ACMI Properties, a national industrial developer of mission-critical aerospace and national security facilities, announced several major milestones in the advancement of its 207-acre Exploration Park development on NASA’s Johnson Space Center in Houston, Texas.

ACMI selected Griffin Partners as a new co-development partner, Gensler as the design firm for the project, and Walter P Moore as the civil engineering firm for the pioneering campus. 

As the United States increases efforts to return to the Moon, reach Mars, and expand capabilities in orbit, the need for commercially driven innovation has never been greater. Exploration Park is being developed as the nation’s premier hub to accelerate this next era of exploration — a place where breakthrough technologies are conceived, built, and launched to support America’s leadership in space. KBR, a global leader in science, technology and engineering solutions, will serve as one of the anchor tenants at Exploration Park, establishing a strong foundation for the campus’ commercial ecosystem.

“As the number of people visiting, working, and living in space grows, much of the essential technology to enable that exploration and commerce will be born out of companies located at Exploration Park,” said Simon Shewmaker, Head of Development at ACMI Properties. “We are seeing a cascade of tenancy interest from companies and are thrilled to be working alongside Griffin Partners and leading architecture and engineering firms to bring the project to life.”

Griffin Partners, a Houston-based real estate investment firm with a national footprint and deep expertise in developing successful industrial and office projects, was selected as a strategic partner for the development at Exploration Park, bringing operational scale and precision to the delivery of aerospace, manufacturing, and science facilities.

“Exploration Park is an exciting opportunity to build a place where ideas for the future of space exploration can take shape,” said Fred Griffin, Chairman and Founder of Griffin Partners. “With ACMI and our amazing partners, we’re creating an environment where groundbreaking technologies can be developed and launched.” Travis Covington, President of Development at Griffin Partners adds, “We create spaces where innovation and collaboration can thrive. Our team is committed to turning this vision into reality by delivering best-in-class facilities that empower our partners to do their best work.”

ACMI also announced the selection of key partners for the site’s development, including world-renowned architecture, design, and planning firm Gensler and leading global engineering and consulting firm Walter P Moore as the civil engineer. Gensler brings over 60 years of design leadership and a research-driven, client-focused approach. Leveraging deep local expertise and an established relationship with NASA, Gensler delivers flexible, phased solutions that adapt to evolving requirements and advance ACMI’s strategic vision. Walter P Moore brings nearly a century of expertise designing some of the world’s most innovative structures, leveraging cutting-edge technologies essential to the success off visionary projects like Exploration Park. 

“Gensler is excited to partner with ACMI and Griffin on the vision for Exploration Park,” said Lucian Nesline, Principal at Gensler Houston. “This collaboration allows us to strategically tap into our advanced manufacturing, science and technology design expertise to help build a dynamic environment that fosters innovation in research and development.” 

“Exploration Park represents a significant step in advancing emerging technologies connected to NASA’s Johnson Space Center,” said Charlie Penland, Managing Principal at Walter P Moore. “We are excited to contribute our engineering expertise as part of this collaborative team effort to help bring ACMI’s vision to life in the Clear Lake community.”

Exploration Park is being purpose-built to be a premier hub for commercial space innovation and a global center of excellence for human spaceflight, supporting missions to Mars, the Moon, and orbit, with at least 20 build-to-suit facilities on a campus that can accommodate at least 1.5 million square feet. Designed to support R&D, labs, clean rooms, offices, and light manufacturing, the park will serve key sectors such as aerospace, advanced manufacturing, robotics, life support systems, AI and other technologies critical to human spaceflight, space commerce, and exploration. JLL’s Richard Quarles, David Holland, and Angela Watford are managing leasing efforts at Exploration Park on behalf of ACMI.

You’d think U.S. millionaires would almost always own a home. But a new study shows that a growing number of wealthy people are choosing instead to rent.

RentCafe in a recent Market Insights report said that the number of millionaire renters in the United States has more than tripled in the last five years. In 2019, there were 4,512 U.S. households earning seven figures but choosing to rent.

By 2023? That number increased significantly to 13,700 households.

RentCafe reported that southern cities are seeing the fastest growth in millionaire renters. According to the report, Houston went from seven wealthy renter households in 2019 to 179 by 2023. That represents a 25-fold increase.

In little surprise, RentCafe found that New York City boasted the greatest number of millionaire renter households in 2023, with 5,661. San Francisco came in second place with 1,411, while Los Angeles rounded out the top three with 823.

Chicago had the most millionaire renter households in the Midwest in 2023, with 382. Austin, Texas, ranked 12th on the list with 207 renter households, while Dallas ranked 14th with 185 and Houston 15th with 179.

CanTex Capital acquired a 266,200-square-foot Class-A industrial facility in Dallas.

The property, located on 20.77 acres in the Mountain Creek Industrial Business Park, reflects CanTex’s ongoing activity in the Dallas-Fort Worth market and an expansion into newer industrial product.

The facility boasts a 34-foot clear height, 3,000 amps of power, and approximately 8,000 square feet of office space. The site also features 285 parking spaces and four acres of additional land that may be used for outdoor storage or future development. It is accessible via I-20, the George Bush Turnpike, Highway 67, and Loop 12.

CanTex Capital plans to invest in property improvements, including updates to the roof, warehouse lighting, office space, new branding, and refreshed marketing materials.

CanTex Capital currently owns more than 6 million square feet of industrial assets, with a specific focus on the renovation and repositioning of these properties. As one of the most active industrial buyers in the state of Texas, the firm has 32 acquisitions on track to close by mid-year 2025.  

