Economic growth in South Montgomery County continues as Archway Properties will soon break ground on the 128,000-square-foot Wildwood Corporate Centre at 460 Wildwood Forest Drive, southwest of I-45 and Sawdust Road.
Archway Properties will begin construction on the 127,794-square-foot office development in early April 2013 with completion planned for January 2014, according to a press release. The three-story, two-building property is located on 7.47 acres and features 21,600-square-foot floor plates with an attached garage.
“Wildwood Corporate Centre is approximately one mile from Exxon’s new master campus and immediately accessible to I-45 and the Grand Parkway,” said Don Dennis, managing partner for Archway Properties. “For companies seeking affordable, accessible office space in The Woodlands, Wildwood Corporate Centre is an attractive alternative to the Waterway district.”
Gil Staley, CEO for The Woodlands Area Economic Development Partnership, said the center is already 50 percent pre-leased with GeoSourthern Energy Corporation planned to lease about half of the property. Staley said he believes oil and gas companies and businesses which support the oil and gas industry would be ideal for the property.
The ExxonMobil development may encourage more development like this in the region, Staley said.
“I haven’t had a client yet tell me ‘I’m moving here because of ExxonMobil,'” he said. “But I think it’s raised awareness so much that companies are thinking it’s a good idea to move where the largest corporation in the world is.”
He said more office development could come to the area to take advantage of the market.
“With Class-A vacancy pushing zero percent, it’s a good idea to take advantage of the market,” Staley said. “We welcome buildings like this in The Woodlands. We need it.”