THE WOODLANDS – (Realty News Report)- Western Midstream Partners leased 133,948-SF — the top five floors of 9950 Woodloch Forest Drive, a prime office building in The Woodlands that had been occupied by Occidental Petroleum and Anadarko Petroleum.
The 31-story tower is one of two premier Class AAA office towers and recently rebranded The Woodlands Towers at The Waterway.
As part of a $565 million deal, The Howard Hughes Corp. acquired the two towers (formerly Anadarko Petroleum Corp. headquarters) totaling 1.4 million square feet office space from Occidental Petroleum in late 2019.
With the Western Midstream Partners lease agreement, 9950 Woodloch Forest Drive is now 35 percent leased.
Robert S. Parsley, Norman V. Munoz and Jillian Fredericks with Colliers International represented The Howard Hughes Corp in the lease.
James P. Bailey, Jr., Chad Beck and Rich Claussen with Cushman & Wakefield represented Western Midstream Partners, LP.
“We are pleased to have signed a new lease with The Howard Hughes Corporation and to retain our corporate office in The Woodlands Towers. This provides us with compelling economics, flexibility, and stability for our employees and avoids unnecessary relocation costs,” said Craig Collins, Senior Vice President and Chief Operating Officer, Western Midstream.
Howard Hughes Corp., the developer of The Woodlands, plans to relocate its corporate headquarters from Dallas to 9950 Woodloch Tower building later this year.
The other former Anadarko office building, the 808,000-SF 32-story tower at 1201 Lake Robbins Drive, has been leased for thirteen years to Occidental.
Western Midstream acquires, owns, develops and operates midstream energy assets. The estimated commencement date for move-in to The Woodlands Towers at The Waterway, which offers frontage along Interstate 45, is anticipated for November 2020. Temporary space is being provided to Western Midstream beginning in April 2020.
The Woodlands is a 28,000-acre master planned community located 27 miles north of downtown Houston.
March 19, 2020 Realty News Report Copyright 2020
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