Apache Takes Two-Year Extension On HQ Lease At Post Oak Central
Apache's highly anticipated Galleria high-rise will have to wait a bit longer. Apache inked a 26-month lease extension with Parkway on its 524K SF corporate HQ at Post Oak Central. The renewal preserves Apache's existing five-year and 10-year renewal options.
"We are pleased that we were able to reach an agreement with Apache with a renewal that is mutually beneficial to both parties," Parkway CEO Jim Heistand said. "This extension gives Apache at least two more years of term while creating value for Parkway's stockholders and adding stability to Post Oak Central for nearly five years."
Apache made headlines in 2012 when it bought 6.4 acres between the first two phases of BLVD Place. In 2015, permits were approved for the company's $172M high-rise HQ, but the work has yet to begin.
Apache was represented by Tim Relyea and Scott Wegmann of Cushman & Wakefield.
