Chevron recently purchased 77 acres of land in Cypress, Texas to develop a research and development campus. The property is owned by The Woodlands-based Howard Hughes Corp (NYSE: HHH), the developer behind Bridgeland Central – a multiphase district spanning 925 acres within the larger 11,500-acre Bridgeland community. According to Houston Business Journal, this marks Chevron’s first major real estate deal in Houston since announcing last year that they planned to sell their current headquarters in California and move additional employees there.
The potential of the master-planned community was one of the primary reasons for Chevron’s decision as construction on Village Green at Bridgeland Central recently kicked off its first phase – which includes a 100,000 square foot H-E-B grocery store; 49,000 square feet three story mass timber office building; plus other retail and restaurants. With nearly 6,000 employees downtown and 8 thousand across metro area already present in Houston , it looks like an ideal location for Chevron’s new R&D campus .
