Anadarko Expands Woodlands Operations, Leases Another 232,000 SF

Anadarko Petroleum Corp. is expanding its operations in The Woodlands as a result of the Anadarko’s acquisition of Union Pacific Resources Group Inc.

Anadarko is subleasing the 232,000-sf Exxon/Mobil building in The Woodlands that was recently vacated by Exxon/Mobil. The lease complements a 130,000-sf pact for Waterway Plaza One building, a nine-story building scheduled for completion in November.

Anadarko has been destined to be a major player in The Woodands. The energy firm is moving corporate headquarters from the Greenspoint area of Houston to The Woodlands, a 27,000-acre, master-planned community, located 27 miles north of downtown Houston.

In its third building in The Woodlands, Anadarko will house more than 1,000 employees and corporate headquarters in a 30-story, 800,000 sf Anadarko Tower, being built on the edge of Lake Robbins. The Anadarko Tower will be completed in spring 2002. All structures are within walking distance of each other.

When the move is fully completed, Anadarko, one of the largest independent oil and gas production companies in the world, will occupy more than 1.1 million sf of office space at The Woodlands, a development of The Woodlands Operating Co., which is a joint venture of Morgan Stanley Partnership and Crescent Real Estate Equities Co.