CBRE Arranges Headquarters Relocation and Expansion for Surge Energy in Houston

Houston – August 23, 2022 – CBRE has arranged a 64,018 sq. ft. headquarters relocation and expansion for Surge Energy US Holdings Company (“Surge Energy”), at Westway Plaza in Houston. The independent oil and gas company is relocating from Heron Lakes Office Park and has added 25,000 sq. ft. to its corporate office footprint. Surge Energy plans to occupy its new space in February 2023.

Kevin Saxe with CBRE in Houston represented Surge Energy in the transaction. The company’s new landlord is TAF Westway Plaza, LLC.

“Surge Energy is looking forward to moving into upgraded office space early next year,” said Linhua Guan, CEO of Surge Energy. “Surge’s people are its greatest asset, and we are happy to be providing an improved office environment for the team to enjoy.”

Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. Established in 2015, Surge Energy currently holds approximately 114,000 net acres in the Permian Basin. Between Houston and its two field offices located in Ackerly and Lorenzo, Texas, Surge Energy’s team has grown to nearly 200 people, with over 100 working in Houston. The company has drilled over 500 wells and produced over a 100 million gross barrels of oil equivalent since inception.

“As Surge Energy has grown, its executive team has been looking for ways to provide a better and more collaborative workplace for its employees. This relocation to Westway Plaza will do just that,” said Mr. Saxe, Senior Vice President at CBRE. “As a true Class A building with first-class ownership and operations, Westway Plaza provides a mix of amenities, an exceptional location, and a wonderful environment for Surge to continue to prosper.” 

Westway Plaza, is located at 11330 Clay Road, two miles northwest of Houston’s prominent Energy Corridor submarket. The Class A office building includes a mix of Fortune 500 companies, a fitness center, deli, and proximity to nearby hotels, shopping centers, parks and neighborhoods.

Office tenants in the Houston market have shown a returned commitment to the office in Q2 2022, resulting in a 21.5 percent increase in leasing activity quarter-over-quarter according to the CBRE Research. New leases and expansions accounted for 67 percent of transaction volume in the second quarter, with tenants in the energy industry making up nearly half of the quarter’s leasing volume.