The former Marathon Oil tower at Memorial City was just sold, marking the end of an era for the Houston oil giant. The 15-story, 442,000-square-foot tower at 990 Town and Country Blvd.—completed in 2022 as Marathon Oil's sleek new home—has been acquired by Houston-based developer MetroNational in its largest real estate purchase in a decade, according to a report in the Chronicle. The building now sits largely vacant as a result of widespread layoffs tied to the energy giant's consolidation. Located at the entry to CityCentre and less than a mile from MetroNational's Memorial City development, the building adds a marquee office asset to the developer's growing West Houston portfolio. The deal comes just a year after ConocoPhillips acquired Marathon Oil in a $22.5 billion transaction that reshaped Houston's energy landscape. With Marathon's operations now consolidated, the high-profile property hit the market—offering MetroNational a timely opportunity to capitalize on a shifting corporate real estate scene. Designed by Munoz + Albin and developed by Hines, the tower sits on 3.4 acres at the intersection of Interstate 10 and Beltway 8, adjacent to CityCentre's mix of retail, residential and office space. The sale comes just months after the state of Texas, revealing plans to eliminate more than 500 positions at the Houston site within 12 months of the merger closing. Although some affected employees were offered temporary transition roles, the cuts marked a significant blow to the company's local workforce. The sale of the building closes a chapter for Marathon Oil, which moved into the custom-built headquarters just three years ago after leaving its longtime Galleria-area tower. That former building, at 5555 San Felipe, was acquired earlier this year by Energy Transfer. As it too is undergoing a broader restructuring. The company has launched a cost-cutting initiative—internally dubbed 'Streamline'—and is expected to announce additional layoffs in late 2025, as part of a company-wide effort to streamline operations and consolidate roles.

Former HQ of Houston oil powerhouse sold in landmark deal

The former Marathon Oil headquarters at 990 Town and Country Blvd. in Houston has been sold to local developer MetroNational in a significant real estate transaction, marking the end of an era for the energy giant. The 15-story, 442,000-square-foot building, completed in 2022, was left largely vacant due to widespread layoffs following Marathon Oil's consolidation after being acquired by ConocoPhillips in a $22.5 billion deal. The sale comes just a year after the merger and coincides with Texas state plans to eliminate over 500 positions at the Houston site. The building, designed by Munoz + Albin and developed by Hines, is located at the intersection of I-10 and Beltway 8, adjacent to CityCentre. The property is now part of MetroNational's expanding West Houston portfolio. Meanwhile, Marathon Oil's previous Galleria headquarters at 5555 San Felipe was acquired by Energy Transfer, which is also undergoing restructuring through its internal 'Streamline' initiative and expected to announce further layoffs in late 2025.