Spurred by its focus on oil-rich shale formations in Texas, Talisman Energy USA Inc. is set for a massive expansion of its Houston footprint while shifting its growth plans to The Woodlands in the process.
The move puts further pressure on the Class A office market in The Woodlands as energy companies flock to the area, following oil giant Exxon Mobil Corp.’s plans unveiled last year to construct a 385-acre corporate campus near the established master-planned community.
Interest in office space along the 10-mile stretch of I-45 near The Woodlands has touched off development efforts among area real estate firms, local experts say. “Our firm is looking at developing an office building, a three-story building to supply the significant demand around The Woodlands,” said Trey Halberdier, managing principal at Houston-based investment, development and brokerage firm HALBERDIER Realty Partners, LLC. “We feel that we could have the building preleased before moving any dirt.” Halberdier said there is “clearly a shortage” of space north along I-45, from the Exxon campus to Farm Road 1488.