{"id":1004634349,"date":"2022-12-08T02:23:44","date_gmt":"2022-12-08T10:23:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004634349"},"modified":"2023-04-19T02:25:03","modified_gmt":"2023-04-19T10:25:03","slug":"wood-group-renews-226-ksf-lease-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wood-group-renews-226-ksf-lease-in-houston\/","title":{"rendered":"Wood Group Renews 226 KSF Office Lease in Houston"},"content":{"rendered":"
\"Westgate<\/a>

Westgate III. Image courtesy of Cushman & Wakefield<\/p><\/div>\n

Wood Group USA<\/strong> has signed a 226,287-square-foot lease renewal at Westgate III, an office property in Houston\u2019s Energy Corridor. The global engineering firm will continue to occupy the full building, owned by Griffin Realty Trust<\/strong>, for the next decade.<\/p>\n

According to CommercialEdge data<\/a>, Wood Group USA began leasing the property in mid-2015 as its U.S. headquarters.<\/p>\n

The four-story Class A office property is situated at 17325 Park Row on 5.9 acres, in proximity to Interstate 10, which provides access to the Greater Houston area. Completed in 2014, the LEED Gold certified building is part of Park Ten Business Center, a 550-acre business park that features 958 parking spots, according to the same data provider.<\/p>\n

Cushman & Wakefield\u2019s <\/strong>Chip Colvill and Cameron Colvill\u2014now with Whitebox Real Estate<\/strong>\u2014arranged the deal on behalf of the landlord. Representing Wood Group USA was Kevin Snodgrass, Trey Strake and Megan Madorsky, also with Cushman & Wakefield.<\/p>\n

Houston has the highest office vacancy rate across all major U.S. markets in the nation this year, standing at 25 percent, a recent CommercialEdge report<\/a> showed. The area also had among the three lowest sales prices, coming in at $160 per square foot.<\/p>\n

Despite high vacancy rates and low selling prices, the area is still seeing a high volume of transactions in both leases and deals. Recently, Cousin Properties signed a 328,000-square-foot renewal to relocate its global headquarters<\/a> to Briarlake Plaza in Houston.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield arranged the deal. The engineering firm will continue to occupy the entire Class A building. <\/p>\n","protected":false},"author":3006,"featured_media":1004634350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1589,21742,21747,51973],"tags":[32799],"class_list":["post-1004634349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-houston","category-latest","category-office","category-southwest","tag-cushman-wakefield"],"acf":[],"yoast_head":"\nWood Group Renews 226 KSF Office Lease in Houston - CPE<\/title>\n<meta name=\"description\" content=\"Wood Group USA firm will continue to lease the entire 226,287-square-foot Class A building in Houston's Energy Corridor for the next decade.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wood-group-renews-226-ksf-lease-in-houston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wood Group Renews 226 KSF Office Lease in Houston\" \/>\n<meta property=\"og:description\" content=\"Wood Group USA firm will continue to lease the entire 226,287-square-foot Class A building in Houston's Energy Corridor for the next decade.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wood-group-renews-226-ksf-lease-in-houston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-08T10:23:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-19T10:25:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Wood-Group.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/\"},\"author\":{\"name\":\"Jordana Rothberg\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/366883c93fc1efde412301ab6a4570f9\"},\"headline\":\"Wood Group Renews 226 KSF Office Lease in Houston\",\"datePublished\":\"2022-12-08T10:23:44+00:00\",\"dateModified\":\"2023-04-19T10:25:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/\"},\"wordCount\":256,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/12\\\/Wood-Group.jpg\",\"keywords\":[\"Cushman & Wakefield\"],\"articleSection\":[\"Brokerage\",\"Houston\",\"News\",\"Office\",\"Southwest\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wood-group-renews-226-ksf-lease-in-houston\\\/\",\"name\":\"Wood Group Renews 226 KSF Office Lease in Houston - 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