TCC and Prudential Real Estate Investors Announce New Office Building Development in West Houston

Construction Has Commenced on One Grand Crossing Development

HOUSTON, TEXAS – Trammell Crow Company and Prudential Real Estate Investors today announced a joint venture to develop One Grand Crossing, a Class A speculative three-story office building comprised of 172,000 square feet. The 8-acre site is located in the 124 acre mixed-use Grand Crossing development at the southwest corner of Grand Parkway and Interstate 10. Construction on One Grand Crossing has begun and the offices will be ready for occupancy in the fourth quarter of 2015.

“Businesses in Houston continue to seek new, high-quality office environments that are close to where its employees live, and West Houston is where those companies want to locate,” said Brandon Houston, Senior Vice President with Trammell Crow Company’s Houston Business Unit. “One Grand Crossing is providing a rare opportunity to become part of the commercial core of West Houston as the area continues to grow and prosper. The building is designed to be smart, sophisticated and accommodating at every level with large, efficient rectangular floorplates and 60% vision glass, increasing flexibility and optimized natural daylight for all our tenants.”

One Grand Crossing is part of a new, mixed-use development with planned hospitality, dining and residential options within walking distance. The building will be a “slip-H” rectangular, tiltwall concrete structure with an efficient floor plate design, including two separate 28,000 square foot floor plates for a total of 56,000 square feet per floor. A combination of structured and surface parking will provide a minimum parking ratio of 4.5 spaces per 1,000 RSF. The project will incorporate lush green space throughout and a water amenity for tenant enjoyment. The development team is seeking LEED® Silver Certification. 

The site sits at the intersection of I-10 and the Grand Parkway and offers direct entrance and exit options, as well as tremendous signage opportunities from both major roadways. Once inside the Grand Crossing development, roadways and pedestrian sidewalks throughout the campus provide simple inner-campus access between individual buildings as well as between office and retail sites.

Construction financing is provided by Cadence Bank.  The general contractor is Rosenberger Construction and the project is designed by Powers Brown Architecture. Leasing will be handled by Bonnie Kelley and Dave Hanusa with CBRE Houston.

About Prudential Real Estate Investors
Prudential Real Estate Investors is the global real estate investment business of Prudential Financial, Inc. (NYSE: PRU). Investing in real estate on behalf of institutional clients since 1970, PREI® today has more than 650 employees located in 20 cities around the world, and gross assets under management of $59.3 billion ($43.7 billion net) as of June 30, 2014.  PREI offers to its global client base a broad range of real estate investment vehicles across the risk-return spectrum and geographies, including core, core plus, value-add, opportunistic, debt, securities, and specialized investment strategies.  For more information, visit www.prei.com.  

About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2014, Trammell Crow Company had $5.1 billion of projects in process and $2.9 billion in its pipeline.

Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.

Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.

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