Patrinely Group to Develop Hewlett Packard Enterprise Campus
Houston, October 31, 2018 — A joint venture of Patrinely Group, USAA Real Estate and CDC Houston, today announced plans to develop Hewlett Packard Enterprise’s (HPE) new campus. Located in Spring, Texas, this development will house the fourth major corporation to be located in CityPlace at Springwoods Village, joining HP Inc. (HPI), Southwestern Energy (SWN) and the American Bureau of Shipping (ABS).
Scheduled to break ground in the fourth quarter of 2019, the HPE development will consist of two buildings located at the southwest corner of East Mossy Oaks Road and Lake Plaza Drive and include approximately 568,000 square feet of rentable space. Amenities may include a fitness center, café and an adjoined open courtyard space. The HPE development is planned to achieve LEED certification.
A primary location for core research and development, the HPE Houston site also supports customer engagement, sales operations, supply chain, and other global functions for the company including finance, HR, and marketing.
Antonio Neri, President and CEO of Hewlett Packard Enterprise, shared that “The city of Houston remains a top location for Hewlett Packard Enterprise. We asked our employees what they were looking for in a new site. They wanted a vibrant setting, easy access to amenities and major highways, and a location close to their homes. CityPlace checked all of those boxes for us.”
Ronnie Deyo and Beau Bellow of real estate and investment management firm JLL represented HPE. Dennis Tarro of Patrinely Group, and Chrissy Wilson and Russell Hodges of JLL represented the Landlord.
“The opportunity to develop HPE’s campus is a testament to the attractiveness of CityPlace. We are creating a unique, walkable, mixed-use destination,” says Robert Fields, President and CEO of Patrinely Group, the managing partner of the joint venture. “With ABS headquarters and the HP Inc. campus opening before the end of the year, along with Star Cinema Grill and 24-Hour Fitness coming next year, the addition of HPE is a major milestone and reinforces the strength of this new urban center in north Houston.”
CityPlace is a 60-acre, fully-integrated, mixed-use development providing the growing area along the Grand Parkway corridor near the ExxonMobil campus with a new destination of choice, integrating working, shopping and living. When fully developed, the project will include the recently opened, full-service Houston CityPlace Marriott, 4 million square feet of Class A office space with 400,000 square feet of integrated retail space and additional luxury multifamily projects. The development’s five to 10-story Class A office buildings will offer parking at a ratio of up to 4.5 cars per 1,000 rentable square feet, with spaces located in all structured parking. CityPlace is the commercial urban center of Springwoods Village, a 2,000-acre master planned community.
“We are very pleased with the continued momentum of Springwoods Village as CityPlace becomes the new urban center in north Houston,” said Warren Wilson, executive vice president of CDC Houston, the master developer of Springwoods Village.
Additionally, the venture recently announced the start of construction for CityPlace 1, which has 122,700 square feet of office and 26,900 square feet of ground floor retail available for lease, located directly across from a one-acre public plaza.
For more information about CityPlace at Springwoods Village visit www.cityplacespringwoods.com
About Patrinely Group, LLC
Patrinely Group is a national real estate investment, development and management firm focused on large scale, Class A mixed-use, office and multifamily properties in major markets across the U.S. Recognized as a leader in real estate development since 1983, Patrinely Group has completed $10 billion in transactions and is experienced with all real estate asset classes. For more information, visit www.patrinelygroup.com and www.cityplacespringwoods.com.
About USAA Real Estate
USAA Real Estate, with over $21 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
About CDC Houston
CDC Houston, Inc. (a subsidiary of Coventry Development Corporation (New York) is an experienced land developer with expertise in creating mixed-use urban communities that foster smart and responsible growth for commercial and residential vitality. Coventry has provided development services for mixed-use projects in New York, Colorado, Texas and Guam over its 45-year history. In 2001, the company launched RidgeGate, also a sustainable, mixed-use community, in Lone Tree, Colorado which consists of 3,500 acres. For more information on CDC Houston, Inc.’s latest project, Springwoods Village, please visit: www.springwoodsvillage.com and connect on Facebook and Twitter.
About Springwoods Village
Springwoods Village is a 2,000-acre, master planned community situated along the west side of Interstate 45 between Springwoods Village Parkway and the Grand Parkway. Designed for sustainability, the nature-inspired commercial and residential community will provide diverse housing options, civic facilities, outdoor recreation and a mixed-use core, the 60-acre CityPlace, that includes office space, shopping, dining and lodging in an urban, walkable environment.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.