on the move

Prominent chemical company commits to CityCentre's new office tower

CityCentre Six will open in 2026

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.”

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

CityCentre Six groundbreaking Midway executives celebrate the groundbreaking of CityCentre Six.Courtesy of Midway

“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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This article originally appeared on our sister site, Energy Capital HTX.

business high-rises

rent report

2 Houston suburbs had the priciest rents in the metro in November

Photo by Jeswin Thomas on Unsplash

Asking rent for a single-bedroom apartment in Houston came out to $1,210 in November, Zumper said.

After American shoppers spent $11.5 billion on Black Friday this year, it's safe to say everyone is watching their wallets this holiday season, including renters. And a new Zumper report is shedding light on the Houston-area cities that are shelling out the most for their rent.

The report analyzed active listings from the previous month across all cities in the Houston metro. It tracked the most and least expensive rent prices for one- and two-bedroom apartments, and determines the cities with the fastest growing rents. Listings were aggregated by city to calculate median asking rents.

Sugar Land had the highest rent prices in the Houston area in November, the report found. The median rent price for a single-bedroom apartment came out to $1,480 last month. That's $30 higher than the median asking rent for the same apartment in June.

For two-bedroom units, median rent prices in Sugar Land rose 4.3 percent from October to $1,940.

Pearland had the second-highest rents in the metro last month. Single-bedroom units had a median asking price of $1,370 per month, while two-bedroom units had a $1,700 price tag in November.

Residents in both Pearland and Sugar Land are expected to spend more than $3,100 on their holiday presents this year, a recent WalletHub study revealed, which means they may be keeping a closer eye on their budgets than other Houston-area residents.

Meanwhile, Houston proper had the third-priciest asking rents in the entire metro area in November. Median asking rent for a one-bedroom unit totaled $1,210 in November, and two-bedroom units had a $1,480 price tag.

These are the median rent prices for one- and two-bedroom apartments around Houston:

League City – $1,180 for one-bedroom units; $1,410 for two-bedroom units
Spring – $1,170 for one-bedroom units; $1,530 for two-bedroom units

Houston-area cities with affordable rent compared to the statewide median
Zumper found the statewide median rent for a one bedroom apartment came out to $1,126 last month.

Huntsville, a city 70 miles north of Houston, had the most affordable rent for a one-bedroom unit in the region, with median prices adding up to $880. The report also found that Huntsville's single-bedroom rent costs are surprisingly 6 percent more expensive than they were a year ago. However, the median cost for a two-bedroom unit in Huntsville – $1,000 – is the same asking price as it was in November 2024.

Six more Houston-area cities had more affordable single-bedroom rent prices than the statewide median:

Galveston – $1,110
Conroe – $1,100
Baytown – $1,000
Lake Jackson – $920
Pasadena – $910
Texas City – $890

rent rent prices real estate housing report houston