HP Selling 2 Million Square Feet of Office Space in Hot Houston Market
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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.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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