Rendering of new exterior of Marathon Oil Tower, 5555 San Felipe.
HOUSTON – (Realty News Report) – The 41-story, 1.2 million square-foot Marathon Oil Tower in the Uptown Houston area is slated for a major renovation, according to Madison Marquette, which handles leasing for the building.
Marathon is leaving the tower for a new 500,000-SF building which will be constructed in the City Centre mixed-use development at the intersection of Interstate 10 and Beltway 8.
The original Marathon Wower was built in 1983 to be the HQ of Marathon Oil, which. occupies about 65 percent of the building. Building owner M-M Properties is prepared to spend over $25 million on upgrades to the tower, located at 5555 San Felipe, between Yorktown and St. James.
Madison Marquette executive vice president John Spafford, who is leasing the building with Madeline Gregory, says the plan includes new interiors, additional parking and food-hall style eateries. The location along San Felipe is also a bonus, Spafford says, because it is removed from the Westheimer/Post Oak congestion.
“One of the strengths of this project is its convenient location on the western periphery of Houston’s most desirable and truly live/work/play submarkets,” added Spafford, who has been leasing space in Houston for a number of years. “The building is perfectly positioned for access to Uptown’s business and amenity base but removed from the traffic of Galleria’s most congested corridors: Post Oak and Westheimer. Its location in the softer, greener and safer area of the submarket is most accessible to Houston’s best residential neighborhoods and talent centers.”
M-M Properties acquired the office tower in 2018 with a vision of rebuilding the tenant experience from the ground up. “The renovation addresses evolving tenant expectations for amenities suited to the social nature of today’s workforce,” said Ken Moczulski, CEO of M-M Properties. Creative employers require environments that strike a balance between workspace and hospitality. To respond to that demand we employ design thinking on every project we own to align the amenities, programming, aesthetic and services we provide.”.
Page Architects was engaged to design three levels of new and enhanced amenities, as well as a transformed arrival experience and courtyard. The amenities underway include a new freestanding, chef-driven restaurant with an engaging outdoor space and a new food hall style café on the ground level. New common areas include a hospitality-inspired two-story lobby offering abundant natural light and multiple touchpoints with collaborative seating, coworking space, Wi-Fi and a state-of-the-art media wall designed by building tenant Cyviz. All tenants will have access to a spa-styled fitness center featuring health and wellness activities for group or self-paced programs.
July 23, 2019 Realty News Report Copyright 2019