posted on April 07, 2011 20:59
Willbros Group Inc. has doubled its amount of office space in Five Post Oak Park in preparation for a consolidation of four Houston locations.
The Houston-based engineering, procurement and construction company signed a 10-year lease for 87,000 square feet in the building at 4400 Post Oak Parkway. Previously the firm leased 44,000 square feet.
Willbros (NYSE: WG) will have its 250 Houston office employees under one roof, with room to add 50 more, said David Guion with Cushman & Wakefield of Texas Inc., who represented Willbros on the lease with colleagues Tim Relyea and Joe Peddie.
“They’ve grown through acquisition throughout the year,” Guion said. “They wanted to get all of their people together.”
Construction on the newly leased space will be finished by the end of November. The company is gaining some layout efficiencies, so it will occupy a little less square footage overall once the consolidation is complete, Guion said.
Willbros, which serves the oil and gas industry, refinery, petrochemical and power industries, also has one Fort Worth office and industrial locations throughout Texas.
Clint Bawcom and Brian McMackin of Cassidy Turley represented landlord Shorenstein Properties LLC on the Willbros transaction.
Paul Grafft, senior vice president of asset management with Shorenstein, said this is the largest lease signed at the 567,000-square-foot Five Post Oak Park in the past 10 years.
“Although this is our largest deal to date, there have been 20 smaller leases completed at the building in the last 30 days,” Grafft said in a statement.
3/23/11, Jennifer Dawon, Houston Business Journal