XCL Resources signs new lease in M-K-T mixed use development
Oil and Gas company to relocate to The Heights
HOUSTON, February 3, 2020 – JLL today announced that XCL Resources, LLC has signed a lease for 16,328 square feet of office space at M-K-T in The Heights. The company will relocate in the fall of 2020 to the mixed-use development, which is a joint venture of Triten Real Estate Partners, Radom Capital, LLC and Long Wharf Capital.
“XCL is a modern, technology-driven energy company with a best-in-class local management team, and we are honored that they have selected M-K-T as the future home for their growing business,” said Steve Radom, managing principal at Radom Capital. “The XCL team will add daytime vibrancy to our project and enjoy a variety of walkable amenities including onsite dining, health, and fitness options.”
M-K-T is roughly halfway through its transformation from a collection of industrial buildings into a creative mixed-use destination featuring unique office, retail, restaurant, and health and fitness options. The pedestrian-friendly development is bordered by the scenic White Oak Bayou and Heights Hike and Bike Trail and offers easy walkability to the adjacent neighborhood hot-spots like the Heights Mercantile retail center.
“XCL Resources was focused on finding non-traditional office space that balanced productivity and collaboration while encouraging a healthy lifestyle,” said XCL Chief Executive Officer Gray Lisenby. “With access to local trails, restaurants and easy commuting, M-K-T is a natural fit for us, and we’re excited to make the move later this year.”
M-K-T will offer office tenants unique modern structures with 10- to 20-foot exposed ceilings that provide the ability to install internal stairwells leading to mezzanine spaces. Other features include stained concrete floors, exposed beams, private outdoor spaces, and large windows and skylights that deliver an abundance of natural light.
“XCL perfectly embodies the next generation of energy companies in Houston,” said Scott Arnoldy, managing partner of Triten Real Estate Partners. “Gray has built an incredible team around him that embraces not only the culture of M-K-T, but also the standard of innovation for both our project and the city at large.”
M-K-T tenants and guests will enjoy a wide array of lifestyle amenities including approximately 30 restaurant, retail, and health and fitness options. Previously announced tenants include Miller Grossbard Advisors, Mendocino Farms, Burdlife, and Honeychild’s Sweet Creams.
XCL Resources, LLC is a private oil and gas company engaged in the acquisition, exploration and development of assets in North America, with a mission to integrate culture, people, data and assets to maximize returns for all stakeholders.
NAI Partners’ Griff Bandy represented XCL Resources while JLL’s Russell Hodges, Bubba Harkins and Jenny Mueller represented the landlord in the lease negotiation.
For more information, visit TheMKT.com
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.