Chevron has sold its 92-acre, 1.3M SF headquarters in San Ramon for $175M to Sunset Development, the firm it acquired the property from in the early 1980s.
Sunset owns the massive Bishop Ranch master-planned development encompassing the Chevron site. Chevron will be downsizing into a 400K SF office building in San Ramon and moving several hundred employees from California to Houston.
The headquarters complex of the second largest oil company in the US, known as Chevron Park, currently includes 13 buildings encompassing 1.4M SF and more than 2,000 workers.
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