Houston, TX (Sept. 16, 2021) — Newmark announces the 33,749-square-foot, 1.5-floor new office lease to Spruce Power (Spruce), the largest private owner and operator of distributed generation residential solar assets in North America, at Two Memorial City Plaza in Houston Texas. Spruce Power will occupy the space at the end of 2021.
Newmark Managing Director Joshua Brown, Director John Luck, Vice Chairman Reggie Beavan and Associate Director Audrey Selber represented Spruce Power in the lease transaction. Located at 820 Gessner Road, the 18-story, 927,000-square-foot Class A office building is owned and managed by privately-held real estate investment, development and management company MetroNational.
“Given Spruce’s continuing growth, even in the midst of COVID-19, our team strove to identify a real estate solution for the company that will enhance employee experience and future growth,” said Brown. “The upcoming renovations at Memorial City Plaza, as well as nearby amenities, were attractive to Spruce and they are excited to occupy the new space.”
“When we moved Spruce from California to Houston in 2018, we knew we were moving a fast-growing new power company to the long-time hub of North American power and energy,” said Christian Fong, Chairman and CEO at Spruce. “We took a chance on Houston and its business infrastructure, and it has worked out as we’ve grown into America’s largest privately-held residential solar company. Expanding and upgrading Spruce’s offices is our own investment into a city and workforce that has fueled our company’s growth.”
Two Memorial City Plaza–a recipient of the EPA’s Energy Star Award and IWBJ’s WELL Certification–features amenities including 24-hour on-site security, key-card access, shuttle service, temperature-controlled skywalks interconnecting buildings and parking garages, as well as an on-site FedEx storefront, Skyline Deli, Comerica Bank and travel agency.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently-owned licensees, operates globally from approximately 490