Energy, Utilities & Water  May 11, 2020

Occidental seeks to shed almost half of Denver office space

DENVER — Occidental Petroleum Corp. (NYSE: OXY) is subleasing six floors of office space in downtown Denver.

An online brochure from brokerage firm CBRE indicates that the 13th through 18th floors of Granite Tower, 1099 18th St., are available for sublease. Each floor encompasses about 21,690 square feet, totaling 130,068 square feet.

The brochure touts the space as “Downtown Denver’s most dynamic large block plug & play sublease opportunity” and indicates there are “potential opportunities for additional space.” An allowance of $50 per square foot for tenant improvement is being offered.

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The space amounts to 44% of the Houston-based oil company’s square footage in the building. Occidental inherited the lease from Anadarko Petroleum Corp., which it acquired in 2019 for $57 billion. Anadarko in late 2018 signed a 12-year extension on the lease for 295,743 square feet. The lease runs through April 2033. 

CBRE brokers Anthony Albanese, Andrew Swetnam and Will Hightower are managing the listing.

Occidental last week announced that it would shut in wells in the Denver-Julesburg basin through the end of 2020, including the Wattenberg field. The company is the dominant energy producer in Colorado and Weld County.

 

DENVER — Occidental Petroleum Corp. (NYSE: OXY) is subleasing six floors of office space in downtown Denver.

An online brochure from brokerage firm CBRE indicates that the 13th through 18th floors of Granite Tower, 1099 18th St., are available for sublease. Each floor encompasses about 21,690 square feet, totaling 130,068 square feet.

The brochure touts the space as “Downtown Denver’s most dynamic large block plug & play sublease opportunity” and indicates there are “potential opportunities for additional space.” An allowance of $50 per square foot for tenant improvement is being offered.

The space amounts to…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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