{"id":1004079817,"date":"2013-07-08T08:31:57","date_gmt":"2013-07-08T16:31:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004079817"},"modified":"2022-12-08T05:14:28","modified_gmt":"2022-12-08T13:14:28","slug":"chevron-to-build-1-7-msf-houston-high-rise","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chevron-to-build-1-7-msf-houston-high-rise\/","title":{"rendered":"Chevron to Build 1.7 MSF Houston High-Rise"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004079821\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chevron-to-build-1-7-msf-houston-high-rise\/chevron-houston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg\" data-orig-size=\"405,480\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Chevron Houston\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg?w=405\" class=\"alignleft size-medium wp-image-1004079821\" alt=\"Chevron Houston\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg\" width=\"253\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg 405w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Chevron-Houston.jpg?resize=253,300 253w\" sizes=\"auto, (max-width: 253px) 100vw, 253px\" \/><\/a><\/p>\n<p>With no end in sight to its growing staff, Chevron U.S.A. Inc. will add more than a little bit of elbowroom to its downtown Houston offices through the addition of a 1.7 million-square-foot tower. The 50-story skyscraper will join two neighboring Chevron buildings to create a company campus in the central business district of the Lone Star State&#8217;s largest city.<\/p>\n<p>Chevron isn&#8217;t bragging about numbers in terms of the building&#8217;s development cost, but it&#8217;s no secret that the company will have a bit of a helping hand in bringing the project to fruition, as the State has committed to providing Chevron with $12 million through the Texas Enterprise Fund.<\/p>\n<p>The sizeable state-of-the-art structure, which will carry the address of 1600 Louisiana St., could serve as a major corporation&#8217;s headquarters, but Chevron&#8217;s home base will remain in California.\u00a0. Houston, however, commonly considered the energy capital of the world, is a key location for the company.\u00a0And the sprawling HOK-designed addition will be about more than extra square footage.<\/p>\n<p>&#8220;The new building and expanded urban campus will provide a first-rate work environment for our employees and help us remain the employer of choice,&#8221; Bereket Haregot, president of Chevron&#8217;s Business and Real Estate Services division, said in a prepared statement.<\/p>\n<p>With new office space, the ground will be paved for Chevron&#8217;s creation of more than 1,700 jobs in the professional, technical and administrative personnel areas. The remainder of the energy concern&#8217;s downtown Houston office-tower trifecta consists of the\u00a01.3 million- and 1.2 million-square-foot\u00a0buildings at 1500 Louisiana and 1400 Smith, the latter of which Chevron acquired from Brookfield Office Properties for $340 million in 2011.<\/p>\n<p>Chevron expects to make the final investment decision for 1600 Louisiana in the second quarter of 2014, in time for occupancy to begin in the fourth quarter of 2016.<\/p>\n<p>For any company currently in need of a huge home in Houston, building anew or snagging a spec property is done more out of necessity than desire, as hefty blocks of premier office accommodations in the city have become harder and harder to find. As noted in a second quarter report by commercial real estate services firm Jones Lang LaSalle, &#8220;High demand for office space has sparked the need for new developments and build-to-suits for businesses looking to expand.&#8221;<\/p>\n<p>A bevy of projects are underway, including Transwestern&#8217;s 660,000-square-foot Westgate development, which is already pre-leased to the tune of 90 percent. Andarko Petroleum Corp. topped out a 550,000-square-foot tower at its campus in The Woodlands submarket in June and during the first quarter, per a JLL report, Bechtel Corp. was among the major companies on the hunt for land or build-to-suits<b>.<\/b><\/p>\n<p>For Chevron, taking building into its own hands is not presently limited to Houston. In June, news emerged that the company had selected Swinerton Builders Texas to construct its 340,000-square-foot,\u00a0$100 million\u00a0Chevron Midland Campus in Midland, Texas.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With no end in sight to its growing staff, Chevron U.S.A. Inc. will add more than a little bit of elbowroom to its downtown Houston offices through the addition of a 1.7 million-square-foot tower. <\/p>\n","protected":false},"author":969,"featured_media":1004079821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1589,21742,21747],"tags":[],"class_list":["post-1004079817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-houston","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chevron to Build 1.7 MSF Houston High-Rise - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/chevron-to-build-1-7-msf-houston-high-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chevron to Build 1.7 MSF Houston High-Rise\" \/>\n<meta property=\"og:description\" content=\"With no end in sight to its growing staff, Chevron U.S.A. 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