This article originally appeared in the Houston Business Journal.
Houston-based Moody Rambin is set to break ground soon on a new 167,141-square-foot office building next to CityCentre and Town & Country Village on the west side of town.
The eight-story Town Centre Two will be the latest addition to the company’s Town Centre development, the first phase of which broke ground in 2013.
Moody Rambin expects Town Centre Two to be completed by the third quarter of 2023, the company said in a news release. The new building will be located at 730 Town & Country Blvd.
Town Centre Two is being built with support from Galveston-based American National Insurance Co. The building was designed by Kirksey Architecture, engineered by DBR Engineering, and the landscape was designed by Kudela & Weinheimer, all based in Houston. San Antonio-based Frost Bank is responsible for providing the construction financing, and Birmingham, Alabama-based Hoar Construction will serve as the general contractor.
The Houston office of South Carolina-based Greystar has already signed on to lease three floors, a total of 68,000 square feet, in the new building. Greystar will be the first tenant to move into Town Centre Two and will bring its total occupancy to 41%. Scot Ison with Axis Tenant Advisors represented Greystar in the transaction.
“Town Centre has established a name for itself in the Houston market for providing top-tier office space to a diverse and innovative collection of international and local tenants,” Moody Rambin Managing Director Dan Moody said. “This partnership with Greystar represents the quality and resilience of Town Centre as Houston’s premier office destination. Town Centre One is 100% leased, and with the continued demand for space in the immediate area, we anticipate strong lease demand for Town Centre Two.”
When the new office project comes online next year, Town Centre will have a total of 420,855 square feet of office space between the two buildings.
The 10-story, 270,000-square-foot Town Centre One has a two-level, stone-and-wood lobby; energy-efficient construction and building systems; and all-weather access to the parking garage.
The Houston Business Journal first reported on Moody Rambin’s plans to build a second office building in the development in 2019. At the time, the building was expected to cost $22 million, according to a Texas Department of Licensing and Regulation filing. The figure on the TDLR filing has since been updated to $24 million.