September 6, 2018
Four years after acquiring 103 acres in Katy, TX, Chevron Corp. opted to unload the land, selling it to Landmark Industries. Three days after the land deal closed, Houston-headquartered Landmark turned around and sold 78 acres to Duke Realty Corp. in Indianapolis. Duke’s plan is to develop a five-building, 1.4-million-square foot industrial property. Construction timelines or specifics were not immediately available.
The oil company acquired the 103 acres at Clay Road and SH 99 in 2014, but had no plans for the site. Though Chevron told the Houston Business Journal that the land would provide “future R&D facilities flexibility as we grow and expand our presence in the greater Houston area,” the land owner didn’t move forward with any projects.
Meanwhile, Chevron’s 30-acre, 547,370-square-foot office campus in Bellaire, TX, is under contract. Though the buyer’s name hasn’t been released, local media sources note that SLS Properties is the likely buyer of the property at 4800 Fournance Place. HFF is representing Chevron in marketing the property.
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