Howard Hughes Welcomes Oil Firm at Houston Skyscraper

9950 Woodloch Forest Drive, The Woodlands Towers at The Waterway. Image courtesy of The Howard Hughes Corp.

The Howard Hughes Corp. has announced that Western Midstream Partners has signed a 133,948-square-foot lease in a Class A+ office high rise at The Woodlands Towers at The Waterway in Houston. The company will occupy five floors in the 31-story skyscraper. Cushman & Wakefield assisted the tenant, while Colliers International represented the owner.

This commitment brings the 595,000-square-foot building to an occupancy rate of 35 percent. The tenant is expected to move into the tower in November, with the owner providing temporary space as early as April. Later this year, Howard Hughes will also relocate from its Dallas headquarters to The Woodlands.

Located at 9950 Woodloch Forest Drive, the LEED Silver-certified building was completed in 2014. Amenities include a lobby cafe, two-level fitness facility with a basketball and volleyball court, conference rooms and a 33,000-square-foot rooftop terrace. Situated close to Interstate 45, the high-rise is 20 miles from George Bush Intercontinental Airport.

The Cushman & Wakefield team included Chad Beck, James Bailey Jr. and Rich Claussen. Jillian Hendricks, Robert Parsley and Norman Munoz of Colliers International negotiated the deal on behalf of the owner.

Howard Hughes acquired the property, formerly known as Anadarko Petroleum Corporation Headquarters, last December from Occidental Petroleum. The $565 million portfolio totaled approximately 2.6 million square feet in three office assets. Consequently, Occidental signed a 13-year, full-building lease for the 808,000-square-foot building at 1201 Lake Robbins Drive, which is also part of The Woodlands Towers at the Waterway.