Sunset Development Purchases Chevron’s Bishop Ranch Campus

Sunset Development, the owner and developer of Bishop Ranch in San Ramon, CA, has reacquired Chevron’s 92-acre, 1.3-million-square-foot “Chevron Park” campus within the Bishop Ranch property. Chevron has also signed a new 400,000-square-foot lease that keeps the company’s global headquarters in San Ramon.

“It’s exciting to reacquire this important piece of land from our largest and longest standing customer,” said Sunset’s Alex Mehran, Jr. “Chevron has been a key partner in developing Bishop Ranch and we are excited to work with them on their evolving needs.”

Chevron’s new headquarters will be located within a new 1.8-million-square-foot building owned by Sunset and MetLife Investment Management. “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 Chevron’s Mary Boroughs.

Bishop Ranch is evolving into a $5 billion mixed-use, walkable neighborhood with apartments, homes, a hotel and retail planned. Sunset Development says the reacquisition of the Chevron parcel, considered the gateway to Bishop Ranch, is a key part of that evolution.