MetroNational Buys Major Office Tower at CityCentre

HOUSTON – (Realty News Report) – MetroNational, the Houston-based developer behind Memorial City, has acquired the former Marathon Oil Corporation headquarters at the entry to CityCentre.

The 15-story office tower, at 990 Town and Country Blvd., was built in 2022 as the headquarters for Marathon Oil, which was acquired by ConocoPhillips last year.

The 442,042-SF building represents MetroNational’s largest acquisition in a decade, adding a prime asset less than a mile from its 300-acre Memorial City mixed-use development.

“For over 70 years, MetroNational has remained deeply committed to investing in West Houston, as evidenced by our long-standing dedication to the growth and evolution of Memorial City,” said Jason Johnson, CEO of MetroNational. “Our vision continues to shape the future of West Houston, and the addition of 990 Town and Country represents a unique opportunity to expand our office portfolio just steps away from Memorial City – further reinforcing our commitment to creating exceptional places to work, connect and thrive.”

Marathon Oil relocated to the new amenity-filled building near CityCentre about three years ago, leaving a 41-story tower in the Galleria area. The building Marathon Oil left behind, 5555 San Felipe, was acquired by Energy Transfer pipeline company earlier this year.

The new 990 Town and Country building, on 3.4 acres at the southeast corner of I-10 and Beltway 8, was designed by architecture firm Munoz + Albin and developed by Hines. Munoz + Albin and Hines teamed up on the development of the 46-story Brava apartment tower in Downtown Houston.

The 990 Town and Country building is adjacent to the restaurants, retail, multifamily and office space in the 50-acre CityCentre, which was developed by Houston-based Midway.

The Katy Freeway East submarket – home to Memorial City and CityCentre – continues to outperform in the office market with single-digit vacancy rates, strong tenant demand and consistent leasing velocity. The corridor has emerged as one of the most active office markets in the U.S., fueled by the westward migration of major employers and sustained population growth.

“It’s rare to acquire a newly constructed, top-tier office tower in a high barrier to entry market,” added Scooter Hicks, President of MetroNational. “With near-total vacancy, 990 Town and Country represents a unique value-add opportunity to strategically expand our footprint. We’ve long admired this asset, and its arrival on the market is an incredible complement to our broader Memorial City portfolio – allowing MetroNational to unlock upside through targeted leasing, thoughtful repositioning and long-term integration.”

With more than 10 million SF of developed real estate and a proven track record across office, retail, hospitality and multifamily, MetroNational’s acquisition of 990 Town and Country signals a continued commitment to long-term value creation in Memorial City and Greater Houston.

MetroNational represented itself in the acquisition. JLL’s Brandon Clarke, Kevin McConn, Rick Goings, Sanford Criner, and Jeff Cairns represented ConocoPhillips in the transaction.

Image courtesy: MetroNational

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