Houston Chronicle by Nancy Sarnoff Aug. 21, 2019
Now that Occidental Petroleum no longer intends to occupy the former ConocoPhillips campus — the sprawling Energy Corridor office development it purchased just months before acquiring Anadarko — observers are wondering: What will come of the corporate hub?
The answer could come as early as October, according to brokers preparing to list the nearly 70-acre property for sale. They will likely target such groups as mixed-use developers, schools or universities, and perhaps even the Texas Medical Center.
“Someone could come in and redevelop it. Someone could utilize several of the buildings and redevelop parts of the campus. Someone could come in and focus on mixed-use, complementing the buildings with retail, hotel and other amenities,†said Brandon Clarke, executive vice president of the Houston office of CBRE, which plans to bring property to market just after Labor Day.
Prospective buyers will then have about six weeks to submit bids for the property and the some 1.4 million square feet of buildings developed there for ConocoPhillips in the early 1980s. No asking price has been set.
The campus, just north of Interstate 10 along North Dairy Ashford, is valued at about $87 million, according to the Harris County Appraisal District. That’s down from last year when HCAD assessed it at around $95 million.
More:
https://www.houstonchronicle.com/business/real-estate/article/Former-ConocoPhillips-campus-goes-on-the-market-14366958.php
