Chevron Phillips Chemical Company moved its global headquarters to the Woodlands, and it sold its old digs.
The petrochemical giant offloaded 10001 Six Pines Drive to Beland Properties LLC, the Houston Business Journal reported.
JLL brokered the deal on behalf of Chevron Phillips, touting strong interest from owner-users and calling the 200,000-square-foot, eight-story building a “rare value-add opportunity” in one of Houston’s healthiest office submarkets. The sale closed June 2. Records show Beland Properties was incorporated on June 18.
Chevron’s new HQ, Building 3 of the Research Forest Lakeside campus, at 9500 Lakeside Boulevard in The Woodlands, spans 360,000 square feet across six stories and sits on a 13-acre site the company bought from developer Warmack Investments in 2023. It includes a parking garage and outdoor recreation space with native plants and light fixtures meant to reduce light pollution.
Chevron Phillips formed in 2000 as a joint venture between Chevron Corporation and Phillips 66. It is led by President and CEO Steve Prusak.
The headquarters move consolidates nearly 950 employees from three offices, including the company’s legacy presence at Six Pines and smaller offices at 2445 and 4055 Technology Forest Boulevard. The company has already subleased the space it vacated at 2445 Technology Forest.
It first listed 10001 Six Pines for sale in March 2023 and tapped JLL’s Kevin McConn, Jeff Cairns and Brandon Clarke to market the building that summer. The Woodlands submarket has one of the lowest office vacancy rates in Greater Houston, sitting at 12.5 percent, below the 14.4 percent five-year average, and sublease inventory is down 30 percent year over year, according to JLL.
The firm operates chemical manufacturing plants locally in Baytown, Pasadena and Brazoria County, with global offices and plants throughout the U.S., Asia and the Middle East.
— Judah Duke
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