Direct Energy Relocates Headquarters from Greenway Plaza to Downtown Houston Center

HOUSTON – Brookfield Properties has announced that Direct Energy LP has signed a lease for its corporate headquarters at 2 Houston Center, the Class A office tower at 909 Fannin Street in downtown Houston.

Under the agreement, Direct Energy will occupy the largest office footprint at 2 Houston Center to date, leasing 105,578 square feet.

Direct Energy, one of North America’s largest retail providers of electricity and natural gas, currently employs about 930 people in Houston and plans to relocate to 2 Houston Center in April 2021.

This headquarters move follows a broader shift away from Greenway Plaza, the 52-acre, 4.9 million-square-foot office complex inside the Loop; last summer Occidental Petroleum announced plans to leave Greenway Plaza and listed 814,000 square feet for sublease.

For Brookfield, the Direct Energy lease underscores market demand for its Houston Center redevelopment. Brookfield acquired the 4.2 million-square-foot complex in late 2017 for $875 million and committed to a comprehensive renovation to maintain the property’s Class A standing as newer buildings enter the market.

“Direct Energy’s decision to move to Houston Center reinforces the strength of the downtown submarket and the keen desire for a collaborative workplace located in an area with ample amenities for employees and guests,” said Travis Overall, Executive Vice President and Head of the Texas Region for Brookfield Properties. “Houston’s diversified economy and business climate continue to attract new companies to our city’s urban core, and we’re pleased with the opportunity to serve these great businesses.”

In January 2019, Brookfield unveiled plans for a major overhaul of Houston Center, including a new arrival sequence along McKinney Street featuring a central plaza and green space, monumental stairs connecting landscaped terraces, a two-story glass façade, and reclad skybridges designed to activate street-level restaurants and retail. Construction on the redevelopment began in February.

Direct Energy was represented in lease negotiations by Brandon Clarke, Paul Penland, Ryan Roth, Josh O’Rear, and Mark Reilly of CBRE. Brookfield Properties’ representation included Doug Little, David Baker, Kelli Gault, and Jack Scharnberg of Transwestern, alongside Clint Bawcom of Brookfield Properties.

“We are very excited to relocate our headquarters and employees to downtown Houston,” said A. Ron Lewis, Head of Real Estate and Facilities Management at Direct Energy. “The momentum behind the Houston Central Business District’s revitalization plan, together with Brookfield Properties’ commitment to redevelop 2 Houston Center, gives us the opportunity to create a more engaging and collaborative work environment in one of the most active areas of the Houston metro. We are confident that joining this vibrant community—with excellent live, work and play options—will help us retain and attract the talent essential for business growth.”

Brookfield’s focus on placemaking is also evident in its recent renovation of One Allen Center and in future plans for full lobby renovations at Two and Three Allen Center, as well as the transformation of the C. Baldwin building, formerly the Doubletree Hotel.