Parkway and Midway lease 41,000 square feet to employee benefits company in West Houston

Parkway Property Investments and Midway Holdings continued their leasing push by attracting a software company to CityWestPlace, solidifying West Houston as a sought-after office destination.

Empyrean Benefit Solutions has leased 41,600 square feet in the four-building complex, located at 2103 CityWest Boulevard, and plans to relocate its headquarters. The company will vacate the neighboring property at 3010 Briarpark Drive early next year. Jennifer Meehan and Mark O’Donnell of Savills represented Empyrean during the lease negotiations.

The company wanted to stay in West Houston so employees wouldn’t have to drastically change their commute, while also looking for “an amenity-rich setting,” O’Donnell said.

The move further illustrates the flight-to-quality trend that has emerged since the pandemic, with companies flocking to modern office space in light of changing workforce needs.

CityWestPlace, located on a 39-acre campus in the Westchase District, underwent renovations in 2020 and spans 1.5 million square feet. Amenities include on-site restaurants, two fitness centers, trails and sports fields.

Parkway and Midway purchased CityWestPlace last year from the Canada Pension Plan Investment Board.

The Empyrean lease adds another tally to the winnings column for landlords. Offshore drilling company Noble Corporation signed a 110,000-square-foot lease there earlier this year. They also secured recent commitments from construction company Bechtel and natural gas storage operator Enstor, which leased 82,000 square feet and 43,000 square feet, respectively.

West Houston’s reign as one of the region’s hottest office submarkets is largely due to the Energy Corridor, which accounted for 26% of all Houston office transactions exceeding 10,000 square feet until in October 2023, according to Avison Young.

In January, engineering and construction firm Fluor added approximately 104,700 square feet to its lease at Two Eldridge, a 14-story Class A building in the Energy Corridor. Other companies that have leased space in the area since last year include Diamond Offshore, geodata company Fugro and technology company Technip Energies.