Anadarko Petroleum Corp., an independent oil and gas company,announced Wednesday it has purchased 7.5 acres in a Houston suburbin order to build a 32-story, 800,000 square foot headquartersbuilding. The company said it needs to move to accommodate itsgrowth needs. Groundbreaking is expected early next year. Anadarkoplans to move in mid-2002.
Since 1980, the company has operated from the Anadarko Tower,where it presently leases 450,000 square feet. The company will bethe major tenant of the new building, located in the Woodlandsmaster-planned community 27 miles north of downtown Houston, whilesubleasing the rest of the office space. Anadarko said 700employees will work out of the new building.
Terms of the transaction were not disclosed.
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