(HOUSTON, TX) – Parkway, the privately owned, fully diversified real estate investment, operations, and management firm, today announced a new lease with Empyrean Benefit Solutions, Inc. (Empyrean)at CityWestPlace, elevating the West Houston office campus’ leased space to an impressive 98%. This milestone, alongside recent leases with Bechtel Energy (Bechtel)and Noble Corporation (Noble), underscores CityWestPlace's dominance in the Houston market, attributed to its exceptional amenities and prime location.
Empyrean, a leader in technology-enabled benefits administration services, has secured 41,667 square feet at 2103 CityWestPlace Blvd (Building 4), planning to occupy two full floors by early 2025. Mark O’Donnell, President of Savills’ Texas region, and Senior Managing Director Jennifer Meehan facilitated the lease negotiations on behalf of Empyrean. Savills’ Corporate Managing Director Patrick Miller will handle design and construction consulting services for Empyrean.
Bechtel, a global leader in engineering, procurement, construction, and project management, has expanded its footprint by an additional 108,724 square feet at 2103 CityWestPlace Blvd (Building 4), spanning four floors, with move-in slated for the third quarter of 2024. CBRE Vice Chairman Kevin Kushner and Senior Vice President William Padon brokered this expansion. In total, Bechtel's 394,000 square-foot Houston presence now extends across Buildings 3 and 4 at CityWestPlace.
Noble, a global offshore drilling contractor, is relocating operations from a Houston suburb into 110,250-square-feet of space at 2101 CityWestPlace Blvd (Building 1), occupying three floors by early 2025. Savills' Mark O’Donnell, Corporate Managing Director Jim Bell, and Senior Managing Director Jennifer Meehan represented Noble in the transaction. Savills’ Corporate Managing Director Ed Bowerman will handle design and construction consulting services for Noble’s new space.
"We are thrilled to welcome such prestigious companies into campus life at CityWestPlace," said Eric Siegrist, Parkway’s Managing Director of Leasing for Houston. "These leases and the campus’s blue-chip tenant roster are clear indicators of the market demand for best-of-the-best office environments, as well as the ongoing trend of businesses seeking immersive, amenity-rich workplaces in prime locations. When the decisionmakers of these major corporations lay eyes on the experiential nature of the CityWestPlace campus coupled with its convenience to the key commuting centers in Houston, they see an immediate advantage in recruiting and retaining talent."
Located in Houston’s Westchase District, CityWestPlace is a 39-acre, master-planned, Class-A office campus encompassing four buildings with over 1,470,000 rentable square feet alongside extensive outdoor spaces that are recognized nationally for their landscaping. CityWestPlace offers tenants a range of amenities, including conference spaces, multiple dining options, and unrivaled indoor and outdoor recreational offerings complete with two fitness centers, trails, a jogging track, and sports fields. CityWestPlace was extensively renovated in 2020, and in 2022, Parkway was awarded The Houston Office Leasing Brokers Association's "Deal of the Year" for Bechtel Energy's 15-year lease at CityWestPlace 3 and 4.
Parkway's leasing achievements span multiple markets, showcasing its ability to meet diverse tenant needs. In Houston, in addition to CityWestPlace’s leasing success, East River has achieved 95% occupancy for its office offerings. In Florida, Baldwin Point in Orlando recently reached 100% occupancy following significant enhancements, including a lobby renovation and new amenities. At 1111 Brickell in Miami, Parkway's major repositioning increased occupancy from 74% in March 2020 to 98% as of December 2023. These accomplishments across Houston and Florida demonstrate Parkway's expertise in redefining office spaces throughout the Sun Belt region by providing exceptional amenities, curating engaging environments, and delivering best-in-class asset and property management services.
Lease negotiations for the new CityWestPlace lease with Empyrean, Bechtel, and Noble were managed by JP Hutcheson and Rima Soroka, Senior Managing Directors, on behalf of Parkway.
For more information about Parkway and its properties, please visit www.pky.com.
###
ABOUT PARKWAY
Parkway was formed when Orlando-based Parkway Property Investments and Houston-based Midway, two nationally recognized commercial real estate firms with over 100 years of collective experience, partnered to create a privately owned, fully diversified real estate investment, operations, and management firm.
Headquartered in Houston, Parkway has a presence in 13 markets across Texas, Florida, Georgia, Virginia, Arizona, Colorado, and California. With a combined 30 million square feet of assets under management, including developments in progress, the firm’s specialized capabilities include Investments and Acquisitions, Property Operations and Management, Financial Operations and Compliance, Strategic Leasing and Advisory (Retail and Office), Asset and Portfolio Management, Marketing and Creative, and Development. For more information, visit www.pky.com.
