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Energy Corridor Pain: BP Moving Onshore Headquarters from Houston to Denver

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BP oil & gas HQ will occupy 86,000 SF in this new building being developed in Denver by Trammell Crow and Clarion Partners. 

HOUSTON – BP is relocating its U.S. onshore oil and gas headquarters from Houston to Denver. Various divisions of BP, including BP America, occupy space in Houston’s Energy Corridor.

BP’s Lower 48 onshore headquarters will occupy 86,000 SF in new building under development by Trammell Crow. In an exclusive article last month, Realty News Report said BP was contemplating a move into the Trammell Crow building in Denver, as BP jobs were being exported from Houston.

BP will initially move 200 employees to Denver. The new 210,000-SF building, Riverview at 1700 Platte will be completed at the end of 2017. The project, developed in partnership with Clarion Partners, will be on the banks of the Platte River, close to Denver’s redeveloped Union Station.

A number of moves are being made at BP’s Energy Corridor complex on the south side of Houston’s Interstate 10, west of Eldridge Parkway, where it has over 2 million SF of space. The company’s 390,000-SF Helios Plaza building there is up-for-sale in a sale-leaseback opportunity. And BP, which has announced major layoffs, is expected to sublease about 1 million SF of its office space in the Energy Corridor complex.

The Energy Corridor, in a ranking of the nation’s submarkets, led the nation in the supply of sublease space, according to a recent JLL report.

Dec. 14, 2016 Realty News Report Copyright 2016

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