Construction on Sustainable Asset to Take 18 Months
August 08, 2023
HOUSTON – Transwestern Real Estate Services (TRS) announces it has been named the exclusive leasing agent for Hicks Ventures’ Framework @ Block 10, a cutting-edge net zero, Carbon Neutral, Class A office project in the Katy Freeway East submarket. Transwestern’s Executive Managing Director Eric Anderson and Senior Vice President Katy Gragg will provide best-in-class leasing services for the six-story, 200,000-square-foot asset.
The project, marking a significant milestone as the region's first mass-timber building, has successfully finalized its construction plans and secured pricing and scheduling following the official announcement of its intent to build earlier this year.
“We have assembled a world-class team for Framework,” said Patrick Hicks, Principal of Hicks Ventures. “Bringing in Gensler, StructureCraft, HOAR Construction, CMTA and now Transwestern to lease it up!”
Pending the execution of the first lease, the project will break ground with an estimated construction timeline of 18 months. The project partners include general contractor Hoar Construction, architect Gensler, the national expert in mass-timber architecture, and leading mass-timber engineer StructureCraft.
“The trend is becoming a reality, and more capital wants to own and lend on carbon neutral office, said Wally Reid, Senior Managing Director of JLL Capital Markets. “Hicks team has positioned this excellent West Houston location with the preeminent asset.”
In addition to sustainable building materials, the asset will have sustainable operational features, such as a premium HVAC system with 100% outside air intake and energy recovery, on-site photo-voltaic electrical generation, green balconies, a strategic solar envelope, and will harvest rainwater to accommodate plumbing. It is ideally positioned at the intersection of Interstate 10 West and Beltway 8 in the desirable Katy Freeway East submarket.
Hi-res renderings of Framework are available for download here.
About Hicks Ventures
Headquartered in Houston, Texas, Hicks Ventures was founded in 2007 by Patrick Hicks. The company’s real estate professionals have more than 135+ years of cumulative experience in construction, development, property management, marketing, leasing, building improvement, market analysis, project selection and advisory services. The Hicks team has completed over a billion dollars of healthcare projects and over a half-billion of office, land and retail.
While Hicks Ventures offers a full suite of real estate services, from development through leasing and property management, the company also specializes in acquiring attractively priced Class A and B office, medical and hotel properties in markets with strong fundamentals. Hicks Ventures adds value by redeveloping, recapitalizing, and providing superior property management, market and leasing services.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.