Skanska invests USD 108 M, about SEK 712 M, in office building in Houston’s Energy Corridor, USA
Skanska USA Commercial Development is investing USD 108 M, about SEK 712 M, in the development of West Memorial Place II, a Class A office building site in Houston’s Energy Corridor. Skanska USA Building will implement the project at a contract value of USD 62 M, about SEK 408 M, which will be included in order bookings for the third quarter of 2014.
West Memorial Place II will be a 14-story office building with more than 35,000 square meters of rentable space. It is targeted for LEED Platinum certification. The new office building will be adjacent to West Memorial Place I, Skanska’s first development on this site, as previously announced.
Construction has started and is scheduled to be completed end of 2015.
Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.