550 WESTLAKE PARK
BLVD
77079 $4,892,798
INFINEUM USA LP - BAYWAY 550 WESTLAKE PARK
BLVD
77079 Pending
WESTLAKE DELI 550 WESTLAKE PARK
BLVD
77079 $3,838
WESTLAKE PARK ASSOCIATION 550 WESTLAKE PARK
BLVD
77079 $10,909
WESTLAKE THREE TENANT LLC 550 WESTLAKE PARK
BLVD
77079 $13,497
KBSII TWO WESTLAKE PARK LLC 570 WESTLAKE PARK
BLVD
77079 $5,489
BANK OF AMERICA NA 580 WESTLAKE PARK
BLVD
77079 Pending
BP FEDERAL CREDIT UNION 580 WESTLAKE PARK
BLVD
77079 $62,720
BPZ ENERGY INC 580 WESTLAKE PARK
BLVD
77079 $257,311
CONOCO PHILLIPS CO 580 WESTLAKE PARK
BLVD
77079 $3,569,757
MARLIN HOUSE HOLDING LTD 580 WESTLAKE PARK
BLVD
77079 Pending
MARUBENI ITOCHU STEEL
AMERICA
580 WESTLAKE PARK
BLVD
77079 Pending
MARUBENI-ITOCHU TUBULARS
AMERICA INC
580 WESTLAKE PARK
BLVD
77079 Pending
MARUBENI-ITOCHU TUBULARS
AMERICA INC
580 WESTLAKE PARK
BLVD
77079 Pending
MERRILL LYNCH PIERCE
FENNER & SMITH INC
580 WESTLAKE PARK
BLVD
77079 Pending
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PERCENTO TECHNOLOGIES
INTL LP
580 WESTLAKE PARK
BLVD
77079 $11,600
PERCENTO TECHNOLOGIES
INTL LP
580 WESTLAKE PARK
BLVD
77079 $6,706
RAYMOND JAMES & ASSOC INC 580 WESTLAKE PARK
BLVD
77079 $26,513
SYNERGEN CONSULTING 580 WESTLAKE PARK
BLVD
77079 $89,834
SYNERGEN CONSULTING 580 WESTLAKE PARK
BLVD
77079 $5,572
9.3.1.4 Conoco
Conoco Headquarters Eldridge and I-10
Owner Name &
Mailing Address: TCH ENERGY CENTER THREE LLC
2800 POST OAK BLVD STE 2300
HOUSTON TX 77056-6173
Legal Description: RES A1 BLK 1
TCH ENERGY CORRIDOR
Property Address: 0 N ELDRIDGE PKY
HOUSTON TX 77079
Owner Name &
Mailing Address: TCH ENERGY CORRIDOR VENTURE LLC
2800 POST OAK BLVD STE 2300
HOUSTON TX 77056-6173
Legal Description: RES A BLK 1
TCH ENERGY CORRIDOR
Property Address: 935 N ELDRIDGE PKY
HOUSTON TX 77079
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ConocoPhillips to lease 850,000 SF in Energy Corridor campus
ConocoPhillips (NYSE: COP) has signed an 850,000-square-foot lease for Energy
Center Three and Energy Center Four, Dallas-based Trammell Crow Co. and Principal
Real Estate Investors confirmed Tuesday.
The Houston-based exploration and production company is leasing the entire 550,000-
square-foot Energy Center Three, as well as 300,000 square feet in Energy Center Four.
ConocoPhillips is expected to move into the 20-story Energy Center Three, which broke
ground in December, by the second quarter of 2015. Energy Center Four is expected to
break ground in the fourth quarter this year, with ConocoPhillips moving into the 22-
story, 600,000-square-foot tower in the second quarter of 2016.
The Energy Center towers will be home to ConocoPhillips' lower-48 business unit
employees, which will relocate from other space in the Energy Corridor, spokesman
Daren Beaudo told the Houston Business Journal. ConocoPhillips will continue to maintain
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its main campus at 600 N. Dairy Ashford, which has more than 1 million square feet,
Beaudo said.
The move will help the company centralize its lower-48 operations and allow
ConocoPhillips to "continue to make our mark on Houston's Energy Corridor," Beaudo
said.
