Business is ripe in Midland’s vineyard

MIDLAND – Ground has been broken on a new 58,000-sf, two-story office building at The Vineyard at Fasken Oil and Ranch Office Park on Holiday Hill Rd.

The building will serve as the regional headquarters for SM Energy which currently has 75 employees, but will add another 50 jobs once the building is completed in March 2014. The company also has an option to build a second building at a later date.

Situated on 1,000 acres on the C Bar Ranch, The Vineyard is an effort by Fasken to diversify away from being primarily an oil and gas company.

In addition to SM Energy’s building, construction on a spec office building has also begun. The buildings are estimated to cost a combined $15 million. The office park may hold up to seven office buildings.

The Vineyard will also feature a 176-unit apartment complex currently under construction along with single-family residences and an elementary school.