Tech Space

Recently renovated Downtown Houston office space snags leases from 2 tech companies

Main&Co's office space is now 100 percent leased. Courtesy of Main&Co

Two tech-focused companies moved into a newly developed office space in downtown Houston at the intersection of Main Street and Commerce Street. One company relocated its Houston office, and the other company has expanded to the city for the first time.

Oil and gas AI-enabled analytics platform, Ruths.ai relocated its downtown office to Main&Co, located at 114 Main St. The company has 8,457 square feet of office space in the recently renovated historic building.

Meanwhile, global robotics process automation company UiPath has expanded to build a Houston team. The computer software company is based in New York, but has a presence in 18 countries. The company's office has 5,187 square feet of Main&Co's office space.

The two leases account for 100 percent of the office space in the mixed-use facility, which is owned by Houston-based investment firm, NewForm Real Estate. The company does have 1,136 square foot street-level retail space left yet to rent.

The five-story development completed renovations in the summer of last year and has, in addition to the office space, bars — including The Cottonmouth Club, ETRO Nightclub and Lilly&Bloom — and a contemporary art gallery on the fifth floor called the LCD Gallery.

"Main&Co has become a bustling epicenter of culture, arts, nightlife, and commerce in Downtown Houston," says Dan Zimmerman, president of NewForm Real Estate, in a release. "Restoring these iconic historic buildings and leasing the office space to cutting-edge tech firms is a testament that landmark real estate has a place in the future landscape of our city."

Last week, Greenway Plaza announced three different tech organizations that are moving to or had moved to its office park. Those transactions accounted for over 20,000 square feet of space.

Recently renovated

Courtesy of Main&Co

The renovation of the structure concluded in June of 2018.


The funds will go toward bringing a new, pre-accelerator program to Houston. Shobeir Ansari/Getty Images

Houston has yet again attracted a nationally recognized accelerator program to downtown. Wisconsin-based genera8tor has announced its plans to launch its pre-accelerator program, gBETA, in Houston in spring of next year thanks to a $1.25 million grant approved by the Downtown Redevelopment Authority.

"With gener8tor joining nonprofit global accelerator MassChallenge in Downtown, the Houston innovation ecosystem will be home to two nationally ranked accelerators," says Bob Eury, president of Central Houston and the Downtown Redevelopment Authority, in a news release. "This agreement furthers Central Houston's long-term goal to create a collaborative Innovation District within Downtown and helps bridge the gap between small local startups and the city's growing innovation economy."

The grant will not exceed $1.25 million and will be paid out over the next five years. Gener8tor will have two gBETA cohorts a year, and the seven-week program will have a max of five teams across industries. The program will be equity-free and at no cost to participants accepted into the program. The program will also host six lunch-and-learn events that will be free and open to the Houston innovation ecosystem.

"The city of Houston's leadership is supporting its community members to be the economic drivers of tomorrow," says Abby Taubner, partner at gener8tor and managing director of gBETA, in the release. "We are humbled and excited to be part of the palpable excitement surrounding the local startup ecosystem, and cannot wait to roll up our sleeves and get to work."

According to gener8tor, a third of gBETA graduates will advance to a later stage equity-based accelerator program or raise a seed round of at least $50,000, and gBETA graduates from across the organization's eight states have collectively raised $57.7 million and created 716 jobs.

This announcement comes on the heels of MasChallenge Texas launching its Houston program earlier this year, as well as Silicon Valley's Plug and Play Technology Center entering the Houston market as well this year. Houston's downtown landscape has become a major hotbed for tech and innovation, with UiPath opening a major Houston office and coworking space popping up across downtown.

"Innovation is the next economic frontier for Houston, and gener8tor's gBETA program will help bridge the gap between the city's legacy industries—energy, medicine, space exploration and the port—and our growing innovation ecosystem of startup accelerators, investors and entrepreneurs," says Mayor Sylvester Turner in the release. "gBETA is the latest leap into that future, following in the exciting footsteps of The Ion innovation hub; the relocation or expansion of Silicon Valley firms to Houston such as Bill.com, UiPath and Google Cloud; the plans for the Texas Medical Center's TMC3 translational research commercialization campus; and so much more."