HOUSTON – (Realty News Report) – A 2 million-SF corporate campus with legacy ties to Compaq Computer and Hewlett Packard has been sold in one of Northwest Houston’s largest transactions in years.
JLL Capital Markets represented the seller, Hewlett Packard Enterprise, which has relocated their corporate campus to a new facility at City Place, which was formerly known as Springwoods Village.
The buyer was Mexcor International, a national liquor and beverage distributor, which adjacent property. Mexcor, which will immediately occupy a portion of the former HPE space, traces its historical roots to Licores Veracruz SA, a distillery established in Veracruz, Mexico in 1945. Today, the Mexcor firm has a distribution network with over 2,000 brands reaching all 50 states.
Campus Located on Compaq Center West Drive
The acquired HPE property is located at 11445 Compaq Center West Dr., the former HPE campus sits on a 66-acre site at the intersection of State Highway 249 and Louetta Rd.
The property consists of five office buildings, two manufacturing/distribution buildings and four additional buildings that house maintenance and/or amenity space. Completed between 1984 and 1988, the campus offers a park-like setting and features such as climate-controlled skywalks, a full-service cafeteria, fitness center, numerous employee lounge areas and conference rooms, coffee/snack bars and an outdoor covered pavilion with a kitchen area for events. The campus includes five parking garages, which along with surface lots provide a total of 5,229 spaces.
Compaq Computer Founded in Houston in 1982
Symbolizing one of Houston greatest technology success stories, the campus represents the legacy of Compaq Computer which as founded in 1982 by Rod Canion, Jim Harris and Bill Murto, former Texas Instruments executives. Compaq became one of the world’s largest PC makers. It was acquired by HP in 2002 for $25 billion.
Mexcor’s Deal and Future Vision
Houston real estate veteran David Munson with Boyd Commercial represented Mexcor International in acquiring the property from HPE. The purchase price was not disclosed.
“We are excited to continue our investments in Northwest Houston and expand our campus footprint,” said Eduardo Morales, Mexcor’s CEO. “This purchase of 66 acres and 2,050,000 square feet – in addition to our acquisition two years ago of the adjacent 28-acre facility with a 250,000-square-foot headquarter office and warehouse space represents our long-term optimism and commitment for our community. The combined 94-acre campus will position MEXCOR for continued growth of our distribution and logistics operations and also diversify into various technology driven ventures. I would like to thank HPE, JLL and Boyd for making this a smooth transaction. Our purpose is to elevate consumer experience when celebrating with our alcoholic beverage brands.”
The JLL Capital Markets team representing the seller was led by Kevin McConn, Rick Goings, Ronnie Deyo, Beau Bellow and Ethan Goldberg.
Leaving its old campus behind HPE into new facilities in north Houston, near Interstate 45 and the Grand Parkway in a 2,000-acre development now called City Place. It will be the global headquarters of HPE.
Exxon Mobil just announced it is also moving its corporate headquarters from the Dallas suburb of Irving to City Place, within walking distance of the new HPE headquarters.
The entirety of the new headquarters campus of Hewlett Packard Enterprise was recently acquired by a company affiliated with developer CDC Houston.
CDC Houston, developer of the 2,000-acre City Place, effectively acquired the interests of its partners in the HPE buildings – Patrinely Group and USAA Real Estate.
The transaction comes after another major announcement in City Place earlier this month. Exxon Mobil is relocating its global headquarters to the Exxon campus a few blocks away from the HPE campus.
The 440,00-SF LEED Silver HPE campus, located at 1701 East Mossy Oaks Road, consists of two, five-story buildings connected by bridges at each level. CDC Houston is a subsidiary of Coventry Development Corporation of New York.
March 31, 2022 Realty News Report Copyright 2022
Image: Courtesy JLL
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File: Huge HPE Campus Acquired by Mexcor
File: Hewlett Packard. Compaq, CDC Houston, Huge HPE Campus Acquired by Mexcor International. Jll. Boyd Commercial.11445 Compaq Center West Dr.