Spring Texas Real Estate: Market Report January 2011
February 9, 2011
Are you landlord material?
February 16, 2011
There is still no “official” announcement from Exxon Mobil that they are going to be moving their North American headquarters to Spring (also known as south of the Woodlands). But that hasn’t stopped everyone else from talking and speculating about Exxon Mobil’s new campus in Spring. Just ask around and you will run across someone who says she or he heard from a high ranking Exxon Mobil employee that Exxon Mobil is moving to Spring.
According to Billy Burge, the Grand Parkway President, the official announcement from Exxon Mobil confirming their campus location at 45 and the Hardy Toll Road will be delivered in April. This is what Mr. Burge told the Texas Transportation Commission at their meeting on January 27th, 2011.
At the same meeting, Commissioner Ned Holmes said
“Exxon representatives have stated very clearly to me that TxDOT moving forward on the Grand Parkway is essential and that if that did not happen they would not select this site.”
Some sources say the new headquarters will consolidate 15,000 employees from Houston and Virginia while other sources have the number of employees at 17,000. Whichever the number truly is it means a lot of employees may soon be looking for homes in Spring Texas and the Woodlands. The speculation of Exxon Mobil’s move and the positive impact it would have on housing prices has caused some would be sellers to postpone their plans. Instead they are opting to be landlords for the immediate future.
To find out if Exxon Mobil will be moving to Spring, we will all need to stay tuned and await the “official” announcement.
