Thursday , 5 December 2019
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Skanska Buys Acreage for 1 million SF Office Development Next to Exxon Mobil’s new Campus North of Houston

Skanksa site on Interstate 45, about 20 miles north of downtown Houston.

Skanksa site on Interstate 45, about 20 miles north of downtown Houston.

HOUSTON – Skanska USA Commercial Development announced it has acquired 14 acres of land for a 1 million square foot office development across from the new Exxon Mobil campus.

The Skanska site, which is south of The Woodlands, is part of a development trend that has led some to tout the Exxon Mobil area as the “New Energy Corridor.”

The Skanska site is located on Springwoods Village Parkway near the new ExxonMobil corporate campus and with access to Interstate 45, Hardy Toll Road and the future Grand Parkway.

The site is situated for companies looking to participate in the migration of energy-related businesses to the area, Skanska said. The developer says the site can accommodate a single tenant seeking a build-to-suit corporate campus or a three-building office complex with multiple tenants.

“With the growing demand for high quality office space in North Houston, we look forward to delivering a Class A, highly sustainable office complex in this dynamic area,” said Michael Mair, executive vice president and regional manager of Skanska USA Commercial Development.  “Whether we develop the parcel for a single tenant or as a complex shared by multiple tenants will depend on marketplace demand.”

Houston developer Dean Patrinely is also developing major commercial projects near the Exxon Mobil site, which will have more than 3 million square feet of space and 10,000 employees. Some of Exxon Mobil’s people are already working on-site and the final migration should be completed in about a year.

Exxon Mobil is relocating the remnant of Mobil (about 2,000 people) from Fairfax, Va. in addition to consolidating its Houston facilities into the new 385-acre campus.

Skanksa, part of a Swedish-based firm, had additional projects in Houston, including: Skanska USA Commercial Development in Houston include West Memorial Place, a two-phase 700,000 square-foot office campus in Houston’s Energy Corridor; a completed Class A, 302,000 square-foot office building at 3009 Post Oak Blvd; and Capitol Tower, a 750,000-square-foot, Class A commercial office tower planned for 800 Capitol Street in downtown Houston.

Skanska, which has considerable financial resources, often finances its developments internally without bank loans.

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