REPUBLIC SQUARE BEGINS TO TAKE SHAPE; NOW OPEN TO THE PUBLIC, ENERGY CORRIDOR CAMPUS EMBARKS ON NEXT PHASE OF ENHANCEMENTS AS LEASING AND PEDESTRIAN ACTIVITY INCREASE
Third Palm Capital to Unveil Recent Updates at Broker Open House Lunch on December 7 and
Debut 20,000 Square Feet of Collaborative Space Soon After the New Year
HOUSTON, TX – November 15, 2016 – Less than four months after Third Palm Capital announced its vision for the evolution of the former ExxonMobil Chemical Energy Corridor District headquarters, Republic Square is welcoming a flurry of renovation, leasing and pedestrian activity.
With the support of Boxer Property, which is overseeing property upgrades, as well as onsite leasing and management for Republic Square, eighteen tenants – in diverse fields ranging from finance and event planning to oil & gas – have already made the picturesque, 35-acre campus home since late September. They now occupy a freshly renovated, first floor wing at Republic Square I, an international modern style, four-story building oriented to capture views of landscaped courtyards, expansive grounds and central lake. Encompassing 320,000-square-feet of office space, Republic Square I also features an expansive commissary kitchen and multi-level garages.
“When I saw the view, I was sold,” said Lisbet Marquez, Managing Partner at DoMore Strategic Advisors, a company that provides expense reduction services for companies. “Not only could we easily envision the potential for a presence in this location, but the value and amenities were ideally suited to a growing business like ours.”
Republic Square I’s phased interior re-design, which has recently introduced coffee bars and break stations, will soon debut an updated lobby plus office-adjacent gathering pods. The recent improvements will be showcased at a December 7 broker open house lunch.
While initial interest in the refreshed product has been strong, Boxer Property and Third Palm Capital are eagerly anticipating the next stage of reinvention, which will incorporate the launch of Boxer Property’s signature co-working/collaborative office space – Workstyle – with 20,000 square feet of suites and an array of amenities, including common area lounges, meeting spaces and enhanced Wi-Fi. The product is slated to deliver soon after the New Year.
“In a market where landlords are seeing many tenants leave their buildings, we are fortunate to have a one-of-a-kind and irreplaceable setting that is serving as a major asset – alongside our growing list of amenities – to build occupancy,” said Stephen Kradjian, head of Asset Management at Boxer Property.
An extensive overhaul of the campus’ lush grounds – spanning Memorial Drive to I-10 and framed by the BP America campus and western gateway to Terry Hershey Park – is evolving with the addition of lighting, trash receptacles, pet stations and directional signage and parking upgrades to enhance accessibility and ease of use. With its perimeter fencing and dense undergrowth now gone, the property is open to the public and being embraced by area residents and nearby office workers as an idyllic, lakeside spot for a morning walk, picnic lunch or afternoon break.
According to Randall Tuller, Executive Manager for Third Palm Capital, “In its previous incarnation, the most access the community had to this incredible property was the fence. In the last three months, we’ve been able to start introducing the missing appeal. Our goal is to create an additional asset for west Houston by being a good neighbor, incorporating pedestrian-friendly connections with Terry Hershey Park, and providing a dynamic and nurturing environment that we hope will attract businesses that haven’t considered the area before.”
Republic Square is located at 13501 Katy Freeway. For leasing information, including available floorplans, call 713.777.7368 or click here.
About Republic Square
Poised to serve as a new community gathering place and hub for flexible work space in Houston’s Energy Corridor, Republic Square is owned by Third Palm Capital. After purchasing the campus from ExxonMobil Corporation in late 2013, Third Palm then leased back the improved portion of the property to ExxonMobil through April 2015. Located just west of Eldridge Road at the western gateway to Terry Hershey Park, the wooded campus spans 35 acres with prime frontage along Memorial Drive and Interstate 10. Current amenities include a central lake, 20,000-square-foot meeting and event center, and Republic Square I, a 320,000-square-foot office building with commissary kitchen. Future plans call for hotel, office, multi-family and retail development.
About Third Palm Capital
Third Palm Capital, the owner and developer of Republic Square, is a national real estate investment and development firm that relies on our guiding principles to deliver our customers and tenants the highest quality residential, commercial, and resort properties. Third Palm has over $750 million in assets and active investments in New York, California, Florida, and Texas.
About Boxer Property
Boxer Property is celebrating 24 years as an innovative commercial real estate investment and management company that specializes in maximizing the value of under-utilized properties through aggressive leasing and hands-on management. Founded in 1992, Boxer Property is a private firm based in Houston with more than 18 million square feet of commercial real estate nationwide.