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Commercial Real Estate

Michael Dardick Hands Off the Reins at Granite Properties

The founder is stepping into an executive chairman role; Will Hendrickson will take over as the company’s new CEO.
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Michael Dardick, left, and Will Hendrickson of Granite Properties

Granite Properties is getting a new chief executive. The company has announced that Will Hendrickson, who currently serves as senior managing director, will step up to lead day-to-day operations at the start of the year. Founder and CEO Michael Dardick will transition to an executive chairman role.

The move comes after a “long and thoughtful” succession process, Dardick said. “Will is a trusted leader and the right person to effectively guide Granite forward,” he said. “He has a proven record of growing our Dallas platform and brings a breadth of skillsets important to Granite’s future. Elevating and realigning our leadership team with Will at the helm is the key to our continued success for the next 30-plus years.”

Hendrickson joined Granite two decades ago as an investment analyst. After climbing the ladder in various investment-related posts, he was named head of the Dallas office in 2017. He has driven growth in the local market and overseen the development of three significant office projects in Uptown, Plano, and Southlake, as well as the acquisition of the McKinney & Olive office tower. He serves on the boards of NAIOP NTX and The Real Estate Council.

Other C-Suite Moves

As part of the restructuring, Granite announced other C-Suite moves. Bill Brown, currently chief investment officer, will be promoted to President while continuing his CIO work. Paul Bennett, currently senior director of investments, will be promoted to senior managing director and the Dallas market leader, succeeding Hendrickson. 

Additionally, Jason Purvis, currently senior managing director and the Southern California market leader, will add responsibilities as head of capital raising. The firm’s capital activities will be consolidated under CFO Ace Roman, to whom Purvis will report. 

Greg Fuller, Scott Martin, and Sheryl Troiani will continue to serve as chief operating officer, executive managing director, and chief administrative officer, respectively.

Granite Properties currently owns 12 million square feet of office space in Dallas, Houston, Atlanta, Denver, Southern California, Boston, and Nashville. It has transacted more than $10.3 billion in real estate deals and built or acquired 30 million square feet of space.

Dardick, who founded Granite in 1991 with backing from the Shusterman family, was named D CEO’s Commercial Real Estate Executive of the Year in 2016 for his business accomplishments and people-centric leadership style. “It’s an honor to work with such talented and dedicated people every day,” he said. “I’m proud of what we’ve achieved together navigating the ever-evolving real estate industry.”

Author

Christine Perez

Christine Perez

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Christine is the editor of D CEO magazine and its online platforms. She’s a national award-winning business journalist who has…

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