Gulf Cos. Relocates Houston HQ

Eldridge Oaks. Image courtesy of CommercialEdge

Global engineering firm Gulf Cos. has signed a 52,148-square-foot-lease at the Eldridge Oaks office building in Houston, which will host its new headquarters. Broadshore Capital Partners owns the 349,190-square-foot property.

Gulf plans to move into the Class A building in April 2024, President & CEO Kent Wilfur said, in prepared remarks. JLL represented the tenant, while Stream Realty Partners assisted the landlord in the negotiations.

The move marks a footprint downsize for Gulf. The firm currently occupies 115,000 square feet at 16010 Barkers Point Lane, a Class B office building owned by Silver Star Properties, CommercialEdge data shows.

In recent months, Houston’s office market has begun to show signs of increased leasing activity. The metro’s vacancy rate, at 23.2 percent as of May, was 150 basis points lower on a year-over-year basis, according to a recent CommercialEdge report, but still remained one of the highest in the U.S.

Planned renovations

Eldridge Oaks rises 14 stories at 1080 Eldridge Parkway, adjacent to Terry Hershey Park in Houston’s Energy Corridor. Completed in 2009, the property features 26,074-square-foot floorplates and a parking ratio of 4 spaces per 1,000 square feet, according to CommercialEdge information. Stream Senior Vice President Brad Fricks and Vice President Matt Asvestas are the appointed leasing agents.

The LEED Gold Certified building is undergoing renovations this year as part of a multimillion-dollar capital improvement. Broadshore is working with Stream Houston, IA Interior Architects, OJB and O’Donnell/Snider Construction on the property upgrades that aim to create an environment that would focus on the health and wellness of its occupants.

Planned and ongoing improvements include the addition of outdoor amenities, a conference center and on-site food services, as well as a complete update to the first- and second-floor lobbies. Renovations are expected to wrap up this fall.