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SLS Properties, which is buying the former Chevron campus in Bellaire, announced plans to lease the existing buildings as multi-tenant office space, according to the Houston Business Journal. The 30.5-acre campus is at 4800 Fournace Place.
The project is contingent on the approval of a four-level parking garage, which would increase the parking capacity from 600 to 1,400, SLS Properties co-founder Danny Sheena told the city's Planning and Zoning Commission last week.
The site includes two vacant office buildings: a 10-story, 452K SF office tower and a six-story, 95K SF building. It also includes an adjacent 15 acres also owned by Chevron, HBJ reports.
No major renovations are planned for the buildings, aside from power washing their exteriors and potentially painting the buildings, Sheena said. Chevron has vacated the property. SLS' acquisition is expected to be finalized later this month, and it is in talks with tenants to lease one or more floors in the empty buildings.
"Chevron regularly evaluates and prioritizes its portfolio," the company said in a statement last week, and that has been clear in the traction around its real estate.
Last week, the oil and gas giant sold 103 acres in Katy to Landmark Industries of Houston and announced it is tearing down the historic former Houston Press building Downtown. Chevron has not released plans for the Downtown tract; in Katy, Landmark turned around and sold 78 acres to Duke Realty to build 1.4M SF of industrial product. It has not disclosed its plans for the remaining 25 acres.
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