The Class AA towers, at the southwest corner of Interstate 10 and North Eldridge Parkway,
are targeting LEED Gold certification.
Dallas-based Balfour Beatty Construction is the general contractor, and Houston-based
Kirksey Architecture is the lead designer. Trammell Crow and Principal Real Estate
Investors, the real estate group of Des Moines, Iowa-based Principal Global Investors,
are developing the towers.
Aaron Thielhorn, Kevin Schmok, and Brandon Houston with Trammell Crow and Joe
Wanninger with Principal Real Estate Investors will lead the development team.
Executive Vice President Cody Armbrister and Senior Vice President Steve Rocher with
CBRE's Houston office represented the joint venture in the transaction.
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Energy Center Five set to break ground, new details emerge on
other two towers May 19, 2014, 4:33pm CDT UPDATED: May 21, 2014, 8:56am CDT
Jenny Aldridge Reporter- Houston Business Journal
As new details emerge on its other two Energy Corridor towers, Houston-based
Trammell Crow is set to break ground on Energy Center Five in the third quarter of this
year, which will be designed to accommodate either one large tenant or multiple tenants.
Houston-based ConocoPhillips (NYSE: COP) inked the largest prelease of 2013 — 1.2
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million square feet in Energy Centers Three and Four developed by Houston-based
Trammell Crow Co. with partner PrinREI and designed by Kirksey Architecture.
ConocoPhillips’ Lower 48 business unit, which is focused on oil and gas development in
the continental U.S., will be the primary tenant of the two towers. It's corporate and
functional staff remain at the company's nearby 62-acre Dairy Ashford main campus.
Energy Center Five, also a spec project, currently has no signed tenants and is being
designed by Kirksey. Energy Center Five will be part of the same 18.9-acre property in
the Energy Corridor situated on Katy Freeway. PDR of Houston will design the interior
space. It will deliver in the second quarter of 2016. “The core and the shell of the
building are being designed in a way to accommodate a single or multiple tenants,” said
Brandon Houston, senior vice president of Trammell Crow’s Houston-business office. “All
three buildings include higher floor heights on the first three floors to accommodate any
amenities the tenant or tenants may want.”
Energy Center Three includes a second-floor conference center and a third-floor
cafeteria with a balcony that overlooks a landscaped park and views of downtown
Houston. ConocoPhillips signed a 12-year lease for 100 percent of Energy Center Three
and Four.
“These buildings will have a real iconic presence on the freeway,” said Scott Cutlip,
senior designer for Kirksey.
The first two towers include lantern lighting on the roofs to illuminate them from a distance.
The lighting on Energy Three will have the capacity to change color.
The 20-story Energy Center Three, located at 935 N. Eldridge Parkway, will be
completed by the end of the year, and ConocoPhillips plans to move into the building in
May 2015. The building includes a nine-level, freestanding parking garage.
The 22-story Energy Center Four, at 925 N. Eldridge Parkway, will be completed late
next year, and the company plans to move into it in April 2016. The building includes a 10-
level, free-standing parking garage. “The special thing about Energy Center Four is that
it will include a two-story sky window that will protrude out taking advantage of views to the
north and east,” said Cutlip.
CBRE Houston will oversee the leasing of the newest building, which some are
speculating will be leased by ConocoPhillips. However, that has not been confirmed.
“There is still a lot of pent-up demand for quality office space. We think the energy industry
is going to continue to grow and add jobs. That’s what we are banking on,” Houston said.
Houston-based Balfour Beatty is overseeing the construction on all three towers.
9.3.1.5 Shell
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9.3.1.5.1 Woodbranch
Stena/PM Realty is moving forward on its Woodbranch Park development with a 175,000-
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square-foot office structure with Jacobs Engineering as the primary tenant.
9.3.1.6 Grisby Square
Dedication ceremony for The District’s “street for living” set for Sept. 24
Creating a safer, shared street while improving drainage, The Energy Corridor District
has opened its Fortsmith Street woonerf in Grisby Square, one of Houston’s iconic
restaurant districts.
A dedication ceremony featuring City of Houston public works officials and transportation
demand experts is set for 10 a.m. Thursday, September 24, on Fortsmith Street between
Stafford and Addicks-Howell streets.
