A Fortune 500 engineering and construction company wanted a modern office near top talent and clients for its Houston operations.
So after occupying an office complex in Sugar Land, Texas, since the 1980s, Fluor hired Cushman & Wakefield to help it with its real estate search in the Bayou City. Irving, Texas-based Fluor's Houston operations are home to its energy solutions business, making West Houston's Energy Corridor a top contender for Fluor's relocation from Sugar Land.
Fluor initially signed a lease during the first half of 2023 for all of Three Eldridge, a 13-story, 308,186-square-foot building that is part of the three-building Eldridge office campus off North Eldridge Parkway, just south of Interstate 10.
Then at the end of 2023, Fluor expanded its commitment by leasing 104,667 square feet across five floors at Two Eldridge. The two leases total 412,853 square feet.
Fluor plans to relocate 1,600 employees from Sugar Land to the Energy Corridor this year to its new offices that have enough space for the company's anticipated growth. The deal has been selected as the winner of the 2024 CoStar Impact Award for lease of the year in Houston, as judged by a local team of real estate professionals familiar with the market.
About the Deal: Granite Properties acquired the Eldridge office campus in 2019, knowing over 600,000 square feet of office space would soon become available. Granite completed the ongoing updates to the buildings, including new hospitality-driven lobbies, outdoor workspaces, an indoor air filtration system and touchless features. With Fluor's leases, the three-building Eldridge campus is now 95% leased.
What the Judges Said: "Major win for the Energy Corridor," said Ariel Guerrero with Avison Young. "Fluor's significant relocation lease to Granite's Eldridge complex showcases the appeal of the newly renovated space and top-notch amenities. This move brings not only a major industry leader to the area but also new jobs and increased economic activity."
They Made it Happen: Scott Martin, Andrew Elliott and Jon Dutton with Granite Properties represented the landlord in-house on the lease. Rick Kaplan, David Guion and Chris Oliver of Cushman & Wakefield represented Fluor.