The Energy Corridor is a business district in Houston, Texas, known for its energy industry. Sometimes it’s also called Harris County Improvement District #4. Energy companies based there include BP America, Citgo, and Shell Oil Company. Big-name companies in other industries include Sysco and Gulf States Toyota Distributors.
Houston Energy Corridor Office Space | Lease Data & Trends
The Energy Corridor has a total of 26 million square feet of office space, and more than 75 percent of it is Class A. These premium units rent for $35 per square foot. However, the vacancy rate for Class A spaces in Energy Corridor is only 14 percent, below the Houston metro average of 24 percent.
Energy Corridor office space in Class B buildings rent for the same price as the Houston office space average— around $21 per square foot. The vacancy rate is close to 21 percent, so those looking for workspace in this area have lots of choices.
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The Houston Energy Corridor is located between Beltway 8 and Grand Parkway. It’s north of Westchase and east of Greater Katy. Residents and visitors can get around using the Metropolitan Transit Authority of Harris County, Texas. Line 75 of the METRO used to be called Energy Corridor Connector, but now it’s called 75 Eldridge Crosstown. Most people who live here are commuters and can use I-10/Katy Freeway, 610 Loop, Highway 290, and Beltway 8 to get where they need to go. The Energy Corridor has two airports: West Houston Airport Houston Executive Airport. Biking and walking are common transportation choices as well.
Those who like to venture outside the office for lunch and business meetings won’t find the area disappointing. For some delicious cuisines, check out The Dinner Dude, Lynn’s Steakhouse, Teriyaki Madness or Pokii Eatery. Most city areas have parks, but the Energy Corridor’s geography is interesting because of the extensive parks surrounding it. More than 26,000 acres of parks, including George Bush Park and Bear Creek Pioneers Park, border the Energy Corridor.
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In the 1970s, numerous corporations in the energy industry started looking in Houston for office space. In 2001, the Texas Legislature established the Energy Corridor Management District, which is designed to use commercial taxes for public safety, district branding, and building investments. Thus, the Energy Corridor is responsible for a lot of new infrastructure including new office space. The area added as much office space between 2005 and 2015 as it did in the previous thirty years. In 2030, the amount of office space projected to be more than 45 million square feet. Today, the district employs 94,000 people and hosts more than 300 companies.
Although the Energy Corridor is known as a popular business destination, it’s also a great place to live. According to the Houston’s Best School’s report, the Energy Corridor has some of Texas’s best schools. The area has more than sixty restaurants, nine shopping centers, top-notch hotels, and plenty of safe and beautiful residential areas. Because of all the green, open spaces, golfing is a common pastime.
One of the most popular leisure destinations in the Energy Corridor is George Bush Park. It’s 7,800 acres in size, and visitors can walk, bike, fish, ride horses, picnic or camp. The park features an 11-mile trail, two large soccer fields, six baseball fields, and the American Shooting Center. Runners, bicyclists, and geocachers also like to explore Terry Hershey Park, which is smaller but includes a fun network of dirt bike trails to explore.