The Coca-Cola Co. has sold the Minute Maid Building in line with its plans to move to Sugar Land, Texas, according to reports.

The soft drinks company was cited in the Houston Business Journal yesterday (29 October) as having sold its 351,000-square-foot building in the Galleria area, to a collective made up of Cameron Management, Wachovia Bank and a group of local investors, for an undisclosed sum.

The news service added that the Minute Maid division of TCCC will lease back 150,000 square foot until its new premises are available. The company is reportedly in the process of negotiating a lease for a newly constructed office building in Sugar Land Town Square.

Last year, the 29-year-old building underwent a US$11.8m renovation which involved kitting it out with a gym, cafeteria and 1,230 parking spaces.