11 January 2008 17:58 [Source: ICIS news]
HOUSTON (ICIS news)--Dow Chemical plans to sell its Houston office as the company relocates its operations in the city to a new building, a spokeswoman said on Friday.
The new building, at 1254 Enclave Parkway in Houston, is being developed by CORE Real Estate.
Dow will lease roughly 280,000 square feet (26,040 square metres) of the six-storey, 344,053-square-foot building, according to a statement issued by CB Richard Ellis, which represented Dow in the deal.
Financial terms were not disclosed.
Dow's Houston operations are currently at the Houston Dow Center and Memorial Plaza.
Dow has plans to sell the Houston Dow Center, said spokeswoman Ria Griffin. The company leases space at Memorial Plaza.
Dow is relocating its Houston operations because its current office is 30 years old, Griffin said. In addition, the move will allow Dow to have all of its Houston operations in one location.
Dow expects to spend one month moving its 1,200 Houston employees to the new office, Griffin said, and should complete the move in September.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections