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Jan. 21, 2013

Trammell Crow, Principal Start Work on Class AA Energy Center Three

By Georgiana Mihaila, Associate Editor

A joint venture between Trammell Crow Co. and Principal Real Estate Investors have embarked on a quest to deliver the highest-quality office building in the Energy Corridor, Energy Center Three. The developers just broke ground on the Class AA, 546,372-square-foot office building on the southwest corner of I-10 and North Eldridge Parkway, on an 18.9-acre site acquired by the joint venture in March 2012.

The Kirksey Architects-designed building will feature a post-tension concrete structure with a high-performance skin including a glass curtain wall and metal panels. Plans also call for a large green area and water amenity adjacent to the building.

The 20-story Energy Center Three has already been pre-certified LEED Gold by the U.S. Green Building Council. The office building—along with its featured nine-level, freestanding parking garage—will be merely the first phase of a planned multi-phase office development.

The project marks the fifth Class A office project Trammell Crow and Principal will develop together in Houston. The venture also developed Hess Tower downtown (the 2012 winner of Commercial Property Executive‘s Distinguished Achievement Award for Best Development/Redevelopment), Energy Center I and II in the Energy Corridor and most recently Noble Energy Center One in the northwest quadrant.

“Energy Center Three demonstrates TCC and Principal Real Estate Investors’ commitment to high-quality office development in top-tier national markets. This new speculative project is reflective of our longer-term outlook for growth and expansion within Houston and specifically the Energy Corridor,” said Aaron Thielhorn, managing director with Trammell Crow’s Houston business unit.

With Balfour Beatty Construction serving as the project’s general contractor and Trammell Crow’s Aaron Thielhorn, Kevin Schmok and Brandon Houston  alongside Principal’s Joe Wanninger leading the development team, completion is expected in the fourth quarter of 2014.

A syndication of Wells Fargo Bank and U.S. Bank provided construction financing, while the leasing assignments have been awarded to Cody Armbrister and Steve Rocher with CBRE Group Inc.’s Houston office.

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