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Three-Year Search Ends With 23,199-SF Buy

THE WOODLANDS, TX-Tejas Research & Engineering pays just under $1 million for two buildings on 2.5 acres. The property, formerly owned and occupied by Pennzoil Quaker State, will house Tejas' headquarters and manufacturing operations.

By Jennifer D. Duell | Updated on July 20, 2005

THE WOODLANDS, TX-After searching three years, Tejas Research & Engineering has found a new home for its corporate headquarters and safety valve manufacturing–Pennzoil Quaker State’s former research and technology center. Tejas has paid a little less than $1 million to Shell Oil Co. for part of the complex.

Tejas picked up the former pilot plant and machine shop, totaling 23,199 sf on 2.5 acres, at the 1520 Lakefront Circle complex, which includes a 45,463-sf office building on a 3.5-acre tract. The asset has been on the market since 2002 at a list price of $4.5 million, according to Pollard Galipp, a broker with Cypressbrook Co. in Houston.

“We put our first offer in for this property three years ago and we couldn’t come to terms,” Galipp tells GlobeSt.com. “We ended up looking at everything in the city, but kept coming back to this one because the buildings were just perfect.”

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