[Urbannizer]

After Years of talks, new Woodlands office building on track for groundbreaking

For three years, Bob Parsley, co-chairman and principal of Colliers in Houston, has been working to get a planned north Houston office building off the ground. Throughout Houston's prolonged energy slump, interest in 10 Waterway, a proposed office building in The Woodlands, has waned.

Now that the office market's worst days are behind us, though, Parsley said he expects to lease an anchor tenant for the building this year, which would kick off the building's groundbreaking.

Parsley, alongside Colliers' Norm Munoz, is marketing 10 Waterway, which will add between 400,000 and 500,000 square feet to the Woodlands office market once it delivers. It's being planned by The Woodlands Development Co., a wholly owned subsidiary of Dallas-based Howard Hughes Corp. (NYSE: HHC). If the building breaks ground this year, it would likely deliver in 2020, Parsley said.

Interest has picked up among companies looking to take either a large portion or the entirety of the building.

"There are companies that are feeling good about the future," he said.

http://www.bizjournals.com/houston/n...-building.html