HOUSTON – (Realty News Report) – Exxon Mobil announced Monday it is relocating its corporate headquarters from Irving in the Dallas suburbs to its 385-acre City Place campus in the Houston area, in northernmost Harris County.
Exxon Mobil has large complex with 3 million SF of space in 20 buildings in its City Place campus, which is near Interstate 45, just north of the Grand Parkway.
The move, part of an Exxon Mobil management organization move, will bring 400 jobs to Houston from North Texas.
“Houston is the ENERGY CAPITAL OF THE WORLD, for Pete’s Sake!” – Randall Onstead
But more importantly, it gives Houston and City Place, a boost in prestige of being home to the one of the world’s largest corporations.
Years ago, in a move that was highly criticized in Houston, Exxon left New York in 1989 to relocate its headquarters to Irving’s Las Colinas business park.
Some Houstonians were dismayed that Exxon would choose Irving instead of Houston, the epicenter of the planet’s oil and gas business. “Houston is the ENERGY CAPITAL OF THE WORLD, for Pete’s Sake,” Greater Houston Partnership president Randall Onstead told former Houston Chronicle reporter Ralph Bivins on the day Irving, Texas was selected in 1989.
The 2,000-acre City Place, also home to the headquarters of Hewlett Packard Enterprise, was developed by CDC Houston, a subsidiary of Coventry Development of New York.
“We are delighted, of course,” said Warren Wilson, CDC’s executive at City Place. “It’s great for Houston and City Place.” (City Place was formerly called Springwoods Village.)
The move, which will be completed mid-year 2023, will enable closer teamwork to accelerate and increase value delivery through company-wide approaches.
CEO Woods: Positioning Exxon Mobil for the Energy Transition
“We greatly value our long history in Irving and appreciate the strong ties we have developed in the North Texas community,” said Exxon Mobil CEO Darren Woods. “Closer collaboration and the new streamlined business model will enable the company to grow shareholder value and position Exxon Mobil for success through the energy transition.”
Exxon Mobil has been selling excess land near the Irving headquarters and other trimming real estate holdings.
As the Covid pandemic slowed the economy, Exxon Mobil lost $22 billion in 2020 – its first annual loss in 40 years. The oil company laid off thousands of employees.
In one of the major real estate consolidations, the oil firm is vacating its space (about 500,000 SF) in the Hughes Landing buildings in The Woodlands and will consolidate into the main Exxon Mobil campus in City Place.
Today, that move was followed with the move of the Exxon Mobil HQ to City Place – a development that has scored two major corporate headquarters as Hewlett Packard Enterprise and Exxon Mobil in just over a year.
Jan. 31, 2022 Realty News Report Copyright 2022.
Image: City Place and Exxon Mobil’s 3 million SF campus Spring, Texas, north of Houston. Courtesy: CDC Houston and Coventry Development
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File: Exxon Mobil Moving Headquarters to Houston
File: XOM. City Place. CDC Houston. Exxon Mobil Moving Headquarters to Houston. HQ.