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Project Petroleum Engineering

With limited resources, knowledge and experience navigating the Austin marketplace for lab space and R&D capabilities, Frank assisted a University of Texas start-up in identifying an international headquarters location for its lab and office facilities.

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The Opportunity

Founded by two professors from the Department of Petroleum and Geosystems, Cockrell School of Engineering at the University of Texas, Project Petroleum Engineering launched into a global chemical company serving five continents with enhanced oil recovery techniques.  With an excessive growth rate and limited capacity for engineers and employees to operate on UT's campus, Project Petroleum Engineering required an updated and larger lab space to accommodate growth in demand for services and R&D capabilities.

The Solution

In collaboration with the Office of Commercialization at the University of Texas, Frank engaged stakeholders throughout the project ensuring alignment with expectations and needs toward the identification of labspace suitable for a global headquarters location.

  • Conducted a comprehensive search of available lab space in the Austin Region

  • Evaluated (Budget/Schedule) potential spaces based on specific and technical requirements

  • Negotiated favorable lease terms with the landlord on behalf of Project Petroleum Engineering

  • Coordinated with various stakeholders to ensure a seamless transition to the new location

The Impact

  • A University of Texas startup global headquarters in Austin, TX

  • A smooth transition to the new location, ensuring minimal disruption to operations and overall business goals

  • An attractive location for graduate Petroleum Engineering students and engineering teams

Key Takeaways

  • Engaging stakeholders

    • Getting stakeholders involved from day one in the process of location eliminations to identify budget and schedule.

  • Market Reconnaissance

    • Performing due diligence on ownership (landlord), market information and office trends impacting rental rates, availability of space and code compliance issues.

Let's work together

SquareDirection is eager to partner with commercial tenants and real estate decision-makers seeking to optimize their real estate expenses and capital investments through tailored strategies and local expertise.

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