ExxonMobil is Houston bound (Dallas, Fort Worth: employment, to move, land)

[binkyman]

Originally Posted by Metro Matt

While it was a temporary blow to Downtown Houston there are plenty of other important tenants & Fortune 500 companies out there...so many in fact that downtown space is at a premium & new towers have gone up with more on the way. You just don't see that in Downtown Dallas because all of your big name companies are in Uptown or way out in the suburbs (more so than in Houston).

As I pointed out earlier, Exxon-Mobil's sprawling new campus will be less than 20 minutes from an international airport. The location just makes sense & I'm sure it was thought over by the big wigs hundreds of times before their final decisions was made. You're talking about a company worth BILLIONS of dollars here. They typically don't make bad decisions.

Indeed, one hasn't seen growth but actual shrinkage in the office market of downtown Dallas going on some thirty years. The tallest office building ever built in downtown Dallas was developed by a Canadian company which is probably why it now finds itself located in the wrong part of town. Figure downtown Dallas was already pushing north way back even in the early 80's. Now the taller buildings of downtown are becoming obsolete as they are no longer functional with present day technology. I think the same situation is going to become true of the soon to be thirty year old skyscrapers in downtown Houston built about the same time as the ones in downtown Dallas.

Downtown Houston is going to have to start thinking about converting some of those tall buildings into other functions in the near future. At the same time, the office market should erupt somewhere outside the traditional loop just as what is now happening north of downtown Dallas.

So, I think it is all good regardless. Still, this ExxonMobil move could set a precedent for companies in Houston and future relocations to the city persuading them to move and establish their base of operations further out from the city core.

In regards to billion dollar companies making the right decisions, think of BP. God save the Queen that company made the most arrogant of stupid decisions.

[Metro Matt]

Originally Posted by binkyman

Indeed, one hasn't seen growth but actual shrinkage in the office market of downtown Dallas going on some thirty years. The tallest office building ever built in downtown Dallas was developed by a Canadian company which is probably why it now finds itself located in the wrong part of town. Figure downtown Dallas was already pushing north way back even in the early 80's. Now the taller buildings of downtown are becoming obsolete as they are no longer functional with present day technology. I think the same situation is going to become true of the soon to be thirty year old skyscrapers in downtown Houston built about the same time as the ones in downtown Dallas.

Downtown Houston is going to have to start thinking about converting some of those tall buildings into other functions in the near future. At the same time, the office market should erupt somewhere outside the traditional loop just as what is now happening north of downtown Dallas.

So, I think it is all good regardless. Still, this ExxonMobil move could set a precedent for companies in Houston and future relocations to the city persuading them to move and establish their base of operations further out from the city core.

In regards to billion dollar companies making the right decisions, think of BP. God save the Queen that company made the most arrogant of stupid decisions.

This is why the older towers are remodeling to keep up with the newer ones being built. Dallas' Bank of America Plaza is currently undergoing its largest remodel since it was built over 30 years ago.

There are skyscrapers in Downtown Houston right now undergoing full facade re-clads, two of them that I can think of right off the top of my head.

[Trae713]

Originally Posted by Scout_972

^ Other energy companies are following Exxon and Anadarko.

Anadarko built a new HQ complex in The Woodlands a few years ago. Now, Southwestern Energy is moving and consolidating up there.

The Woodlands is quickly becoming Houston's version of what Plano is to Dallas.

Except both the Southwestern HQ and Exxon will be in houston city limits, so not even close to being the same thing. Also, emergy companies and others continue to expand Downtown (check the vacancy rates compared to Dallas and what it bleeds). Plus, there is more going on in the energy corridor (hottest market in the south), than anywhere else.

[Cowboys fan in Houston]

If Exxon moves, they move. I still dont see why this thread gained 15 pages of BS based on something no one can substantiate.

It may even make sense for them to move. Houston is becoming more oil/energy centric so perhaps it makes sense for the energy companies to all be there.

But as of now, this thread should be closed. There is nothing factual to it at all.

[dallasboi]

Originally Posted by justme02

If Exxon moves, they move. I still dont see why this thread gained 15 pages of BS based on something no one can substantiate.

It may even make sense for them to move. Houston is becoming more oil/energy centric so perhaps it makes sense for the energy companies to all be there.

But as of now, this thread should be closed. There is nothing factual to it at all.

Now that thats cleared up.......Everyone go back to your cabins and settle down....It was just a Fluke.

[Cowboys fan in Houston]

Originally Posted by dallasboi

Now that thats cleared up.......Everyone go back to your cabins and settle down....It was just a Fluke.

Im not saying they wont go, Im just saying there is nothing to this right now. Just a bunch of talk.

[Trae713]

Originally Posted by justme02

If Exxon moves, they move. I still dont see why this thread gained 15 pages of BS based on something no one can substantiate.

It may even make sense for them to move. Houston is becoming more oil/energy centric so perhaps it makes sense for the energy companies to all be there.

But as of now, this thread should be closed. There is nothing factual to it at all.

This thread is as large as it is over one random post cause yall worried.

[dallasboi]

Originally Posted by Trae713

This thread is as large as it is over one random post cause yall worried.

No its more like yall are hoping.

[HockDad]

I generally see corporate headquarters moving for several different reasons:

1) cost of living (no difference)
2) state income taxes (no difference)
3) quality of life, ie, Houston v. Detroit, etc (no difference)
4) business opportunity (Haliburton moving to Middle East)

Moving to new corporate campus is not one that a reason to I usually see for justification for moving your headquarters. Maybe metro Matt can give us an example where a substantial company, with major operations in two different cities, moved its headquarters to be closer to its corporate campus in an another metro area in the same state.

Interestingly, Fluor offices next door to Exxon in Irving. It is Fortune 125. When it relocated from California, it had thousands of workers in Sugarland at a huge campus and a small number of works in DFW. Nonetheless, its execs picked DFW.

[RonnieinDallas]

Originally Posted by justme02

But as of now, this thread should be closed. There is nothing factual to it at all.

^
This.

Close it, or move it to the Houston VS Dallas thread. No factual/useful information at all.