Fluor maintains a one-million-sf operational center at 1 Fluor Daniel Dr., which is about two miles from the 528,856-sf One Sugar Creek Place at 14141 Southwest Freeway. "We're experiencing really strong performance in our chemical oil and gas area and the office is our stronghold in the Sugar Land region," a spokesman for the Irving, TX-based Fluor tells GlobeSt.com. "With this lease, we'll bring on board 800 to 1,000 more employees." The first wave will move into the class A office space in April.
"They'll take down about half the balance initially, then the remainder over the following months," says Sanford Criner, executive vice president with CB Richard Ellis in Houston whose team represented Chevron in the negotiations. Chevron inherited the building when it bought Unocal Corp., putting the space on the sublease market in July 2006. The 23-year-old building, situated on 15 acres, is owned by Beverly Hills, CA-based Unilev Capital Corp.
The Fluor spokesman confirms that the company had surveyed its options in the market, but One Sugar Creek ended up the winner due to the location. "Given the location of our other office, this made it a sweet spot for us," he adds. "This almost makes it like a campus setting." Comparable space in the Westchase-Sugar Land area is going for $18 per sf to $21 per sf.
Chevron's CBRE team included Steve Hesse, Michael Sieger and Mark Pillsbury. Representing Fluor were Jeff Osborn, Chris Oliver, Tom McDonald and Chris Bosley in Cushman & Wakefield of Texas Inc.'s Houston office.
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