Completion of Phase II, Katy Ranch Offices unphased by COVID-19 challenges2 Sep 2020
150,920-sf class A office building 30% leased within weeks of completed construction
Houston, TX – During challenging economic conditions due to the pandemic, Katy Ranch Offices, LP and Management, Freeway Properties completed construction, on schedule, of its sister building at 24285 Katy Freeway in Katy, TX, one year after breaking ground.
Escalate Workspace, a full-service office space provider, is the latest tenant to expand its office footprint in the Phase II building, set to occupy 23,000 square feet (sf), the entire 3rd floor, by November 2020.
“Since opening three years ago, we have had such a huge demand that we decided to increase our space to accommodate our growing client base of attorneys, financial planners, CPAs, engineers and many more varying industries,” said Gwen Wade, General Manager, Escalate Workspace. “In addition to private offices and dedicated hot desks, our clients will have access to an innovative conference center with state-of-the-art audio-visual equipment, large boardrooms and break-out mediation rooms, all with expanded health and safety protocols.”
Hoover Material Handling Group, a Houston-based container and chemical tank supplier, also recently announced their relocation of its corporate offices to 24285 Katy Freeway by December 2020.
“We are proud to open the doors of this mixed-use development and welcome growing businesses who are mindfully navigating these tough economic times,” said Mike Baker, President, Freeway Properties. “Our adjoining retail tenants, which offer a wide variety of restaurants, shopping experiences and entertainment venues are anxious to welcome our new tenants. The last few months have been understandably rough for them.”
The new six-story class A office building is connected via skybridge to a five-story parking garage with roll-up gates. The building features corporate training and classroom facilities, multiple conference rooms and catering areas and includes a high-tech camera system and perimeter building locking controls.
Avison Young Principals, Sam Hansen and Doug Pack, who are based in the company’s Houston office are the agency leasing team representing both class A Katy Ranch Office buildings at 24275 and 24285 Katy Freeway.
“It’s been an interesting year, to say the least, but it’s encouraging to see leasing activity in newly constructed office buildings such as Katy Ranch Offices,” commented Hansen. “Escalate expanding during this time speaks to the evolving and increasingly flexible needs of occupiers,” added Pack.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.