Doug Agarwal

Agarwal’s Capital Commercial Investments has been on a tear of scooping up mostly vacant suburban campuses with ambitious plans to revitalize them. 

The company bought American Airlines’ former headquarters at the south end of DFW International Airport in 2020. In 2021, the firm bought the 1.8 million-square-foot Legacy business park campus in Plano originally built for JCPenney in the early 1990s. The following year, CCI picked up Exxon Mobil’s headquarters with plans to transform the 290-acre campus built in 1996 into a master-planned community. 

Lately, CCI has been one of the most active office buyers in Texas, taking advantage of the office market slump with a bet that it can fill a niche as a “moderately priced provider of high-quality office space,” Agarwal told Bisnow in 2022. In early 2025, it bought the fully vacant 10-story tower at 1001 Noble Energy Way in Houston from Chevron for $18.2 million — a fraction of the $130 million the property traded for when occupancy was higher, CCI said. 

The firm reports that its annual average returns on completed investments is 26 percent. 

— Rachel Stone