Energy Company Leases 5 Floors Of Former Anadarko Tower In The Woodlands
Western Midstream Partners has signed a 134K SF lease for the top five floors of 9950 Woodloch Forest Drive in The Woodlands, one of the two office towers formerly occupied by Anadarko Petroleum.
Occidental Petroleum completed its acquisition of Anadarko in August, including the company’s two Class-A office towers in The Woodlands. Howard Hughes Corp. purchased the towers from Occidental in late 2019, and rebranded them as The Woodlands Towers at The Waterway.
As part of the agreement, the other 808K SF tower, 1201 Lake Robbins Drive, has been leased for 13 years to Occidental.
The lease agreement between Western Midstream Partners and Howard Hughes means that the office building is now 35% leased. Howard Hughes is set to relocate its headquarters from Dallas to the same building later this year.
Western Midstream’s estimated date for move-in to the newly leased space is November, with temporary space being provided to the energy company starting in April.
The news follows yesterday’s announcement that Howard Hughes sold the 208K SF build-to-suit MD Anderson The Woodlands building to an undisclosed buyer for $115M. That building is located at 100 Fellowship Drive.
Last year, Howard Hughes announced a major realignment of its corporate strategy, which involves selling about $2B in non-core assets to be reinvested in its core master-planned communities around the U.S., including The Woodlands.