MIDLAND, Texas – Anadarko Petroleum Corporation has chosen Midland for a new regional headquarters and will serve as the first anchor tenant at Westridge Commons, a mixed-use development being created through a joint venture between Continuum Partners and KKR.
The 38-acre Westridge Commons, situated adjacent to the regional headquarters of Chevron and Occidental Petroleum, will combine office, retail and multifamily components to form a new district intended to meet the evolving needs of Midland’s workforce and residents.
“We are excited to begin Westridge Commons with this exceptional facility for Anadarko,” said Mark Falcone, founder and CEO of Continuum Partners. “From our initial visit to Midland, we recognized that this parcel is ideally placed to create a vibrant new district that will support the increasingly sophisticated demands of this growing city.”
Anadarko’s land purchase marks the first major corporate commitment in the development. The site sits along Andrews Highway, roughly halfway between Fort Worth and El Paso, and benefits from proximity to established energy-sector operations. Construction of Anadarko’s building is scheduled to commence in February 2018, with completion of the office space and the first phase of retail slated for summer 2019. The new regional headquarters is expected to house about 300 employees initially, with Anadarko projected to occupy approximately 300,000 square feet at full build-out.
Headquartered in Houston, Anadarko is among the world’s largest independent oil and natural gas exploration and production companies, and the company’s presence underscores Midland’s role as a central hub for energy industry activity.
“The oil and natural gas industry has long been a cornerstone of the Midland community, and we look forward to contributing to its ongoing success and growth for many years,” said Chad McAllaster, Anadarko Vice President, Delaware Basin.
Continuum Partners, based in Denver, is the developer behind the nationally recognized Denver Union Station Transportation Center. Under Falcone’s leadership, the firm has redeveloped the historic Union Station into a major transit hub surrounded by substantial mixed-use development, integrating transportation, office, retail and residential uses.
Falcone also participated as a speaker at the National Association of Real Estate Editors (NAREE) conference in Denver in June, sharing insights on urban development and transit-oriented projects.