BREAKING NEWS

RNR Real Estate Briefs – Texas & more

Mixed-Use Project Kicks Off Near Texas Medical Center

Home staging insights from NAR survey

Triten Starts Big Industrial Project in North Houston

A Rarity: New Office Building to be Built in Houston

Howard Hughes Buys Office Building in The Woodlands

REALTY NEWS REPORT - Logo

Downtown Houston
RNR-RalphBivinsProject-Interviews
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Chevron Buys City Block in Downtown Houston

by Realty News ReportJanuary 12, 2014
Share0

HOUSTON – Chevron Corp. has purchased a city block in downtown Houston not far from the site of its proposed 50-story office tower.

Chevron bought the block bounded by Travis, Leeland, Milam and Pease. The site is used as a surface parking lot. It is anticipated that the block will be used as a lay-down yard for construction materials when Chevron begins building its new downtown office building, according to Laura Van Ness of Central Houston.

But Chevron has put construction of its new office tower on hold. Chevron had indicated that the building would be started in 2014, however, the energy company said recently that the building won’t be underway any earlier than 2015.

The tower is proposed at 1600 Louisiana as the third tower in energy company’s downtown campus in Houston.

“Chevron remains committed to building the previously announced facility (the 50-story office tower),” says Chevron spokesman Justin Higgs.

Why buy the additional city block? Higgs said: “This acquisition is part of Chevron’s broader effort to support future growth in downtown Houston. This property acquisition gives us additional facilities flexibility as we expand downtown. This transaction further underscores our commitment to building the previously announced urban campus facility and continuing to expand our employee base and overall presence in downtown Houston.”

Cushman & Wakefield handled the sale of the block.

Chevron is receiving $12 million in incentives to relocate 1,700 jobs to Texas. The downtown tower had been expected to accommodate some of this growth.

Share0
previous post
Boxer Makes One of Its Biggest Buys Ever – 11 Buildings in N. Dallas
next post
Industrial Business Park Near The Woodlands Sold

Related posts

RNR Real Estate Briefs – Texas & more

Realty News ReportJune 1, 2025June 1, 2025

Mixed-Use Project Kicks Off Near Texas Medical Center

Realty News ReportMay 27, 2025

Home staging insights from NAR survey

Realty News ReportMay 25, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

CommGate
new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
RNR Ad 030124
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
230725-RNR_Digital-Ad_Red
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact