Chevron buys downtown property

Chevron Corp. has expanded its downtown property portfolio with the acquisition of a public parking garage at 1400 Louisiana.

The purchase was made “in the interest of increasing parking flexibility for our employees over the long term,” spokesman Russell Johnson said in an email. For now, the garage will remain public.

The 10-story property sits on around 31,000 square feet of land. Chevron purchased the property from the Metropolitan Life Insurance Co. out of Dallas. The purchase price was not disclosed, but the assessed value for 2012 was $13.7 million, according to the county’s appraisal district.

Chevron, which is moving as many as 800 jobs to Houston from its California headquarters, owns and occupies the two former Enron buildings. It also owns the former downtown YMCA property at 1600 Louisiana. The company has not announced what it plans to do with that land.