Shell Oil Co. jumps ship with other Houston oil companies, dumps 350K-SF office spaceShell Oil Co. jumps ship with other Houston oil companies, dumps 350K-SF office spacehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=125292016-03-21T05:00:00Z2016-03-21T22:00:00Z

​​HOUSTON - In the latest move by an energy company hit hard by the plunge in oil prices, Shell Oil Co. has placed 350,000 sf of space at its headquarters at One Shell Plaza on the market for sublease.

The company, which occupies roughly 780,000 sf at the 50-story, 1.2 million-sf high-rise at 910 Louisiana St., is willing to relinquish whichever floors interest a prospective tenant and consolidate within its remaining space in the building.

Shell's announcement comes as available sublet space in Houston continues to skyrocket.

According to CoStar information, a market that for years had incredibly tight vacancies and few large spaces now sports approximately 9 million sf of available sublet space, including more than 6.8 million sf of sublet blocks of 20,000 sf or more. 

Shell follows in the footsteps of such companies as Phillips 66 Co., which is subletting 242,000 sf at Three Westlake Park at 550 Westlake Park Dr.; Noble Energy, which has agreed to sublet approximately 200,000 sf at Northborough Tower at 100 Glenborough Dr.; and Exxon Mobile, which has made the 198,257-sf 8 Greenspoint building at 222 Benmar Dr. available for sublease since this past June.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/News/Article/Office-Lease-Up-March-21-Shell-Latest-Company-Looking-to-Sublet-Space-in-Houston/180768?ref=/News/Article/Office-Lease-Up-March-21-Shell-Latest-Company-Looking-to-Sublet-Space-in-Houston/180768Read more at {Source}

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