Archway breaks ground on Wildwood Corporate Center
April 10, 2013 by Mark
A new office property will begin building this month along the recently sold undeveloped area at 460 Wildwood Forest Drive in Spring.
Archway Development’s projected complex, the Wildwood Corporate Center, will consist of two three-story office buildings. The property will join the currently-building ExxonMobil campus in providing the area with high-demand office space, incoming jobs, and plenty of new business card printing opportunities.
The 7.47-acre site is nestled between an existing apartment complex and the Wood Winds Shopping Center. When complete the project will, according to senior vice president Terri Torregrossa of property managers Moody Rambin Interests, offer:
“…high-value office space without the premium rental rate.”
This emphasis on economy is relevant in The Woodlands, Spring, and the surrounding neighborhoods. With a current Class A vacancy rate of 2.8%, the area’s office market is tight, and space is expensive.
The first building, with construction starting this month, is 50% pre-leased. The north half of the approximately 60,000 square foot building will be occupied by 140 employees of the GeoSouthern Energy Corporation when construction is complete next January. An attached garage will provide four spaces per 1,000 square feet of office space.
Work on the second building is projected to begin later this year. The project has also sent in a petition to the U.S. Green Building Council for LEED certification.