search

The Real Deal Logo

Trending

NYCB loan defaults surge 400% as rent-stabilized buildings bleedNYCB loan defaults surge 400% as rent-stabilized buildings bleedEast Capital adds to industrial portfolio with $18M complex near MedleyEast Capital adds to industrial portfolio with $18M complex near MedleyWhole new world: How NYC values 421a, 485x sites nowWhole new world: How NYC values 421a, 485x sites nowWhy the Barry Drillman case is such a big dealWhy the Barry Drillman case is such a big deal
Commercial
Houston

Five-month-old crypto company signs lease in one of Houston’s oldest buildings

The Heights Clock Tower has been standing since 1894 and was converted into office space a little over a year ago.

611 West 22nd Street (Photo via Patrick Feller/Flickr)
611 West 22nd Street (Photo via Patrick Feller/Flickr)

The Heights’ 128-year-old clock tower has a new tenant— a 5-month-old natural gas crypto company.

Eleox CEO Kirk Coburn (RocketReach)

Eleox, a Houston-based software company, just signed a lease for a 4,300-square foot office space in the Heights Clock Tower, according to The Leader News. Spanning more than 107,000 square feet, 611 West 22nd Street is valued at more than $7.1 million, according to the Harris County Appraisal District.

Built in 1894, the clock tower is one of Houston’s oldest buildings and has been listed on the National Register of Historic Places since 1983. The historic building is located in one of Houston’s fastest changing neighborhoods, the Heights.

The community landmark was bought by Heights-based developer Radom Capital in 2020. Under Radom’s ownership, it was converted into office space with outdoor communal areas and walkable access to nearby restaurants.

Its latest tenant, Eleox, was started in November as a joint venture between six natural gas companies— BP, Castleton Commodities International, Koch Energy, Macquarie Group, Mercuria Energy America and Shell.

Sign Up for the undefined Newsletter

Read more

“This is the perfect spot to inspire creativity for our team as well as a great location to recruit from the area’s diverse, educated talent pool,” said Eleox CEO Kirk Coburn in an announcement released by JLL, who represented the tech company in the deal.

“Our mission is to transform the established commodity trading industry by bringing the possibilities of web3 technology, and we feel that this creative space in the Heights provides a recruiting advantage in the battle for talent,” said Coburn.

Web3 is the idea for a new internet service built with decentralized blockchains, similar to those used by cryptocurrencies.

“While we are focused on natural gas today, we have ambitions to expand into power and to build a platform to track carbon emissions data across a range of commodities, from the source to the end user,” Eleox says on its website.

“Our vision is to support broader energy markets and the transition to a lower carbon future.”

[The Leader News] — Maddy Sperling

Tags
LeasesOffice SpaceThe Heights