Six Headquarters Fill Energy Drive Tower, Market briefs

In Houston, Some 180,000 SF of new leases have been signed at the 10000 Energy Drive office building on the north side of Houston

The 10-story office building is located in the City Place development in northernmost Harris County.

The building’s leasing surge includes six headquarters commitments in the building, said Newmark Executive Managing Director David Baker, who handles leasing in the building with Newark’s Elliott Hirshfeld, and Kristen Baker.

City Place, formerly known as Springwoods Village, located along Interstate 45, is also the site of the 3 million SF global headquarters of Exxon Mobil.

“When we took over leasing, we conducted a thorough analysis of the property’s fundamentals and how they aligned with the qualities headquarters-users were actively seeking, access to talent, regional connectivity, infrastructure reliability and high-quality space,” said Kristen Baker.

The new leases were executed added tenants including DSV, Iron Oak Energy Solutions, Enerflex and TETRA Technologies (reported in December), and two additional undisclosed headquarters tenants. Newmark Executive Managing Director Joshua Brown and Associate Director Adam Grimm represented Enerflex in its lease, while Rich Pancioli of CBRE represented DSV and Anthony Squillante and Josh Morrow of Avison Young represented Iron Oak Energy Solutions.

The 10000 Energy Drive building, which has 563,716 SF, is now 90% leased. Built in 2014 as the headquarters for Southwestern Energy, the tower is classified as a “Class AAA” building by Newmark.

Said Anthony Squillante of Avison Young: “The building’s rich amenity base coupled with it being accessible to employees coming from both Houston and The Woodlands drove our client’s decision to pursue space in the building.”

While overall leasing activity in Houston has moderated, demand continues to concentrate in top-tier assets, Newmark Research reported. Class A properties accounted for 66% of leasing volume in the first quarter of 2026 despite representing a smaller share of total transactions, underscoring the continued strength of the market’s flight-to-quality trend. As occupiers increasingly prioritize workplace experience, operational efficiency and talent accessibility, well-positioned trophy assets in leading suburban locations are slated to continue outperforming.

Citywide, for all classes,the Houston office market has a vacancy rate of 25%, as stated by CBRE.

The 2,000-acre City Place is about 25 miles north of downtown Houston near I-45, the Hardy Toll Road, and the Grand Parkway. City Place was developed by CDC Houston, a subsidiary of Coventry Development Corporation of New York.

In 2022, Exxon Mobil relocated its headquarters from the Dallas suburb of Irving to City Place in Houston, which is known as the Energy Capital of the World.

In 2024, Chevron moved its corporate headquarters from California to downtown Houston, including office space that was originally occupied by Enron.