First introduced in the Netherlands, the woonerf – defined as a street for living – has
transformed Fortsmith Street from a dirt, sometimes muddy road into a pedestrian-friendly
lane that calms traffic and uses permeable pavers to facilitate storm water drainage in
the popular restaurant area nestled among rambling Live Oaks, just a stone’s throw from
the bustling Katy Freeway.
“We set out to create a shared space that’s both safer and more aesthetically appealing for
pedestrians, cyclists, vehicles and business patrons,” explains Clark Martinson, The
District’s general manager. “It is a fundamental departure from the standard American
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approach to traffic management.”
Houston’s new woonerf is as distinct as the rural-tinged nature of Grisby Square, a place
that would seem more at home in old agricultural Addicks than in one of the fastest-
growing employment centers in the nation.
To get the woonerf built, The District partnered with the City of Houston, which owned the
land. After numerous discussions and reviews, city planners approved the project, a
radical departure from the city’s design manuals, granting authority to The District to
construct the woonerf and change Fortsmith Street into a one-way road.
Designed to heighten Grisby Square’s identity, the Fortsmith Street woonerf enhances
its walkable character while complimenting the sprawling shade trees and great local
restaurants.
It allows lateral pedestrian access through a series of spaces across the driveway to the
Grisby Square restaurants, rather than linear access requiring separate sidewalks. In a
woonerf, vehicles may not impede pedestrians, who in turn may not unreasonably hinder
the progress of drivers. The woonerf encourages people to share a single travel lane
with slow-moving vehicles.
The way the Fortsmith Street woonerf handles storm water drainage is dramatically
different than other Houston roads. The woonerf uses an inverted crown roadway and
permeable pavers, allowing storm water to pass through to the drainage field below the
street. That design improves drainage, while lessening the load on Houston’s storm
water system.
The District hopes the woonerf pilot project could serve as a model for creating more
walkable, shared streetscapes in Grisby Square and throughout The Energy Corridor.
“Ultimately, we want a highly livable place that’s enjoyable and people-oriented, attracts
and retains employees, increases property values and facilitates business development,”
explains Martinson.
Join as we celebrate a new shared street in The Energy Corridor.
Energy Corridor’s Grisby Square to get facelift
Oct 13, 2014, 1:08pm CDT
The area known as Grisby Square in the Energy Corridor will receive a $300,000
upgrade through a pilot program initiated and funded by the Energy Corridor District.
The Energy Corridor District’s Woonerf Streetscape Project, which broke ground Oct.
13, will focus on improving pedestrian and cyclist safety as well as the aesthetics of the
area along Fortsmith Street between Stafford and Addicks Howell streets, which is known
for its large live oak trees. The project is slated to be completed in February.
Woonerfs — curbless streets that feature more pedestrian-friendly designs and low
speed limits — were first introduced in the Netherlands in the 1970s, said Clark Martinson,
general manager of the Energy Corridor District. The project will include a single lane of
pavers, angled parking, new landscape and a sustainable drainage system.
“This area was selected because of the unique character of the landscape and
businesses. It’s like a little Gruene, Texas, in the Energy Corridor District,” Martinson said.
The Woonerf Streetscape Project is designed by the Houston office of Walter P. Moore
Engineers and Houston-based Asakura Robinson Co. LLC. The general contractor is
Jerdon Enterprises LP of Windcrest, Texas.
If successful, the project may also pave the way for others like it in the Energy Corridor,
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Martinson said. Members of the district are also eyeing improvement projects for
Fortsmith Street between Highway 6 and Stafford Street, extending the Woonerf project
to the west and also a project at Stafford Street and Grasshopper Lane.
The pilot project is part of The Energy Corridor Livable Centers Plan, which includes a
mixed-use project that will support transit, pedestrian and bicycle usage so people can
“live, work, ride and play” in the Energy Corridor. The district recently put out a request
for proposals to urban planning and design firm as it moves forward on designing the plan.
The Energy Corridor has seen a flurry of activity over the last year with several new
projects breaking ground or under construction.
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9.3.1.7 Eldridge Place
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Eldrige One, Two and Three
Eldridge Three is 100% occupied by BP who has also purchased Eldridge One and
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Two suggesting long term intentions for future development.
