Foreign investors bank on Houston as a hot commercial real estate market

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Houston's market can expect more foreign investment. Photo via Getty Images

Houston is in the midst of a residential real estate "buying bonanza." Now, a new report reveals that the Bayou City is no slouch when it comes to commercial real estate, as well.

In a recent survey released by AFIRE, an industry group for real estate investors, Houston tied for No. 14 on the list of cities favored by foreign real estate investors. Last year, Houston sat at No. 12.

Elsewhere in Texas, foreign real estate investors favored Austin over any other U.S. city for buying property in 2021. Boston ranked second, with Dallas in third place. San Antonio tied for No. 15.

In this year's survey, foreign real estate investors chose apartment buildings as their favorite property type, with warehouses landing at No. 2.

Mike McDonald, vice chairman of commercial real estate services company Cushman & Wakefield, recently told The New York Times that Austin is "the hottest market in the country right now."

"Commercial transactions are likely to pick up in the second half of 2021 and in 2022 as more people get vaccinated, more businesses operate at higher capacity, personal leisure and business travel pick up, and consumer spending rises," the National Association of Realtors noted in a first-quarter report about Austin's commercial real estate market.

Speaking of the Capital City, this is the first time in the 30-year history of the AFIRE survey that a city as small population-wise as Austin has topped the list or even showed up in the top three. Twenty-three percent of those questioned in the survey put Austin in the No. 1 spot, and 33 percent ranked Austin first, second, or third.

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This article originally ran on CultureMap.

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Top Houston startups, innovators win big, space tech rolls out rover, and more trending news

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Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included the announcement of the Houston Innovation Awards winners, Intuitive Machines rolling out its rover, and more.

2024 Houston Innovation Awards winners named at annual event

This year's award recipients span industries and technologies. Photos courtesy

Houston innovators — the moment you've been waiting for. The winners of the 2024 Houston Innovation Awards were named at the annual event.

The Houston Innovation Awards honored over 40 finalists across categories, naming the 12 winners and honoring the two Trailblazer Legacy Awards at the event. Click here to see the winners.

Photos: Houston Innovation Awards celebrates city's startup, tech leaders at annual event

Over 500 members of Houston's innovation community showed up to celebrate the best and brightest of the ecosystem. Photo by Emily Jaschke/InnovationMap

The 2024 Houston Innovation Awards season has come to a close with last week's event.

With a crowd of around 500 attendees, the Houston Innovation Awards, which took place on November 14, celebrated over 40 finalists and a dozen winners across categories. Click here to view photos from the event.

Houston space tech co. rolls out futuristic lunar rover for NASA's Artemis missions

Intuitive Machine unveiled its RACER lunar terrain vehicle at Space Center Houston. Photo courtesy of Intuitive Machines

Houston-based space exploration company Intuitive Machines just unveiled its version of a lunar terrain vehicle that’s designed to be used by astronauts in NASA’s Artemis moon discovery program.

Intuitive Machine recently rolled out its RACER lunar terrain vehicle (LTV) at Space Center Houston. RACER stands for Reusable Autonomous Crewed Exploration Rover. Click here to continue reading.

Houston accelerator names inaugural cohort to propel digital transformation in energy

The NOV Supernova Accelerator will work to cultivate relationships between startups and NOV. Photo via Getty Images

Houston-based Venture Builder VC has kicked off its NOV Supernova Accelerator and named its inaugural cohort.

The program, originally announced earlier this year, focuses on accelerating digital transformation solutions for NOV Inc.'s operations in the upstream oil and gas industry. It will support high-potential startups in driving digital transformation within the energy sector, specifically upstream oil and gas, and last five months and culminate in a demo day where founders will present solutions to industry leaders, potential investors, NOV executives, and other stakeholders. Click here to continue reading.

2 Houston health innovation leaders award grants to cancer-fighting researchers

The Cancer Bioengineering Collaborative announced the projects that were selected for its first round of seed grants. Photo via Rice.edu

Five cancer-fighting research projects were named inaugural recipients of a new grant program founded by two Houston institutions.

