Abandonded ExxonMobil Brookhollow Campus Changes Hands
ExxonMobil's Brookhollow campus near the intersection of Highway 290 and Loop 610 has been sold. Williamsburg Enterprises' Khaled Salem and Fidelis' Alan Hassenflu paid $11M for the property, according to Realty News Report. Fidelis has built major retail projects and is now redeveloping Baytown's San Jacinto Mall.
Exxon moved out of the 24-acre campus when it delivered its 3M SF campus near The Woodlands. JLL handled the sale. When the property was listed in 2014, some predicted it would fetch as much as $40M, but that was when oil was over $100. Exxon did much better with the sale of its 35-acre campus in the Energy Corridor, which sold for $75M before the oil collapse.
The Brookhollow campus isn't in a particularly nice part of town, although it's not far from The Heights. One major factor to consider is that this 25-acre property is close to the proposed bullet-train station Texas Central is spearheading. [RNR]