Griffin Partners and Shorenstein Properties announced this week that they had entered into a joint venture for the possible redevelopment of the former ExxonMobil headquarters at 800 Bell in Houston, Texas, following the recent discussions regarding a new City of Houston justice complex. The JV aims to redevelop the 45-story high-rise in downtown Houston, which will have 1.2 million square feet of space on offer once ExxonMobil makes its move to The Woodlands in April.
"My hope is that this property will be able to meet the needs being explored at City Hall," Fred Griffin, Griffin Partners' chairman, told GlobeSt.com. "I am fully aware that there are many issues that need to be addressed by Griffin Partners, Shorenstein and the city of Houston to determine if 800 Bell meets the needs for a new City of Houston Justice Complex. We are now approaching the city to discuss details."
800 Bell is a 1.2 millions square foot office tower which includes a 45-story office building and a 7-story parking garage covering 2 city blocks in Houston's Central Business District, built in 1962 as the headquarters of Humble Oil & Refining Company, a predecessor to ExxonMobil. The property has convenient access to Interstate 10, Highway 59, Highway 288 and Interstate 45. In addition, Metro's citywide bus service and rail is also accessible immediately in front of the property. 800 Bell is within walking distance of the new connection to the underground pedestrian tunnel system. The building was purchased by Shorenstein in January 2013 for and is currently being leased back to ExxonMobil until that firm's planned move to its new campus later this year. Griffin says that ExxonMobil is leaving the space in good, usable condition, and that the transition could take from 15-18 months to complete.
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