A former Exxon Mobil Corp. campus in northwest Houston is set to become a major retail development.
Alan Hassenflu of Fidelis Realty Partners, who helped purchase the property, said last week the recently exited energy giant's Brookhollow campus would be a"dominant" community and retail center in the area, according to Realty News Report. Construction could begin as early as next year, Hassenflu said.
When the property was sold earlier this year, it was expected to be converted into a retail development. A partnership affiliated with Fidelis and Houston real estate investor Khaled Salem of Williamsburg Enterprises bought the energy giant’s Brookhollow campus earlier this year. Although the property once was expected to fetch as much as $40 million, RNR reported in May, it sold for around $11 million.
Irving, Texas-based Exxon (NYSE: XOM) put the property on the market in mid-2014, as it prepared to consolidate thousands of employees across the Houston area into its new Springwoods Village campus. JLL had the listing.
The 24-acre property is at 4400-4550 Dacoma St. along Highway 290, northwest of the 290 and Loop 610 intersection. The facility includes three office buildings totaling 500,000 square feet, a full-service cafeteria and 60,000 square feet of storage and auxiliary buildings.