McDermott HQ Sale

McDermott to sell former CB&I HQ in The Woodlands to Howard Hughes

Houston-based McDermott International Inc. (NYSE: MDR) has vacated the former headquarters of Chicago Bridge and Iron Co. in The Woodlands and sold the two buildings to the Howard Hughes Corp. (NYSE: HHC), which is based in Dallas.

McDermott acquired CB&I in a $6 billion merger in May, leaving it with ownership of the latter company’s two headquarters buildings in The Woodlands. At that time, McDermott CEO David Dickson said the energy engineering and construction company hadn’t yet decided what to do with The Woodlands buildings. McDermott does not own its other Houston office space.

A spokesperson confirmed Sept. 5 that McDermott agreed to sell the buildings — both located at 2103 Research Forest Drive — to Howard Hughes Corp. The deal has not yet closed, the McDermott spokesperson said.

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McDermott HQ Sale

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