Technip leases six floors in HQ downsizing

Technip Energies is moving its U.S. headquarters, downsizing its office footprint in Houston.

The French engineering and technology company leased the top six floors of the 14-story West Memorial Place II at 15377 Memorial Drive, in the Energy Corridor, the Houston Business Journal reported. 

JLL brokers Graham Horton and Mark Reilly represented Technip in the 171,600-square-foot lease with building owner Fuller Realty.

West Memorial place has a focus on environmental, social and governance features, Horton told the outlet.

“That was one of the key drivers for their decision,” he said.

Technip currently occupies 375,000 square feet at Mac Haik Realty’s Energy Tower II at 11720 Katy Freeway and plans to move next year, when design and prep work at the site is completed. The two West Memorial Place buildings were delivered in 2016 by Skanska, and Fuller acquired them last year.

The deal reflects a local and nationwide trend of companies downsizing in moves to newer Class A buildings. Oilfield services giant Baker Hughes cut its office footprint by roughly two-thirds last year when it moved its headquarters to the Energy Corridor — a sprawling business district that’s housed companies like BP, Shell and ConocoPhillips.

West Memorial Place is one of two office buildings in the Energy Corridor with a LEED Platinum-certified office campus, which recognizes properties with a high level of sustainability. 

Amenities at the site include two gyms, a full-service restaurant and bar, food trucks, a tenant conference center, bocce ball court and green space. Fuller plans to add a few upgrades, such as a renovated lobby, more dining options and a pavilion with an outdoor kitchen, the outlet said.

Once Technip moves in, the building’s occupancy will jump from 35 to 90 percent. Houston’s office vacancy average hovered below 24 percent in the first quarter of this yera, according to CBRE.

—Quinn Donoghue