Houston, January 21, 2026
The University of Texas at Austin’s McCombs School of Business has secured a 15,115 square foot lease at 990 Town and Country Boulevard to enhance its Weekend MBA program. The new location in Houston’s CityCentre district aims to provide better accessibility and amenities for students, fostering connections with the local business community. It features modern facilities previously occupied by Marathon Oil Corporation, reflective of the area’s growth and transformation.
University of Texas Expands Presence in Houston with New Lease
New Lease Secured for McCombs School of Business MBA Program
The University of Texas at Austin’s McCombs School of Business is making a significant move to enhance its Weekend MBA program. The school has secured a lease for approximately 15,115 square feet at 990 Town and Country Boulevard in Houston’s CityCentre district. This location will serve as the new home for the program, previously housed in the Texas Medical Center area. The strategic decision aims to offer students improved accessibility and a variety of nearby amenities and lodging options, supporting the vibrant Houston business community.
Located at the crucial intersection of Interstate 10 and the Sam Houston Tollway, the newly-leased space occupies a 15-story, state-of-the-art office tower that was completed in 2022. This facility offers a wealth of resources including a conference center, breakout rooms, and both indoor and outdoor collaboration spaces. Previously, it functioned as the corporate headquarters for Marathon Oil Corporation until its acquisition by ConocoPhillips in 2024, illustrating the area’s ongoing transformation and growth in commercial use.
Key Lease Details
The lease agreement involves an initial term of 11 years, commencing upon the completion of tenant improvements set for summer 2026. The base rent is stipulated at $48.50 per square foot, with annual increases of 3%. Additionally, operating expenses are projected at $21.50 per square foot, also increasing at a rate of 3% per year. The lessor is committing to $75.00 per square foot for tenant improvements, amounting to approximately $1.13 million dedicated to creating an optimal learning environment for students.
Benefits of the Relocation
This relocation underscores the McCombs School of Business’s commitment to serving the Houston business community and aligns with the significant number of alumni residing in the Houston metro area. As the demand for high-quality business education continues to grow, this new facility will provide students with an environment conducive to learning and networking, further enhancing Austin’s reputation as a hub for entrepreneurial innovation.
Community and Economic Growth
The move represents a concerted effort by Texas entrepreneurs and businesses to contribute to local economic growth. As educational institutions like the McCombs School expand their facilities and enhance their programs, they play a crucial role in fostering a skilled workforce that supports both local and statewide economies. This initiative exemplifies the spirit of entrepreneurial resilience and determination that characterizes Austin and its surroundings.
Final Thoughts
The McCombs School of Business’s new lease at 990 Town and Country Boulevard is more than just a relocation; it’s an investment in the future of business education and economic development in Houston. As small businesses and educational institutions collaborate, the benefits ripple throughout the community, nurturing a robust economy. Readers are encouraged to engage with local businesses and support initiatives that drive growth and innovation within our communities.
Frequently Asked Questions (FAQ)
What is the purpose of the lease at 990 Town and Country Boulevard?
The lease is for approximately 15,115 square feet to house the University of Texas at Austin’s McCombs School of Business Weekend MBA program, relocating from its previous facility in the Texas Medical Center area to provide enhanced accessibility and proximity to various amenities.
What are the key features of 990 Town and Country Boulevard?
990 Town and Country Boulevard is a 15-story, 442,000-square-foot office tower completed in 2022. It includes a conference center, breakout rooms, and both indoor and outdoor collaboration spaces. Previously, it served as the corporate headquarters for Marathon Oil Corporation until its acquisition by ConocoPhillips in 2024.
What are the terms of the lease agreement?
The lease agreement has an initial term of 11 years, starting upon completion of tenant improvements in the summer of 2026. The base rent is $48.50 per square foot, with annual increases of 3%. Operating expenses are estimated at $21.50 per square foot, also increasing by 3% annually. The lessor is contributing $75.00 per square foot for tenant improvements, totaling approximately $1.13 million.
How does this relocation benefit the McCombs School of Business?
This relocation enhances the McCombs School of Business’s commitment to serving Houston’s business community by providing a more accessible location for students and aligning with the substantial number of alumni residing in the Houston metro area.
Key Features of the Lease Agreement
| Feature | Details |
|---|---|
| Lease Area | Approximately 15,115 square feet |
| Building Location | 990 Town and Country Boulevard, Houston, Texas |
| Building Size | 15-story, 442,000-square-foot office tower |
| Previous Occupant | Marathon Oil Corporation |
| Lease Term | 11 years, starting upon completion of tenant improvements in summer 2026 |
| Base Rent | $48.50 per square foot, with annual increases of 3% |
| Operating Expenses | Estimated at $21.50 per square foot, increasing by 3% annually |
| Lessor’s Contribution to Tenant Improvements | $75.00 per square foot, totaling approximately $1.13 million |
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