By Timea Papp
JLL has arranged a headquarters relocation lease on behalf of the International Association of Drilling Contractors (IADC) at Lockton Place, a 186,000-square-foot office building in Houston’s Westchase submarket. The tenant is scheduled to relocate to its new 18,920-square-foot space in the third quarter of 2018.
Located at 3657 Briarpark Drive, Triten Real Estate Partners and USAA’s recently completed Lockton Place is now 94 percent leased. The eight-story, Class A property features a fitness center, conference room, dining lounge and outdoor gathering space.
IADC is currently headquartered at Towers at Westchase One, a multi-tenant office building at 10370 Richmond Ave. Founded in 1940, the company is dedicated to enhancing the interests of the oil and gas, as well as geothermal drilling and completion industry worldwide. Membership is open to any company involved in oil and gas exploration, drilling or production, well servicing, oilfield manufacturing or other rig-site services.
JLL Executive Vice President Chad Baker and Vice President Matt Sanderson represented the tenant, while Senior Vice Presidents Russell Hodges and Bubba Harkins—also with JLL—assisted the landlord in the lease negotiations.
“The amenities and design of Lockton Place support connection and collaboration, which are key tenets of IADC’s culture,” said IADC President Jason McFarland, in a prepared statement.
“Not only is IADC’s lease a beacon of light to the Westchase submarket, which has been heavily impacted by the energy downturn, it underscores the ‘flight to quality’ theme continuing to play out across the city’s office sector,” added Hodges.
Image courtesy of JLL