ConocoPhillips expands lease to 1.2M SF; more SF on the way

HOUSTON – ConocoPhillips has preleased the remaining space at Energy Center Four, bringing its total lease for the complex to 1.2 million sf and prompting the developer to start a fifth building. The building is located in the Energy Corridor at the southwest corner of I-10 and North Eldridge Pkwy.

In May, the exploration and production company signed on for 850,000 sf in the complex. That lease included all of the 22-story Energy Center Three and half of the 22-story Energy Center Four, which has site work underway.

The company will occupy the entire 550,000-sf Energy Center Three, which is expected to be complete by second quarter 2015, and the entire 600,000-sf Energy Center Four, which should be complete in second quarter 2016.

Energy Center Three has construction costs estimated at $87 million, while Energy Center Four’s cost is estimated at $90 million, according to state filings.

The developers will break ground on Energy Center Five, a 500,000-sf, 18-story tower in April 2014.