Canyon Creek Lands Lease at Houston Office Campus
Stream Realty Partners and JLL arranged the deal.
Accounting firm Melton & Melton has leased 31,013 square feet at Canyon Creek Real Estate’s Westchase Park I, a 272,361-square-foot office building in Houston. Stream Realty Partners handled the leasing activity at the property on behalf of the ownership, while JLL represented the tenant in the deal.
Westchase Park I is part of the 15.2-acre Westchase Park office campus, a two-building property totaling 579,032 square feet. Canyon Creek Real Estate purchased the asset in June 2025 from Clarion Partners. One William Street Capital Management issued the acquisition loan, Yardi Matrix data shows.
Stream Realty Partners Managing Director Matt Asvestas and Vice President Brian Strait secured the lease deal on behalf of the ownership, while JLL Vice President Cody Little worked on behalf of Melton & Melton in the transaction.
A LEED-certified office campus
Westchase Park I came online in 2008 at 3700 W. Sam Houston Parkway South. The six-story, LEED-Platinum-certified building features floorplates ranging from 43,000 to 46,000 square feet and a multi-level parking structure with more than 800 spots. The tenant roster comprises ABB Inc., Lockwood, Andrews & Newnam and Exmar.
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Located at number 3600 on the same street, the six-story, 303,671-square-foot Westchase Park II was built in 2015. The LEED Gold-certified building features floorplates ranging from 49,000 to 50,000 square feet. The two buildings in the campus are connected by an 8,000-square-foot shared amenity space that includes a fitness center and outdoor seating area.
Just off Texas State Route 8, the campus is within 8 miles west of downtown Houston. Major thoroughfares in the area include interstates 10, 69 and 610, as well as Westpark Tollway.
Houston office market, lately
As of December 2025, Houston’s average office listing rates dropped 9.0 percent year-over-year to $27.53 per square foot, according to a recent Yardi Matrix report. The figure placed the metro at the bottom of the top 30 metros tracked by Yardi Matrix, alongside Twin Cities, Minn. ($27.38 per square foot), Orlando, Fla. ($26.56 per square foot) and Detroit, Mich. ($21.46 per square foot).
However, Houston recorded a steep improvement concerning its average vacancy rate, which plummeted 430 basis points over a 12-month period, to 20.2 percent. Peer markets that experienced sharp vacancy rate drops were San Francisco (-370 basis points), the Bay Area (-320 basis points) and Manhattan (-300 basis points).
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