Energy Company Shows Strength Amid Crisis, Adds Floor To Its Lease
Cutting against the grain of the oil slump, Genesis Energy is expanding its offices at 919 Milam. Currently occupying the 14th, 20th, 21st and parts of the 18th floor, Genesis will add an additional 19k SF to its footprint, taking over the entire 22nd floor. The $900k build-out by Byrd Interior Construction has already begun and is expected to be completed in April, the Houston Business Journal reports. The floor had been empty, so the construction firm (working off design by Houston’s own Inventure Design) basically took everything out and built it out new, says John Byrd. With many other energy companies watching their stock plummet, Genesis has remained aggressive, recently buying Gulf of Mexico assets from Enterprise Product Partners for $1.5B, in 2015. Showing confidence from investors, Genesis saw a 7.4% increase in its share price on Feb. 16. [HBJ]
