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Chasewood Technology Park

Chasewood Aerial


Chasewood Technology Park is a master-planned office park in northwest Houston, Texas. The 32 acre office park was acquired in 1997 with two existing office buildings (One Chasewood and Two Chasewood) and a parking garage. Two additional office buildings and an additional parking garage were developed due to strong market demand. The Chasewood Technology Park currently consists of four office buildings and two parking garages with a combined net rentable area of 461,109 square feet:

Building Square Feet Stories Year Built
One Chasewood 104,868 6 1983 (renovated 2001)
Two Chasewood 153,2168 8 1985 (renovated 2002)
Three Chasewood 97,802 4 2000
Four Chasewood 105,223 5 2008

The remainder of the office park is planned for two additional office buildings as well a hotel and some restaurant space.


Investment type:

Chasewood Technology Park
Houston, Texas
Northwest Houston (SH 249)
Class A office buildings and business park
461,109 square feet of net rentable area
Four (4) Class A office buildings
32 acre


• The GenCap Group recognized an opportunity to further develop and improve an existing office park

• The two existing Class B office buildings and garage were undermanaged and did not respond to demand in the market

• The large land reserve provided sufficient room to construct additional Class A office buildings as well as hotel and retail development

• Office park is located adjacent to Hewlett-Packard’s (HP) North American Division campus with approximately 9,000 employees

• Both HP’s vendors and suppliers as well as other traditional office tenants create high demand  for Class A office space which was not available in the market

• Houston’s strong population growth keeps expanding into the northwest area

• Office park is located along a major recently expanded freeway in northwest Houston, is close to nearby major retail, upscale residential neighborhoods and has fast and easy access to the international airport


• Reposition office park to create a ‘premier park’  to capture local demand

• Renovate the two existing office buildings to Class A space to attract national and international tenants while generating higher income

• Develop new Class A office buildings as demand and market conditions warrant

• Target credit tenants and diversify tenant base

• Plan the build-out of the remainder of the office park with additional office buildings, hotel, and retail space to add to this upscale business park in northwest Houston

• Coupon-like yields while achieving price appreciation during hold period after renovation or development


• Acquired Chasewood Technology Park and immediately rebranded and repositioned the entire park - resulting in market rents increasing by 50%

• Renovated the two existing office buildings (One Chasewood and Two Chasewood) from Class B space to Class A office space

• Developed two additional office buildings due to high tenant demand: Three Chasewood (opened in 2000) and Four Chasewood (opened in September 2008)

• Achieved highest rental and occupancy rates of any project in the submarket. All stabilized buildings average a 97%+ occupancy

• Attracted a diverse tenant base including  Intel, AMD, LF, Fujitsu, Merryl Lynch, NPC, Iberdrola among others

• Current plans are underway for another Class A office building (Five Chasewood) and a hotel development

• Advanced negotiations are ongoing with a national hotel developer

Chasewood Technology Park is a master-planned office park in northwest Houston, Texas.