HP Selling 2 Million Square Feet of Office Space in Hot Houston Market

Hewlett Packard is completing the last of the cost reductions of it’s Compaq Computer acquisition by selling 2 million square feet of office space in it’s Northwest Harris County complex. While their will be no reduction in work force, the property is being under utilized and Houston is still a hot market.

The high cost of gasoline has spurred the Oil Industry and Houston is the epicenter. Add to that the migration of many businesses from New Orleans you have a market that has remained hot even while most of the country cools off.

So for HP selling the Houston property makes sense. No use holding it and trying to sell when oil is 30 dollars a barrel and the area is depressed.

The company is following through with a cost-reduction plan announced two years ago to consolidate real estate holdings into “core sites in key locations” around the world, give up some leased space and close sites it owns.
The space, 2.09 million square feet, is part of HP’s north campus.
The sale includes nine buildings, four parking garages and a common area building.
HP also is selling about 20 acres of undeveloped land and another 5.4-acre site that could be redeveloped at its Harris County campus. via the Houston Chronicle.

Related posts:
  1. Looking For Cheap Rent – Check Out Manhattan’s Sublet Office Space
  2. 7 Million More Foreclosures To Hit The Market?
  3. Want To Live Like Tom Brady? 10.9 Million Will Get You His Boston Penthouse
  4. Need To Sell Your Commercial Property? Call Your Local College
  5. Contractor Builds Million Dollar Business Card

Post a Response

« Back to text comment
  • Popular

    Most Comments

    Search

    Tags

    Archives

  • Recent Comments

    • I don't recommend CL in most cases...I use it for hiring, finding baby stuff, computers and bikes...anything else is a ...
      Aaron Knutson | 16Mar10 | More
    • Obtaining a viable news source would also be a welcome addition. Lets not pretend that rival political parties are not ...
      AB Estates International | 15Mar10 | More
    • CL is a crazy mess sometimes. I'll get response emails on a daily basis that are nothing but scammers. Get's ...
      Austin Mortgage | 15Mar10 | More
    • We get about 1 call every month related to a real estate scam on Craigslist. I try to visit my ...
      Gainesville Real Estate | 15Mar10 | More
    • If anyone thought this was going to go away in a few years they were just fooling themselves. It took ...
      Jim | 14Mar10 | More
    • Not sure this program passes the common sense test. Isn't it true that the governments management of the housing industry ...
      Bruce Dietz | 14Mar10 | More
    • Wow these numbers are mind boggling. I've heard that we were looking at an influx of foreclosure properties but.........
      Bruce Dietz | 14Mar10 | More
    • Well, it's March 2010 and I have not seen much of a change in the economy in Indianapolis, Indiana. Maybe ...
      Mike Woods - Indianapolis Real Estate | 14Mar10 | More
    • Coastal cities are fragile in the face of a catastrophe like this. The buildings would be destroyed in minutes.
      Millena Trust | 14Mar10 | More
    • As a potential first-time home buyer, I have zero confidence that I would be making a smart investment in purchasing ...
      Lori | 14Mar10 | More
  • Statistics

  • Friends

  • Subscribe





    Get Updates Delivered Daily By E-Mail:

    Delivered by FeedBurner