SLS Properties Closes on 30-Acre Chevron Campus

Commercial investment and development company SLS Properties closed on its acquisition of the 30-acre, 547,370-square-foot Chevron Corp. campus in Bellaire, TX, in the Houston area. The property at 4800 Fournace traded hands for an undisclosed amount.

HFF’s Jeff Hollinden, Wally Reid and Davis Adams represented Chevron in the sale. SLS Properties also owns 15 acres of land adjacent to its just-acquired campus.

The new owner plans to convert the two buildings into multitenant office buildings, and will also build a parking garage on the site. The plan is to target professional services firms and medical office tenants.

SLS Properties also indicted that exterior renovations will be minimal, aside from power washing the outside walls and possibly painting the buildings’ bricks. Since 2005, Chevron had invested nearly $100 million in capital improvements to the property before vacating it in 2017.

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