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Global Water Drilling Firm Relocates To One Hughes Landing In The Woodlands

Layne Christensen, Moving To Texas From Kansas City Area, Becomes Major Tenant In Mixed-Use Development
December 11, 2012
Layne Christensen Co. has signed a 51,152-square-foot lease for the top two floors of One Hughes Landing, the first office building to be constructed at the 66-acre Hughes Landing mixed-use development on Lake Woodlands.

Layne announced last week that its board of directors approved the relocation of the company's corporate headquarters and about 210 employees from Mission Woods, KS, south of Kansas City, to The Woodlands, TX, starting next spring. Most of the senior executives from Layne's six divisions will ultimately relocate to the Houston area.

The recruitment of Layne, a global water drilling, mineral and energy exploration company, is an example of the energy and mineral sector boom that has propelled job and real estate growth in Houston, one of the fastest-growing metros in the nation over the last several years.

With construction just beginning, the One Hughes Landing building is already nearly 30% pre-leased, according to The Woodlands Development Co., a wholly-owned subsidiary of The Howard Hughes Corp. (NYSE: HHC), which is participating in the development of The Woodlands, a 28,000-acre master-planned community 27 miles north of downtown Houston.

Designed by Gensler of Houston targeting LEED Silver certification, construction is now under way on the 197,000-square-foot, eight-story building expected to be completed by September 2013. It will be the first of up to eight office buildings at Hughes Landing on the 200-acre Lake Woodlands, a development within The Woodlands that also includes a boutique hotel, retail and entertainment venues and multifamily housing.

The Howard Hughes Corp. has also secured $38 million in non-recourse financing from Texas Capital Bank and Woodforest National Bank for construction of the building.

The Woodlands Development Co. is being represented by Robert S. Parsley and Norman V. Munoz of Colliers International for the leasing of One Hughes Landing. Layne Christensen was represented by Sven Sykes, Brian W. Johnson and Jay Kyle of Colliers International offices in Chicago, Kansas City and Houston, respectively.
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