Occidental Petroleum looks to sublease six floors downtown

granitetower

Granite Tower is located at 1099 18th St. (Thomas Gounley)

An oil and gas firm has put nearly half its downtown Denver office space on the market.

Occidental Petroleum Corp. is looking to sublease six full floors — 130,068 square feet in total — in Granite Tower at 1099 18th St., according to marketing materials prepared by CBRE.

Anadarko Petroleum Corp., which Houston-based Occidental acquired last year, originally leased the space. Anadarko signed a 12-year lease extension for 295,743 square feet in the tower in the fourth quarter of 2018. It was the largest lease signed in Denver that year.

Now, Occidental is looking to unload the building’s 13th through 18th floors, which average 21,692 square feet each, according to the marketing materials. The space comes with a tenant improvement allowance of more than $50 per square foot.

Occidental did not respond to a request for comment. The Denver Business Journal first reported the space had been put on the sublease market.

CBRE brokers Anthony Albanese, Andrew Swetnam and Will Hightower have the listing. Albanese declined to comment.

The 31-story Granite Tower is owned by KBS, which purchased it for $149 million in 2010. Other tenants in the building include Personal Capital and Causey Demgen & Moore P.C.

granitetower

Granite Tower is…

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments