Leasing Momentum Continues as Companies Nationwide Seek Business-Friendly Environment in Community Ranked Best Place to Live in America
The Howard Hughes Corporation® has announced that Obagi Cosmeceuticals LLC is relocating its corporate headquarters from California to The Woodlands®, Texas, adding to the now 32 businesses that have relocated, moved and expanded into the award-winning community, contributing 522,028 square feet of new office space and 2,000 new residents since 2020. Obagi Cosmeceuticals, a global specialty pharmaceutical company, has leased 16,470-square-feet at The Woodlands Towers at The Waterway which brings the towers to a combined 82% leased, representing a strong leasing momentum since The Howard Hughes Corporation purchased the Class AAA towers at the end of 2019.
“The Woodlands continues to attract companies who are looking for a business-friendly environment, a vibrant talent pool of educated, skilled employees, and a high quality of life for those team members they hope to attract and retain,” said Jim Carman, President of the Houston Region for The Howard Hughes Corporation. “Complementing our office environment—one distinguished by abundant, high-quality amenities integrated into a walkable urban setting with convenient access to dining, shopping, and entertainment—is a lifestyle that has led to The Woodlands being named the best community to live in America for the last two years in a row.”
With a total square footage of 1,408,737 square feet, The Woodlands Towers at The Waterway is represented by a diverse mixture of tenants including businesses in oil and gas, bitcoin management, commercial real estate, cyber intelligence, insurance, legal, real estate development, renewable energy, skincare, technology, utilities, and wealth management—meeting the demands of today’s office requirements offering flexible space and availability for expansion.
“Obagi Leadership made the critical decision to relocate to The Woodlands based on the evaluation of opportunities for the future success of its business and employee population. There are many driving factors that led us to make this business decision to relocate a portion of our Southern California employees to Texas and bring new job opportunities to The Woodlands market,” said Jaime Castle, President & CEO of Obagi Cosmeceuticals. “Some of the primary drivers are the favorable tax rate for businesses and residents and cost of living implications. Housing is simply unaffordable for many in Southern California, and our folks see the possibility of home ownership in their near future in Texas. We are very excited about the upcoming move and the opportunities it affords our relocating employees.”
Obagi Cosmeceuticals was founded by leading skin care experts in 1988 and built upon their legacy of science and innovation—making The Woodlands an ideal location for their next chapter of growth.
The company will occupy space in the 31-story 9950 Woodloch Forest Tower, which along with the 30-story 1201 Lake Robbins Drive make up the iconic The Woodlands Towers at The Waterway, which are both LEED® Silver and Energy Star® Certified buildings with both receiving the prestigious Builder Owners and Management Association (BOMA) 360 Performance Program designation. Located in the heart of The Woodlands Town Center, amenities in the towers focus on health and wellness and include a two-story fitness center with locker rooms, panoramic views and easy access to The Woodlands Waterway 33,000-square-foot multipurpose rooftop terrace and conference facilities.
Obagi will open its corporate headquarters this fall in The Woodlands.
Obagi Cosmeceuticals, LLC was represented by Parker Kink of Kink Commercial. The Howard Hughes Corporation was represented by Robert S. Parsley, Norman V. Munoz, and Jillian Fredericks with Colliers.