Chevron sold its
San Ramon headquarters complex
on Wednesday, moving to downsize its California presence as the company shifts more workers to Texas.
The oil giant sold the 92-acre site at 6001 Bollinger Canyon Rd. to Sunset Development, which owns the massive, adjacent Bishop Ranch property. The price wasn’t immediately available. Sunset previously sold the same property to Chevron in the 1980s.
Chevron also leased 400,000 square feet of office space in Bishop Ranch, which will serve as its new headquarters. It’s less than a third of the size of the 1.3 million-square-foot property that it just sold and can accommodate around 2,000 employees, according to Sunset. It’s slated to open next year.
Chevron is one of numerous California-headquartered companies that have grown in Texas, though it’s keeping its headquarters in the Bay Area unlike recent departures like
Charles Schwab,
HPE
and
Tesla
. Chevron already has nearly 8,000 workers in Houston, the nation’s energy hub.
“Moving our headquarters to a new, modern leased space nearby provides the opportunity to create an improved employee experience in a more contemporary environment,” said Mary Boroughs, president of Chevron Environment Management and Real Estate Company, in a statement.
The Wall Street Journal
first reported
the sale.
The future of the Chevron site is unclear, though Bishop Ranch previously
built a $300 million mall
in 2018 and other developers are building housing projects on the property.
“This parcel is at the gateway to Bishop Ranch and will be a key part of our planning as we create a distinct California community,” said Alex Mehran, Jr., CEO of Sunset Development, in a statement.
Roland Li is a San Francisco Chronicle staff writer. Email: roland.li@sfchronicle.com Twitter: @rolandlisf
Read More:Chevron sells San Ramon HQ property as it shifts more workers to Texas
2022-09-29 00:33:32