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Skanska invests $151 million in new office project in Houston

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Staff Writer | April 19, 2017
Skanska is investing $360M, about SEK 3.2 billion, in an office project in Houston, Tx.
Expansion   Skanska will begin construction in April 2017
The construction contract is worth $151m, about SEK 1.3 billion, which will be included in the U.S. order bookings for the first quarter of 2017.

Skanska will develop and build a new 35-story office tower in a prime downtown Houston location with about 72,500 square meters of office space and 2,400 square meters of rentable retail space. The project includes an 11-level parking garage. The anchor tenant is Bank of America, who will occupy about 20,000 square meters after completion.

The office is the first project in Houston development to reach LEED v4 Platinum precertification from the U.S. Green Building Council (USGBC). The building will use 25 percent less energy than typical facilities.

Skanska will begin construction in April 2017 and expects to complete construction in the second quarter of 2019.

Skanska USA Commercial Development has invested about $1.5 billion, about SEK 13 billion, in projects since 2009 and has developed corporate headquarters for Brooks Sports, PwC and Tommy Bahama.