Schlumberger Technology Corporation | Western Hemisphere Financial Hub

Property Description

This 149,683 square foot, six-story office facility, located within the Energy Corridor submarket of Houston, Texas is 97% leased to Schlumberger Technology Corporation ("STC" or the "Tenant") a subsidiary of Schlumberger Limited ("Schlumberger"). Schlumberger was founded in 1926 and is the world's largest oilfield services company with operations in over 85 countries. As of year-end 2012, the company had a market capitalization of over $95 billion and reported 2012 revenues of $42.1 billion. This Class 'A' property was constructed in 1999 and serves as Schlumberger's Western Hemisphere Financial Hub.

Business Essential Attributes

Employees at the property provide back-office financial and accounting support for Schlumberger's operations in the Americas. Schlumberger has two such facilities worldwide - the "sister" facility serving the Eastern Hemisphere is located in Southeast Asia. The property was a consolidation site for the company that combined operations from various locations throughout the Western Hemisphere including offices as far away as Canada and South America. The company has further exhibited its commitment to the property by virtue of $8.5 million of capital investments including, the addition of a new fitness center, top-floor employee common area and expansion of the existing parking garage. When fully staffed, the property will house nearly 800 Schlumberger employees.

Additional Property Information

Located in the most prestigious section of the Energy Corridor Submarket, within the Enclave Parkway master-planned community, the site affords the company a high-profile location within close proximity to numerous amenities and many of the company's energy sector clients. The list of corporations that call the Energy Corridor home include a who's who list of the world's top energy sector companies including, Exxon Mobil, BP America, Conoco Phillips, Shell and Halliburton.

Schlumberger Technology Corporation | Western Hemisphere Financial Hub

Houston, Texas

PROPERTY AT A GLANCE

Property Type: Office
Square Footage: 149,683

Lease Expiration: January 31, 2024
Renewal Option(s): No termination rights
Rent Increase(s): 2.21% average annual increases over the remaining term from acquisition
Tenant: Schlumberger Technology Corporation (97% of Net Rentable Area)