DEAL OF THE WEEK
Headquarters of Crossmark Global Investments moving to Skanska’s West Memorial Place campus
Crossmark Global Investments, a longtime Houston investment manager that got a new name last year, will move its headquarters to Skanska’s recently completed West Memorial Place campus in the Energy Corridor this year.
The company, which provides investment strategies for financial advisers and institutions, has leased 16,000 square feet at West Memorial Place I, 15375 Memorial Drive, just west of Terry Hershey Park. Founded in 1987, Crossmark Global Investments changed its name from Capstone last year. Its current offices are at 3700 W. Sam Houston Parkway in Westchase.
West Memorial Place offers tenants healthfocused amenities such as a fitness center with locker rooms and showers, a bike share program, and an on-site cafe. Designed to use 30 percent less energy than typical buildings, the two-building campus is certified by the U.S. Green Building Council at the LEED Platinum level for its design and efficiency. The stone and glass buildings have floor-to-ceiling glass walls.
“The environmentally friendly design aligns well with our team’s commitment to sustainability, which is ingrained in our day-today business operations and investment decisions,” Crossmark president and CEO Mike Kern said in an announcement.
With the deal, the 331,000-square-foot West Memorial Place I is 71 percent leased. West Memorial Place II, containing 385,000 square feet, is 45 percent leased. Tenants at the campus, which opened in 2015, include PGS, Siemens, Venari Resources and IHI E&C.
The top class of office space in the Energy Corridor reached 29.4 percent vacancy including sublease space at year’s end, JLL reported. That compares with 24.7 percent for the Houston region overall.
The West Memorial campus, which took 3 feet of water following Hurricane Harvey, was among the first office properties in the Energy Corridor to recover, Skanska said.
Russell Hodges and Bubba Harkins with JLL represented Skanska in the lease. Kevin Saxe with CBRE represented the tenant.