Year in Review: Exxon Mobil campus changes Houston’s real estate landscape

Paul Takahashi | Houston Business Journal

Exxon Mobil’s new campus was a “game-changer” for the Houston real estate market in 2014.

The Irving, Texas-based energy giant is building a new corporate campus on 385 acres in Spring, north of Houston. It is one of the largest construction projects underway in North America.

When finished by late 2015, the Exxon Mobil Corp. (NYSE: XOM) complex willboast about 20 office buildings and house more than 10,000 employees from Houston and Fairfax, Virginia.

Plans also call for a 100,000-square-foot gym, an on-site daycare center for 300 children, town hall and auditorium, executive office and meeting rooms and an outdoor plaza that can host up to 3,500 attendees.

Even though the Exxon Mobil campus is still under development, it has already proven to be an economic juggernaut for the greater Houston real estate industry.

Energy companies and supporting businesses are moving north of Houston to support the second Energy Corridor developing around the Exxon Mobil campus. After the Energy Corridor along Interstate 10, The Woodlands had the second highest office construction projects in Houston with 4.6 million square feet under development, according to Transwestern. The Woodlands has become a sought-after area for energy companies.

New York-based Skanska USA Commercial Development acquired 14 acres next to the Hardy Toll Road and Interstate 45, across from the Exxon Mobil campus for a new office complex. At Hughes Landing in The Woodlands, The Howard Hughes Corp. (NYSE: HHC)announced plans for new hotels, multifamily and office projects. Exxon Mobil plans to lease 478,000 square feet at Hughes Landing and expects to move in in 2016.

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