Houston Marathon Oil HQ Sold After $22.5B Merger
Marathon Oil Tower: A Prime Commercial Asset The imposing stature of Marathon Oil Tower, soaring at 562 feet, echoes through Houston’s Uptown/Galleria area. It stands as a tribute to iconic commercial architecture. Originally designed for Marathon Oil’s headquarters, the skyscraper boasts a total floor area of approximately 1.2 million square feet. It includes an extensive 13-level parking garage. In 2022, M-M Properties undertook a $15 million renovation to update the building amenities. This renovation added a redesigned lobby, coffee bar, and media wall. In addition to these updates, the previous headquarters situated at Galleria area’s 5555 San Felipe was sold to Energy Transfer earlier in 2025. Despite its architectural prominence, the tower faces significant occupancy challenges. Post-Marathon Oil’s relocation, the occupancy rate plummeted to a mere 15%. Once bustling with major tenants like Aon Corporation and Baker Hughes, the building currently struggles with vacancy. This hi...