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Morgan Stanley Closes on Chevron/Texaco HQ

HARRISON, NY-Chevron/Texaco revealed on Friday, March 22, that it had closed on the sale of the former Texaco headquarters here with Morgan Stanley. The financial services firm will eventually employ 2,000 workers at the 2000 Westchester Ave. site.

By John Jordan | Updated on March 24, 2002

HARRISON, NY-Although the final deal was delayed about a week, Chevron/Texaco revealed late Friday that it has closed on the sale of the former Texaco headquarters property here to New York City-based Morgan Stanley.

Although no terms were disclosed, Morgan Stanley paid $42 million for the 725,000-sf property, which sits on 107 acres, according to papers the firm filed with the Westchester County Industrial Development Agency seeking tax breaks in relation to its purchase and planned capital improvement program at the 2000 Westchester Ave. property.

The transaction was originally scheduled to close a week ago, according to real estate sources.

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