The trend of companies laying off workers and relocating to the West Houston energy corridor continues.
Diamond Offshore Drilling Signs Lease for 63,000 SF Headquarters in 12-Story One Eldridge Building at 777 North Eldridge Parkway, Houston Business Journal Report.
The company will occupy the 9th, 11th and 12th floors of the 245,000-square-foot building. It is located in a complex of three buildings purchased by Granite Properties in 2019. Lonna Jenks of JLL and Eric Anderson of Transwestern represented Diamond Offshore in the transaction, while Jon Dutton and Andrew Elliott represented the landlord.
The lease represents an approximately 37 percent reduction in the size of Diamond Offshore, as it currently operates from a 98,000-square-foot space at 15415 Katy Freeway. The company has been at the location for 33 years and plans to move its 160 staff to One Eldrige by the end of the year.
Amy Roddy, senior vice president of human resources at Diamond Offshore, said collaborative workspaces, convenient locations and local amenities are among the attractions the company hopes will help retain employees.
With the lease, One Eldridge’s occupancy rate will rise from just under 50% to 85%.
Granite, which also owns the Eldridge Two building, undertook a $10 million renovation of the campus shortly after the purchase. Upgrades include a refreshed lobby, an outdoor lounge called the Yard, a coffee bar, a fitness center with virtual classes, three meeting rooms and a soon-to-be restaurant. The buildings have also achieved LEED Gold certification – a mark of sustainability achievement.
Despite challenging market conditions for the city’s office sector, leasing activity in the Energy Corridor continues to pour in. In April, French firm Technip Energies signed a lease for 171,600 square feet at West Memorial Place II, and Dutch geodata company Fugro leased 75,000 square feet at 13501 Katy Freeway last month.
— Quinn Donoghue
