Vaalco Energy has relocated its corporate headquarters to a larger office space in the Westchase District.
The Houston-based oil and gas company signed a five-year lease for 23,500 square feet at Affinius Capital’s 2500 CityWest Boulevard, taking the entire fourth floor of the 25-story office tower, the Houston Business Journal reported.
Newmark’s Joshua Brown and Audrey Selber represented Vaalco in the lease transaction. Cushman & Wakefield’s Win Haggard represented Affinius Capital, with guidance from Dennis Tarro and Phillip Moore of Patrinely, the firm responsible for managing the building’s leasing and operations.
It is 2 miles from the firm’s previous headquarters at Woodbranch Investments’ 9800 Richmond Avenue, where it had occupied about 21,000 square feet. The move comes as Vaalco, led by CEO George Maxwell, has expanded its workforce to about 85 employees and contractors.
The firm needed room to grow, and it was swayed by the amenities and location of 2500 CityWest Boulevard, said Lisa Ruiz, Vaalco’s vice president of global human resources.
Built in 1982 and renovated in 2020, it offers a fitness center, coffee shop and conference spaces. The buildout has a mix of individual offices, open cubicles and shared workspaces.
The move brings the building’s occupancy rate up four points to 82 percent, according to Haggard, who has been in charge of leasing the property for nearly two decades.
Other tenants include Saudi chemical manufacturing company Sabic, Massachusetts-based software development company Aspen Technology, and armored car company Loomis.
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Vaalco’s relocation reflects a broader trend of companies seeking updated office spaces in prime areas of Houston, particularly West Houston, where leasing activity is concentrated.
Notable leases include Noble Corporation’s headquarters at CityWestPlace, and Apache Corporation’s consolidation of 800 employees at One Briarlake Plaza.
— Andrew Terrell