One of Denver’s oil and gas giants is eyeing a headquarters move within the city.
Antero Resources, currently based out of an office building next to Union Station downtown, is close to a deal that would see it move to Cherry Creek, according to multiple sources familiar with the deal.
The company has zeroed in on an office building planned by Seattle-based Schnitzer West for the corner of 2nd Avenue and Fillmore Street. The deal would be for most or all of the building’s office space, sources said.
Schnitzer West submitted development plans to the city in June for the project at 201 Fillmore St., currently home to a retail building used by Men’s Wearhouse and others. Those plans called for a 140,000-square-foot structure topping out at eight stories.
Antero Resources didn’t respond to multiple requests for comment. Schnitzer West Development Manager Kyle Flippen told BusinessDen earlier this month that the building had no confirmed tenants, while noting that developers are often subject to non-disclosure agreements when it comes to specific leasing activity.
Antero is currently based out of One Union Station, a five-story building at 1615 Wynkoop St. developed by East West Partners.
An East West executive told the Denver Post in 2012, prior to the building breaking ground, that the company had leased 70,000 square feet on floors three through five. In 2019, property management company ColeTaylor said in a press release that Antero occupied 98,000 square feet in the building, including the second floor.
Additionally, the Colorado Real Estate Journal reported in 2015 that Antero had leased 37,000 square feet in an adjacent building developed by Continuum Partners.
Since the coronavirus pandemic began, office space in Cherry Creek has been in high demand, while the downtown leasing market has comparatively struggled. Still, the area around Union Station has generally been more successful at attracting and retaining tenants than other parts of downtown.
Antero would be the most high-profile firm to leave downtown for Cherry Creek in recent years.
A move wouldn’t take place for at least a couple years. Flippen previously told BusinessDen that Schnitzer West hoped to break ground in the second quarter of 2023, and complete the project two years later.
Cherry Creek is the only submarket in Denver where new office buildings regularly break ground with signed leases in place.
Antero had revenue of $4.6 billion in 2022, according to financial filings. The publicly traded company’s stock price has doubled since the start of the year, closing Friday at $37.55 a share.