Don’t for one second think that this is the last of these deals that will come up.
From the Houston Business Journal
Exxon Mobil Corp.’s (NYSE: XOM) massive footprint north of Houston is going to be even larger — and a portion of it will be tax free.
The Irving, Texas-based company plans to occupy about 480,000 square feet in Hughes Landing in the Woodlands, according to media reports.
Exxon will occupy a 317,052-square-foot building, which will be 12 stories with an 11-story parking garage, and half of a 331,840-square-foot, 12-story building,The Courier of Montgomery County reports.
The buildings are expected to be complete in November 2015, Community Impact Newspaper reports.
Montgomery County Commissioners on Dec. 9 approved two 10-year, 100 percent property tax abatements for the buildings, according to the reports.
Exxon will create a combined 1,430 jobs with a combined annual salary of about $179 million. The Woodlands Township will consider similar abatements this week, according to the reports.
Exxon currently is building a 385-acre campus south of the Woodlands in Springwoods Village. The campus will consist of about 20 office and specialty buildings, and at least 10,000 employees are expected to be working at the site by 2015.
However, Exxon’s Mike Alexander told the Courier the company doesn’t like to “put all of (its) eggs in one basket” and that the Hughes Landing offices will “offer some alternative.”
Hughes Landing is a 66-acre mixed-use development situated on Lake Woodlands. It recently opened its first building and got its first retail tenants. Whole Foods Market Inc. (Nasdaq: WFM) will open its first Woodlands location in Hughes Landing in 2015.
The Woodlands Development Co., a wholly owned subsidiary of Dallas-based Howard Hughes Corp. (NYSE: HHC), is also working on an exclusive neighborhood situated on Mitchell Island in the middle of the lake.