HOUSTON-Roughly seven months after Oasis Petroleum inked a seven-year lease for 26,816 square feet in First City Tower, it already has expanded its footprint. The local company, which focuses on the acquisition and development of unconventional oil and natural gas resources, took an additional 11,638 square feet and now occupies a total of 38,454 square feet.
Oasis Petroleum’s new expansion space is located on the 16th floor of the 45-story, class A tower. The space, which was previously occupied by another oil and gas firm, has been empty for more than a year, according to Michael Anderson with Colvill Office Properties.
Anderson and Chip Colvill represented the building owner, FC Tower Property Partners LP, an affiliate of JMB Realty of Chicago, in lease negotiations. Chad Beck of Jones Lang LaSalle’s local office represented Oasis Petroleum.
Anderson tells GlobeSt.com that the space was in shell condition and required extensive build out to make it ready for Oasis Petroleum. The firm, which has been a tenant in the 1.3-million-square-foot tower since 2007, continues to add employees, necessitating additional space.
With the Oasis Petroleum expansion, First City Tower is 95% leased. Other major tenants include Waste Management, Vinson & Elkins, EnerVest Management Partners, Liskow & Lewis, Black Stone Minerals Company, RBC Wealth Management, Raymond James & Associates, Morris Architects, Whitney Bank and the Houston Bar Association.
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