HOUSTON – February 25, 2025 – Granite Properties, a commercial real estate investment, development and management company, announced today that independent energy firm, SM Energy Company (NYSE: SM), has signed a long-term extension and expansion lease doubling their office space from 21,130 square feet to 41,454 square feet at One Eldridge in Houston’s Energy Corridor. The firm currently occupies the 10th floor and will relocate to the 11th and 12th floors after Granite completes renovating those two floors. SM Energy is anticipated to move into their new space in Q3 2025.
SM Energy was represented by Steven Mulhern of Mulhern Company along with Bill Scott of Real Estate One, and Granite was represented by Jon Dutton and Andrew Elliott of Granite Properties.
“We’re thrilled to support SM Energy’s growth in Houston and assist with expanding their office space to two floors at One Eldridge,” said Paul Bennett, Senior Managing Director, Granite Properties. “We’re proud that SM Energy has been a long-term customer of One Eldridge. Their continued commitment to the building is a testament to the appeal of high-quality buildings in prime locations with the best amenities,” he added.
SM Energy is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Texas and Utah.
One Eldridge is a 12-story, 245,315-square-foot office building at 777 North Eldridge Parkway. It is part of Eldridge, a Class A, LEED Gold-certified, three-building office complex totaling 828,784 square feet. All three buildings feature hospitality driven lobbies and outdoor workspaces called The Yard. Eldridge also has a Customer Connection Center at the center of the complex, which is accessible to all Granite customers. The center has a greeting desk, a coffee bar, an EATS café that will open early Q2 2025, a MOVE fitness center with lockers and showers, and three MEET conference rooms, including a training facility and phone room.
Eldridge is 92.2 percent leased. It has direct access to Interstate-10, Memorial Drive and North Eldridge Parkway and is near West Houston. The building provides an abundance of natural light and is walking distance from Terry Hershey Park, which contains 496 acres of public green space and a 12.2-mile trail.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991. The firm owns 11 million square feet of high-quality office space in Dallas, Houston, Atlanta, Denver, Southern California, Boston and Nashville. Granite is an established investor, developer and manager with a focus on sustainable, highly amenitized projects. It has completed more than $10 billion in real estate transactions and more than 30 million square feet of real estate development and acquisitions. Currently, Granite is developing 23Springs – a 642,000-square-foot building located in a mixed-use environment in Uptown Dallas. Granite focuses on creating extraordinary customer experiences through mixed-use environments, rich amenities, customer-centric service, and innovative wellness features. Granite, NAIOP’s 2022 Developer of the Year, was named one of Fortune Magazine’s Best Workplaces nine times, ranking #8 on their 2022 Best Workplaces in Real Estate list. For more information, visit: graniteprop.com.