EXXONMOBIL’S HUMBLE GIFT TO THE CITY?
What will happen to its well-shaded 44-story downtown headquarters building at 800 Bell St., once ExxonMobil decamps for the new campus the oil giant is building at Houston’s northern reaches? The company “has not announced what will happen to its downtown building,” writes longtime real estate reporter Ralph Bivins about the iconic 1963 tower that houses at its top the storied Petroleum Club. “One of the most interesting rumors we’ve heard about it is that Exxon Mobil will donate the building to the City of Houston for municipal offices. You know, we can’t sell it, so let’s just give it to Annise Parker instead.” [Culturemap] Photo: Flickr user lc_db

Four years after its opening, the troubled Downtown mall-office complex known as Houston Pavilions may sell for $50 to $75 million below the cost of its construction. To avoid foreclosure on a loan valued at $130.7 million, the developers turned the property over to a receiver late last year; Transwestern is now marketing the project for sale. Offices are fully occupied, but the big problem is the 59-percent-vacant retail portion of the project, says Real Estate Alert: “More than half of the retail tenants haven’t been paying full rent because the overall retail occupancy rate remains below the prescribed threshold cited in their leases. A buyer could convert about 42,000 sf of vacant retail space into offices to exploit downtown Houston’s booming office market . . . However, 
The Swamplot reader who noted a 




The 4 full-block surface parking lots along the rail line just east of the ExxonMobil building bounded by Leeland, Fannin, Clay, and Travis streets downtown will soon have a small blot on their perfect cars-and-asphalt-only record: 





