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HP Marketing 487,000-SF Office Complex

HOUSTON-The Palo Alto, CA computer giant ends nearly three years of speculation with an announcement that it's selling five buildings and 47 acres of its 297-acre campus. Sources believe the holding will draw $36 million to $40 million.

By Amy Wolff Sorter | Updated on September 15, 2005

HOUSTON-Putting an end to long-time speculation, Hewlett-Packard Co. plans to sell five buildings, totaling 487,000 sf, and 47 acres of its 297-acre campus at the corner of US Highway 249 and Louetta Road. Sources believe the property could fetch $36 million to $40 million.

“There are a lot of people in that particular sector,” says Richard Zigler, director of research for O’Connor & Associates in Houston. “Many are there because of HP.” Others are there, he continues, because there are good buildings in nice areas. “There is a lot of executive housing in that area; the residential areas nearby are healthy; and the school districts are strong,” Zigler tells GlobeSt.com, adding the announcement of the sale wasn’t a surprise.

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