Arena Energy to take old CB&I space in The Woodlands
Arena Energy will fill a large portion of CB&I’s former headquarters at 2103 Research Forest Drive in The Woodlands.
The privately held independent oil and gas producer, which got its start in The Woodlands nearly 20 years ago, has signed a lease for 87,231 square feet in Lake Front North in Hughes Landing, the Howard Hughes Corp. announced.
Howard Hughes Corp. recently acquired the two building, 258,058-square-foot campus on the east side of Lake Woodlands. The seller was CB&I, which moved out after being acquired by McDermott International this year.
Arena Energy, which operates in the shallow-water Gulf of Mexico along with its Arena Offshore affiliate, will move into floors two through four of Building 1 in mid-September. The four-story building has a fitness center with locker rooms on the first floor and access to a waterfront park. The new headquarters is about a mile from its current location.
“We view this move as a steppingstone to recommit to our employees in our longterm Gulf of Mexico perspective,” Arena Energy managing director Michael Minarovic said in an announcement. “We are looking forward to creating an environment for collaboration in a newly designed space and taking advantage of the amenities that Hughes Landing has to offer.”
The Lake Front North campus also has a six-story building with a multipurpose conference room, executive conference room and a data center, and 4.2 acres for future development.
Separately, McDermott International announced a lease for Energy Center Five on Eldridge Parkway in the Energy Corridor. The company will consolidate five of its 10 leased locations in Houston to the 524,000-squarefoot building next year.