When Chevron vacates the 100-acre campus in 2023, freeing up prime real estate for the area’s growing life-sciences industry or developers looking to build apartments, it hopes to move into a smaller space in San Ramon, which will remain its headquarters, the Wall Street Journal said.
There are deep roots in California for Chevron going back to the late 1800s. While company leadership has pushed for a permanent move to Texas in the past, the oil company’s legacy in the state coupled with the location of its Richmond refinery in the East Bay has kept the company in California, sources told the Wall Street Journal.
“The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,” a spokesperson told SFGATE. “The move is expected to occur during the third quarter of 2023. Chevron will remain headquartered in California, where the company has a 140-year history and operations and partnerships throughout the state.”