The Chronicle reports that Exxon is considering a move out of downtown Houston.
"Exxon Mobil Corp. is conducting a study of its U.S. real estate that could result in the company consolidating workers on a large tract of land just south of The Woodlands. Architectural documents obtained by the Houston Chronicle outline an elaborate corporate campus, including 20 office buildings with 3 million square feet, a wellness center, laboratory and multiple parking garages. The documents don't identify Exxon Mobil, but maps show a large parcel of land near Interstate 45 and the Hardy Toll Road. The company owns land near that intersection."
The rumor has been around for a while. Nearly six weeks ago, CultureMap real estate columnist Ralph Bivins wrote about the giant oil company's search for a new space.
"Exxon Mobil has not disclosed anything of substance. But knowledgeable people in Houston are certain that the oil company has been carefully evaluating huge tracts of land north of Houston for a possible corporate campus near Interstate 45. This will be a Texas-sized facility, at least 300 acres, maybe a lot more," Bivins wrote.
"The narrative circulating in the real estate community is plausible and it goes like this: Exxon Mobil is looking for property along the border between Harris and Montgomery counties, south of The Woodlands. It is considering land which is partially in the flood-plain, so that the undevelopable flood-prone land will lie adjacent to the new Exxon Mobil office buildings. A consultant has been hired to evaluate the land, which is probably west of Interstate 45."
Bivins also reports that Shell is considering a move out of the landmark One Shell Plaza in downtown Houston as it downsizes.