Costello Engineering is pleased to announce that, in April 2018, we will relocate to a 35,000 square foot space at CityWestPlace, in the Westchase District.
Our new headquarters is a sublease of two floors of formerly unoccupied space in the 190,000 square foot corporate campus of the U.S. division of Statoil, a Norwegian oil and gas company.
Dustin O’Neal, president of Costello Engineering, said the move wouldn’t have been possible without subleasing. “It sounded too good to be true,” he said in an interview with the Houston Business Journal. “The timing of this deal was in our client’s favor with the burgeoning sublease market,” said Kevin Saxe first vice president of CBRE. Saxe represented Costello in the deal, which resulted in a significantly upgraded space at a comparable price to the Class B space at 9990 Richmond we’ve occupied since 1997. “It was kind of a no-brainer,” said Saxe.
Because Statoil never occupied the space, Costello is making an investment in the build out of the space. The new space will include a 5,000 square foot game room for employees, among other upgrades. The space will become direct lease space again in 15 years.
We’re proud to be recognized as one of the Houston Business Journal’s 2017 Best Places to Work. “When we learned that a CityWestPlace office was possible, at nearly the same cost as our current lease, it was a simple decision,” said O’Neal. “How could we pass up that opportunity for our people?”
The move also presents an opportunity to look toward the future of the company. With an additional 154,000 square feet of available space in CityWestPlace, there’s no shortage of room for growth of our 150-strong team