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SLS Properties Agrees to Buy Chevron's 30-Acre Bellaire, Texas Campus

Existing Office Space Represents One of Houston's Largest Infill Development Sites
September 4, 2018
SLS Properties has agreed to purchase Chevron's former 30-acre campus in Bellaire, Texas.

Chevron’s former campus in Bellaire, Texas, is under contract to be purchased by SLS Properties, the real estate company confirmed Friday with CoStar News.

The property, one of the Houston area's largest infill development sites, comprises 30 acres of prime urban real estate just south of The Galleria shopping mall, which sees more than 30 million visitiors each year, according to owner Simon Property Group's website.

The main features of the campus, located at 4800 Fournace Place, are two office buildings of 10 and six stories totaling 547,370 square feet. Chevron has invested nearly $100 million in capital improvements on the site since 2005.

Chevron vacated the property in 2017, consolidating to the energy company's larger corporate campus in downtown Houston.

Permits filed with the city by Houston-based SLS Properties would allow a parking garage to be built on the site, and for the 10-story building to be leased to multiple tenants. Bellaire’s Planning and Zoning Commission will decide on the permits after a public hearing next month, according to a city memo.

Holliday Fenoglio Fowler, the brokereage firm representing Chevron in the pending deal, could not be reached for comment.

Kyle Hagerty, Houston Reporter  CoStar Group   
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