Phillips 66 (NYSE: PSX) will build its new global headquarters at a 14-acre site in the Westchase District of Houston. The property, which will be acquired from an affiliate of Thomas Properties Group, Inc. (NASDAQ: TPGI), is located off Beltway 8 West, between Westheimer Road and Briar Forest Drive.
“We searched for several months for the right site to build a headquarters campus where our employees and future employees can come together to work, and develop their skills and talents,” said Greg C. Garland, chairman and chief executive officer of Phillips 66. “This property is conveniently located in the Westchase District and a location that aligns with our commitment to making our company a great place to work.”
The company is currently working on a design for the headquarters and intends to begin construction when plans are finalized and permitting is in place. The campus will include office space, conference and training facilities, along with wellness and dining options. Once ground is broken at the new site, construction is expected to take between 24-36 months.
“Phillips 66 has chosen an excellent property, in the heart of one of the most desirable business sections in the city,” said Jim Thomas, chairman and chief executive officer of Thomas Properties Group. “Its neighbors will include many of Houston’s top companies, and the site’s proximity to major roadways makes it a prime place to do business.”After emerging as an independent downstream company in May, Phillips 66 relocated its corporate offices from the ConocoPhillips campus in the Energy Corridor to temporary headquarters at the Pinnacle Westchase building.
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