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Dow digs up new office space in Houston's Energy Corridor

Dow will occupy nearly two-thirds of office space at Midway's CityCentre Six office tower that's currently being built in the Energy Corridor. Photo courtesy of Midway

Dow Chemical has signed up to be the anchor tenant at the CityCentre Six office tower under construction in Houston’s Memorial City area.

Dow will occupy nearly two-thirds (65 percent) of the 308,000 square feet of office space at the 19-story building, or about 200,000 square feet. The company will relocate employees there from its Houston Dow Center offices at Enclave Plaza in the Energy Corridor.

The current lease expires in 2026. Dow has leased the Energy Corridor space for 15 years.

Houston-based real estate investor and developer Midway recently broke ground on the $87.5 million, 320,000-square-foot CityCentre Six tower, which will be adjacent to the headquarters of Marathon Oil.

“Dow’s commitment as the anchor tenant has been a driving force behind the project’s strong momentum and underscores the strong leasing demand for CityCentre office space, which remains 100 percent leased,” says Chris Seckinger, vice president of investment and development at Midway. “Their presence not only confirms the tower’s status as a premier business destination but also reflects the confidence leading enterprises have in our vision for the district.”

Photo courtesy of Midway

The new tower, set to be completed in 2026, is one of the latest additions to the 47-acre CityCentre mixed-use development.

“Our plans for CityCentre’s north site have been in the works for almost a decade, and CityCentre Six is a significant step towards realizing our long-term vision for the development,” Seckinger said in a January 2024 news release.

Midway’s CityCentre Seven, a six-story office building and hotel, is also under construction at the mixed-use development. The Four Points by Sheraton Houston West hotel currently occupies the site.

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A View From HETI

CTV has announced its newest fund to deploy capital to innovative clean energy tech. Photo via Getty Images

Chevron Technology Ventures has announced its latest fund raised to deploy capital into clean energy technology.

CTV's Future Energy Fund III has reportedly launched with $500 million — an increase from its second fund from 2021 that was valued at $400 million. The inaugural Future Energy Fund was established in 2018. Each fund has targeted separate technologies — from capture, emerging mobility, and energy storage in fund I to industrial decarbonization, emerging mobility, energy decentralization, and circular economy in fund II.

"Future Energy Fund III, launched in 2024, will continue to look forward in the areas of focus for the earlier two funds and aims to expand investment in the areas of novel low carbon fuels, advanced materials, and transforming carbon to higher-value products," reads Chevron's website describing the Future Energy Funds.

The first two funds have invested in over 30 companies and has more than 250 other investors supporting low-carbon innovations.

CTV, based in Houston, has strategic partnerships with organizations within the Houston innovation ecosystem, including Greentown Labs, Rice Alliance for Technology and Entrepreneurship, the Ion, The Cannon, and the HX Venture Fund.

"CTV engages a range of startup companies, investors, incubators and accelerators to access technology that can be used across Chevron now and in the future to enable us to operate more efficiently, to lower the carbon intensity of our operations and launch viable new businesses," reads the CTV site.

Founded in 1999, CTV invests in emerging energy technologies as well as incubating startups in its Catalyst Program. Last month, CTV added Cerebre, a software-as-a-service company that works with its customers to unlock and leverage data to tap into AI tools and digitization, to the Catalyst Program.

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