Parkway, Midway Lease 41K sf to Benefits Firm in West Houston

Parkway Property Investments and Midway Holdings have continued their leasing streak by luring a software company to CityWestPlace, further solidifying West Houston as a sought-after office destination.

Empyrean Benefit Solutions has leased 41,600-square-feet at the four-building complex, at 2103 CityWest Boulevard, with plans to relocate its headquarters. The firm will exit the nearby property at 3010 Briarpark Drive early next year. Jennifer Meehan and Mark O’Donnell of Savills represented Empyrean in lease negotiations.

The company wanted to remain in West Houston so employees wouldn’t have to drastically change their commutes, while seeking “an amenity-rich setting,” O’Donnell said.

The move further exemplifies the flight-to-quality trend that’s emerged since the pandemic, with companies flocking to modern office space in light of evolving workforce needs.

CityWestPlace, located on a 39-acre campus in the Westchase District, underwent renovations in 2020 and spans 1.5 million square feet. Amenities include on-site restaurants, two fitness centers, trails and sports fields.

Parkway and Midway bought CityWestPlace last year from the Canada Pension Plan Investment Board.

The Empyrean lease adds another tally to the win column for the landlords. Offshore drilling company Noble Corporation inked a 110,000-square-foot lease there earlier this year. They also secured recent commitments from construction company Bechtel and natural gas storage operator Enstor, which leased 82,000 square feet and 43,000 square feet, respectively.

West Houston’s reign as one the region’s hottest office submarkets is largely driven by the Energy Corridor, which accounted for 26 percent of all Houston office deals exceeding 10,000 square feet through October 2023, according to Avison Young.

In January, engineering and construction firm Fluor added about 104,700 square feet to its lease at Two Eldridge, a 14-story Class A building in the Energy Corridor. Other companies to have leased space in the area since last year include Diamond Offshore, geo-data company Fugro and tech company Technip Energies.