By Jennifer LeClaire
An investment in the
millions has made
Pennzoil Place the most
office building in the
Houston market—and it’s
already paying dividends
Reflections of change. Pennzoil Place in Houston has
received millions of dollars in upgrades that wisely focus
on the asset’s technological backbone.
When Shell announced plans to reduce its Downtown Houston office footprint, one owner, Metropolis
Investment Holding Inc., saw the writing on the wall.
Shell occupies 419,933 square feet of Metropolis’ 1.4-mil-
lion-square-foot Pennzoil Place—and its lease is up at the end
of 2013. Although local industry watchers say it’s unlikely
Shell will complete its consolidation plans by then, Pennzoil
Place’s property managers expect the oil company to shed
200,000 to 300,000 square feet in the next 12 months.