press release

Chevron Press Release - Chevron Reaches Agreement to Sell Headquarters Building

SAN FRANCISCO, July 12, 1994 -- Chevron Corporation today announced it has reached an agreement to sell its 72-year-old headquarters building at 225 Bush Street in San Francisco's financial district.

Due to confidentiality commitments among all parties involved, Chevron and its broker, Stubbs, Collenette and Associates, can not yet disclose the name of the buyer or the terms of the purchase and sale agreement.

Chevron and the buyer intend to finalize arrangements for the sale during the coming weeks.

The company announced its decision to sell the building in July 1993 and selected Stubbs Collenette and Associates as its broker in January 1994. Both U.S. and non-U.S. prospective buyers expressed strong interest in the building.

Chevron has consistently stated that, despite plans to sell 225 Bush Street, it will remain headquartered in San Francisco, where it currently owns two other office buildings. Chevron intends to continue leasing office space at 225 Bush Street for at least several years.

Updated: July 1994