Energy Corridor Office Space for Rent
The Energy Corridor is a business district in Houston, Texas, known for its influence on the global 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.
Energy Corridor Office Space | Lease Data & Trends
|Class A||Class B||Inventory||Vacancy|
|$35||$21||39 million SF||30%|
The Energy Corridor has a total of nearly 40 million square feet of office space, and nearly 75 percent of it is Class A. These premium units rent for $35 per square foot. However, the direct lease vacancy rate for Class A spaces in Energy Corridor is 22 percent, well above the Houston CBD average of 18 percent.
Class B Energy Corridor office space for rent typically goes for around $21 per square foot — similar to the Houston metro average for Class B spaces. The overall vacancy rate is close to 21 percent, so those looking for workspace in this area have lots of choices. Overall, the cost of Energy Corridor office space is comparable to offices in Midtown and The Woodlands.
What Our Brokers Say About Energy Corridor Office Space for Rent
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.
Nearby Food and Drink Options
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.
Get to Know Houston Energy Corridor
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.
About the Author
Graham Shorr is the Chief of Staff at SquareFoot. In addition to supporting the executive team on corporate strategy and operations, Graham leads North America Market Research & Analysis. Graham is an alumnus of Carnegie Mellon University.