CanTex Capital partnered with DB9 Capital on this acquisition. DB9 isa Dallas-based private investment firm that strategically invests private, family capital in “value-add” opportunities with a focus on long-term value creation. The firm’s diverse portfolio primarily includes well-managed retail, industrial, and land assets that derive strong risk-adjusted returns.

Marcus & Millichap closed the sale of Van Alstyne Self Storage, a 92,220 rentable-square-foot storage facility on an approximately 8.72-acre lot in Van Alstyne, Texas. 

Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office and leaders of the Karr-Cunningham Storage Team, represented the seller, a local partnership. The buyer, a Dallas-based private investor, was also secured by Cunningham and Karr.   

Van Alstyne Self Storage is located at 15074 N. U.S. Highway 75. The unit mix consists of 42 climate-controlled units, 208 non-climate drive-up units, 91 covered parking spaces, 69 uncovered parking spaces and an on-site residence. Amenities include a personalized keypad-gated entrance, wide driveways, garage-style roll-up doors and an on-site manager’s residence.

North Houston’s City Place continues to evolve and is fast approaching its next major milestone as tuition-free Texas charter system Harmony Public Schools prepares to welcome approximately 430 students to the community’s inaugural school – Harmony Science Academy – City Place – on August 13. 

Construction of the first phase with classrooms initially assigned to Pre-K through sixth grade students is mostly complete with punch list items anticipated to be finalized in the next month. Future development on the 28.9-acre tract – acquired from City Place master developer CDC Houston in 2022 – include an adjacent middle and high school campus with construction commencing again in 2027. Phased openings with the addition of a new grade level each year will culminate in Harmony Science Academy – City Place’s first high school graduating class and a total enrollment of 800 students across all classes in 2032. 

Harmony Science Academy – City Place is currently accepting applications for both students and team members. Interested families and individuals can apply online at www.hsacityplace.harmonytx.org or reach out to registrar Ms. Podio at asantisteban@harmonytx.org. School tours are now underway. 

According to CDC Executive Vice President Warren W. Wilson, “The addition of Harmony Public Schools, a proven leader in STEM education and character development, is an exciting step in our evolution as a community.” 

At the helm of this new chapter is Founding Principal Elyse Pravel, whose journey with Harmony Public Schools is a full-circle story of passion, purpose and leadership. A proud Harmony alumna, Pravel has served as an intern, teacher, assistant principal, and most recently, principal resident before stepping into her current role. 

With 25 years of experience and 76 campuses statewide, Harmony is Texas’ largest and one of its longest-standing charter systems, known for a strong focus on STEM, project-based learning and character development. Harmony students consistently outperform state averages on STAAR, NWEA MAP and other key assessments, and they maintain a 100% college acceptance rate. By fostering a culture of ethical, civic-minded and compassionate behavior, Harmony supports students’ social-emotional growth alongside their academic success. As of 2024, more than half of all Harmony campuses have been designated State Schools of Character – more than any other school system in the nation. 

The new City Place campus is part of Harmony’s “A”-rated Houston North District, which has earned national recognition from U.S. News & World Report, Newsweek, and Character.org. Situated in a sustainable, pedestrian-friendly community at the axis of the Grand Parkway, I-45, and Hardy Toll Road, the campus offers students and families a vibrant, accessible environment surrounded by trails, green space, and LEED-certified infrastructure.

Following a recent successful recapitalization of One Riverway, ownership—One Riverway Venture LLC an entity controlled by Azrieli Group and Unilev Capital, professionally managed by Unilev Management Corp.—is now strategically positioned to actively pursue new leases, renewals, and tenant expansions at the 507,565-square-foot, Class A office tower in Houston’s Galleria area. The recapitalization includes a loan modification with an additional equity contribution.

The strengthened capital structure paves the way for a significant reinvestment into One Riverway. Planned improvements include common area upgrades to corridors and restrooms, full elevator modernization, and the delivery of move-in-ready spec suites tailored to meet the evolving needs of today’s office users. Located at 777 South Post Oak Lane, the 25-story office tower offers expansive views of both the Galleria and Downtown Houston. Tenants benefit from a wide range of on-site amenities, including a tech-enabled conference center, a state-of-the-art fitness facility, an on-site café, outdoor terraces, and ample garage parking.

“One Riverway is an iconic landmark office tower modernized to meet the 21st-century needs of our tenants,” said Raymond Levy, President of Unilev Capital and Unilev Management.

This news coincides with the recent engagement of Global Fund Investments (“GFI”) as the Asset Manager on Azrieli Group’s 3 million-square-foot office portfolio in Houston and Austin. GFI, a retail-focused investor with 5 million square feet of assets across five states, has partnered with Jason Presley, who has 27 years of experience in the office sector, to oversee the portfolio.

“Recapitalizing One Riverway allows us to move quickly and creatively in a dynamic leasing environment, at a time when competing projects often do not have the capital to transact,” said Jason Presley. “We’re reinvesting in these assets to ensure One and Three Riverway remain a top-tier destination for tenants in Houston’s Galleria area.”

An entity controlled by Azrieli Group and Unilev Capital also owns the neighboring Three Riverway, located at 3 Riverway Drive. Three Riverway currently has no mortgage loans and remains positioned to actively pursue new leases, renewals, and tenant expansions. Both towers offer access to modern amenities, a prime location, and a strong ownership group focused on long-term value. One and Three Riverway can accommodate office users of all sizes, from 1,086 square feet to 101,330 square feet.

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, will continue to handle the leasing for the property on behalf of building ownership. The leasing team is led by Managing Director of Office Leasing Matt Asvestas, Senior Vice President Brad Fricks, and Senior Associate Danielle Rothchild.