Monday , 26 June 2017
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Apache Extends 524,000 SF Lease in Post Oak Central

Post Oak Central complex in Uptown Houston.

HOUSTON — Apache Corp. has extended its 524,000 SF lease at Post Oak Central, an office complex on Post Oak Boulevard in Uptown Houston.

Parkway, the owner of Post Oak Central, announced today that it has signed a 26-month lease extension with Apache, a Houston based energy firm. The renewal extends all 524,000 square feet currently occupied by Apache at 2000 Post Oak Blvd. through February 28, 2022.

Apache owns six acres of vacant land on Post Oak that it purchased in 2012 with intentions of constructing a new headquarters building. The site, which was acquired from Ed Wulfe, is just a couple of blocks from Apache’s existing offices. But the energy markets too a nosedive before Apache strte the building and the firm, like many Houston energy companies, put some of its West Houston office space up for sublease.

“We are pleased that we were able to reach an agreement with Apache with a renewal that is mutually beneficial to both parties,” stated James R. Heistand, President and Chief Executive Officer of Parkway.  “This extension gives Apache at least two more years of term while creating value for Parkway’s stockholders and adding stability to Post Oak Central for nearly five years.”

Apache was represented by Tim Relyea and Scott Wegmann of Cushman & Wakefield.

Last fall, Apache announced a major discovery in West Texas with 3 billion barrels of oil and 75 trillion cubic feet of natural gas. The discovery, called Alpine High, was the biggest find ever for Apache.

June 13, 2017 Realty News Report Copyright 2017

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