One of the biggest single-family build-to-rent builders and operators in the U.S. is moving to an area more associated with energy giants than homebuilders.
Wan Bridge will make its move to Energy Tower IV located at 11750 Katy Freeway from its Uptown-Galleria offices at San Felipe Plaza on September 19, The Real Deal has learned.
Houston’s office moves over the past year have been dominated by the city’s energy industry behemoths.
Many of those companies have moved to smaller and newer digs, but Wan Bridge will more than double its footprint, going from 11,000 square feet at its current office in Galleria up to 26,000 square feet at its new space.
“Expansion,” is the reason Wan Bridge is moving, CEO Ting Qiao told TRD. “We’re taking over some projects, BTR communities and we’re adding more staff.”
Currently, 100 employees work out of the company’s San Felipe Plaza offices, but the firm plans to add 30 to 40 more employees after the move, Qiao said. Company employees not involved in construction, operations and leasing are currently under a hybrid work arrangement with approval from their supervisors.
Wan Bridge will occupy the entire 14th floor of Energy Tower IV, and the new office space will have extra meeting and huddle rooms, a breast-feeding room, lunch, relaxation and game rooms.
Qiao declined to disclose the length and financial terms of the lease at Energy Tower IV, which is owned and operated by Mac Haik Enterprises.
Wan Bridge already has large build-to-rent communities in the Austin, Houston and Dallas-Fort Worth metros, and plans to break ground on 20 to 30 more over the next year. Qiao aims to build 30,000 homes around the state’s three major metros over the next five years.
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