9.3.1.7.1 Eldridge Oaks Encalve at Eldridge
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9.3.1.8 Central Park
Wolff Companies’ Central Park is the largest remaining parcel of land available for
development in The Energy Corridor. It is a master-planned environment located on the
north side of Interstate 10 between North Eldridge Parkway and State Highway 6.
Envisioned uses include high-end office, multi-family, hotel, retail and healthcare.
MD Anderson Cancer Center, the nation’s leading cancer care hospital and our first
tenant, plans to build a world class medical center on the property. The Worthing
Companies have broken ground on “The Heights at Park Row”, a 342-unit luxury
apartment building that will open at the end of 2014.
The development is accessible directly from Interstate 10, Park Row and the Interstate
10 Managed Toll Lanes. Central Park’s superior accessibility and location make it an
ideal corporate headquarters site for the growing Houston market, as well as other
commercial uses.
In developing the project, Wolff Companies continues its legacy of respecting and
enhancing a property’s natural environment. We have established protective covenants
to control signage, landscaping, parking and building materials. Furthermore, Central
Park is adjacent to Terry Hershey Park and Addicks Reservoir, which ensures that 50%
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of the development will always be bordered by permanent green space. These features
assure that Central Park remains a first-rate development that will not only maintain, but
also increase in value over time.
Park Row will soon connect Central Park to Eldridge and west to the City of Katy
PROPERTY INFORMATION
Size and Location
Central Park is a 80-acre development situated in the heart of The Energy Corridor. It is
located is on the north side of Interstate 10 between North Eldridge Parkway and State
Highway 6, with over 1,500 feet of frontage on Interstate 10. Central Park is bordered by
Terry Hershey Park to the east and by Addicks/Cullen Park on the north. METRO’s
Addicks Park & Ride is located just to the west.
Accessibility
Interstate 10, the Katy Freeway, provides quick access to some of Houston’s finest
residential communities as well as other major commercial centers of the city. The
freeway was recently widened to 22 lanes, including managed lanes and service roads.
The Katy Freeway is one of the busiest in the region and carries over 328,000 cars each
day.
An Interstate 10 Managed Lanes access ramp is located just west of Central Park. This
allows for quick ingress and egress to points east and west, even in periods of high
congestion.
Park Row, a major thoroughfare that parallels Interstate 10, is the "Main Street” of The
Energy Corridor, providing additional traffic circulation. Park Row has been constructed
from the Addicks Park and Ride through Central Park West Boulevard. Upon completion
Park Row will run through Central Park, connecting Dairy Ashford to State Highway 6 and
then continue westward to the Grand Parkway and the town of Katy.
State Highway 6, located west of the site, is a six-lane highway providing high-speed
north-south access through the western part of the metropolitan region.
Development Standards
Central Park is subject to protective covenants that ensure high-quality development.
The covenants and related development guidelines establish minimum standards for
land use, building materials, landscaping, signage and other similar matters.
AREA INFORMATION
The Energy Corridor is the central business district of the greater West Houston
metropolitan area. Immediate neighbors include BP, ConocoPhillips and Shell Oil. Other
nearby companies include Sysco, Wood Group/Mustang Engineering, Foster Wheeler,
Worley Parsons, Technip, CITGO Petroleum and Gulf States Toyota, Methodist West
Houston Hospital and Texas Children’s Hospital. Major employers continue to be
attracted to the area’s well-educated workforce, quality housing and strong school districts.
Demographics
The number of households within 10 miles of Central Park is estimated to be 563,000,
and is expected to grow by almost 9% over the next five years. The current average
household income is over $80,000 per year. (Source: Claritas, Inc.)
Housing
Central Park is conveniently located near a variety of residential areas for executives
and employees. High-quality executive housing in prestigious neighborhoods such as
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Kelliwood, Cinco Ranch, Fleetwood and the Memorial Villages are a quick commute
from Central Park. Other communities offering mid- and entry-level housing are located
minutes away in every direction from the development. A number of new multi-family
developments are also located in the immediate area.
School District
Central Park is located in the Katy Independent School District, one of the highest rated
school districts in the State of Texas.
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9.3.1.9 Park Ten
Mr. David Hightower indicates that there is a need for a 4 Star or better hotel in the Energy
Corridor to accommodate the needs of energy executives that have recently moved to
the Hotel Sorella from Downtown.
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