Thomas Properties Group Announces Statoil North American Headquarters Lease at CityWestPlace, Houston
09 October 2013 - 12:30AM
Business Wire
Thomas Properties Group, Inc. (NYSE:TPGI) is today announcing
that Statoil Gulf Services L.L.C., the U.S. upstream wholly-owned
subsidiary of Norwegian energy titan Statoil ASA (Aa2/AA-), has
entered into a long-term lease for 581,000 square feet as their
North American headquarters at CityWestPlace in Houston’s Westchase
District. Beginning with initial occupancy in mid-2015, Statoil
will over time occupy the entirety of CityWestPlace Building 2,
comprising 431,000 square feet, as well as extend their existing
lease for 150,000 square feet in CityWestPlace Building 4. Statoil
is significantly growing its presence at CityWestPlace from its
current occupancy of 225,000 square feet.
Thomas Properties Chairman, President and CEO James A. Thomas
commented: “The new Statoil lease at CityWestPlace fully addresses
the December 2014 lease expiration and expected departure of
Halliburton Energy Services well over a year in advance, which is a
testimony to the continued strength of this market and the appeal
of the CityWestPlace campus to multi-national corporate tenants. We
are delighted to have recently consolidated our ownership in this
unique project to 100% and to welcome the expanded relationship
with such an outstanding global firm as Statoil.”
“Statoil is pleased to continue leasing space from Thomas
Property Group on the CityWest campus. We are committed to business
in North America, staying in west Houston and having all our
employees together in one space, and the long term lease agreement
for Building Two reflects that. The relocation of our employees
into the new building across campus will begin mid-2015 and will be
a phased approach in line with our projected growth for the
future,” states Jason Nye, Statoil Senior Vice President for US
Offshore.
Originally constructed as the Texas headquarters of BMC
Software, Inc., CityWestPlace is a 30-acre campus comprising 1.46
million square feet of office space, parking and amenities. BMC
continues to lease approximately 550,000 square feet in Buildings
1, 2 and 4 of the campus. Other major CityWestPlace tenants include
Ion Geophysical, Bristow Group and Spark Energy.
CityWestPlace was designed by Keating Mann Jernigan Rottet/DMJM
and delivered in phases from 1993 to 2001. With finely detailed
modern architecture of glass, aluminum, white cement precast and
Indiana gray limestone, each of the four office buildings is either
LEED-certified or pending, as part of TPGI’s award-winning
sustainability program. A landmark in self-contained suburban
office environments, the campus features a wide array of amenities
and conveniences including 3 full service restaurants, an
auditorium and numerous conference facilities, two fitness centers
with full locker rooms, a basketball court, an athletic field, a
sand volleyball court, a running track, a bocce court, a hair
salon, an auto repair and detailing center, an amphitheatre and
grab-and-drop bicycles. Located on Sam Houston Beltway 8 just north
of Westheimer Road, the CityWestPlace towers offer clear views of
downtown Houston and the Galleria. In addition to Beltway 8,
Interstate 10, the Westpark Toll Road, Highway 6 and both Houston
airports are readily accessible from the campus. The Memorial, Katy
and Sugarland residential neighborhoods are nearby. Dedicated
parking for each of the four office buildings is provided within
individual paired garage structures. All buildings are situated
around a 10-acre architectural garden of native plants, trees and
grasses, quiet reflecting pools, custom fountains and decomposed
granite walkways. On-site property management is provided by Thomas
Properties Group.
The Colvill Office Properties leasing team of Chip Colvill,
Clark Thompson, Win Haggard Jr. and Michael Anderson represented
Thomas Properties in the lease negotiations. Mark O’Donnell of
Studley, Inc., Houston represented Statoil in the transaction.
About Thomas Properties Group
Thomas Properties Group, based in Los Angeles, is a full-service
real estate company that owns, acquires, develops and manages
primarily office, as well as mixed-use and residential properties
on a nationwide basis. The company recently announced a pending
merger with Parkway Properties, Inc. (NYSE: PKY). For more
information on Thomas Properties Group, please
visit www.tpgre.com.
About Statoil
Statoil is an international energy company with operations in 34
countries. Building on 40 years of experience from oil and gas
production on the Norwegian continental shelf, Statoil is committed
to accommodating the world's energy needs in a responsible manner,
applying technology and creating innovative business solutions.
Statoil is headquartered in Stavanger, Norway with approx. 23,000
employees worldwide, and is listed on the New York and Oslo stock
exchanges.
In North America, Statoil is established with US offices in
Houston and Austin, Texas; Stamford, Connecticut; Washington DC and
Anchorage, Alaska and Canadian offices in Calgary, Alberta and St.
Johns, Newfoundland and Labrador. The company also owns and
operates the South Riding Point crude oil terminal in the Bahamas
and has a representative office in Mexico City, Mexico.
Forward Looking Statements
Statements made in this press release that are not historical
may contain forward-looking statements which are based on TPGI’s
current expectations and assumptions. Such forward-looking
statements include, but are not limited to, statements about the
benefits of the agreements recently entered into by TPGI. Although
TPGI believes the expectations reflected in any forward-looking
statements are based on reasonable assumptions, these statements
are subject to numerous risks and uncertainties. Factors that could
cause actual results to differ materially from TPGI’s expectations
include actual and perceived trends in various national and
economic conditions that affect global and regional markets for
commercial real estate services (including interest rates), the
availability of credit and equity investors to finance commercial
real estate transactions, our ability to enter into or renew leases
at favorable rates, which can be impacted by the financial
condition of our tenants, risks associated with the success of our
development and property redevelopment projects, general volatility
in the securities and credit markets, and the impact of tax laws
affecting real estate. For a discussion of some of the factors that
may cause our results to differ from management’s expectations, see
the information under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in our Form 10-K for the year ended December 31, 2012
and our subsequent Form 10-Q quarterly reports, each of which is
filed with the Securities and Exchange Commission. TPGI disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor relations contact:Thomas Properties GroupDiana
Laing, Chief Financial Officer213-613-1900
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