Last summer, Rice University and The University of Texas MD Anderson Cancer Center announced they were teaming up to form the new Cancer Bioengineering Collaborative. The shared initiative, created to form innovative technologies and bioengineering approaches to improve cancer research, diagnosis and treatment, recently launched with an event at the TMC3 Collaborative Building in Helix Park. Click here to continue reading.

West Coast innovation organization unveils new location in Houston suburb to boost Texas tech ecosystem

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Leading innovation platform Plug and Play announced the opening of its new flagship Houston-area location in Sugar Land, which is its fourth location in Texas.

Plug and Play has accelerated over 2,700 startups globally last year with corporate partners that include Dell Technologies, Daikin, Microsoft, LG Chem, Shell, and Mercedes. The company’s portfolio includes PayPal, Dropbox, LendingClub, and Course Hero, with 8 percent of the portfolio valued at over $100 million.

The deal, which facilitated by the Sugar Land Office of Economic Development and Tourism, will bring a new office for the organization to Sugar Land Town Square with leasing and hiring between December and January. The official launch is slated for the first quarter of 2025, and will feature 15 startups announced on Selection Day.

"By expanding to Sugar Land, we’re creating a space where startups can access resources, build partnerships, and scale rapidly,” VP Growth Strategy at Plug and Play Sherif Saadawi says in a news release. “This location will help fuel Texas' innovation ecosystem, providing entrepreneurs with the tools and networks they need to drive real-world impact and contribute to the state’s technological and economic growth."

Plug and Play plans to hire four full-time equivalent employees and accelerate two startup batches per year. The focus will be on “smart cities,” which include energy, health, transportation, and mobility sectors. One Sugar Land City representative will serve as a board member.

“We are excited to welcome Plug and Play to Sugar Land,” Mayor of Sugar Land Joe Zimmerma adds. “This investment will help us connect with corporate contacts and experts in startups and businesses that would take us many years to reach on our own. It allows us to create a presence, attract investments and jobs to the city, and hopefully become a base of operations for some of these high-growth companies.”

The organization originally entered the Houston market in 2019 and now has locations in Bryan/College Station, Frisco, and Cedar Park in Texas.

Uniquely Houston event to convene innovation experts across aerospace, energy, and medicine

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Every year, Houston's legacy industries — energy, medicine, and aerospace — come together to share innovative ideas and collaborate on future opportunities.

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. The hosting organization, also called Pumps & Pipes, was established in 2007 in Houston and is dedicated to fostering collaboration amongst the city's three major industries.

With NASA in its backyard, the world’s largest medical center, and a reputation as the “Energy Capital of the World,” Houston is uniquely positioned to lead in cross-industry convergence innovation and is reflected in the theme of this year’s event – Blueprint Houston: Converge and Innovate.

Here's what you can expect to explore at the event, which will take place this year on December 9 at TMC Helix Park. Tickets are available online.

The state of Texas’ aerospace investments

How are the recent strategic investments in aerospace by the State of Texas transforming the space economy and driving growth in adjacent industries? What is the case for cultivating a more dynamic and vibrant aerospace R&D environment?

These are the key questions explored in the opening session of Pumps & Pipes, moderated by David Alexander (Director, Rice Space Institute). Joining the discussion are distinguished leaders Norman Garza, Jr., Executive Director of the Texas Space Commission (TSC); as well as two members of the TSC board of directors: Sarah “Sassie” Duggelby, CEO/Co-Founder of Venus Aerospace; and Kathryn Lueders, GM at Starbase, SpaceX.

This panel will spotlight Texas’ critical role in shaping the future of aerospace, with a focus on its cross-sector impact, from space exploration to innovation in energy and health care. We’ll explore how the state’s investments are fueling research and development, creating economic opportunities, and fostering a more interconnected, high-tech ecosystem for the future.

Real-world applications of robotics and synthetic biology

Explore the groundbreaking intersection of syntheticbiology and robotics as they reshape industries from aerospace to energy to health care. Experts from academia and industry — Rob Ambrose of Texas A&M University, Shankar Nadarajah of ExxonMobil, Shalini Yadav of the Rice Synthetic Biology Institute, and Moji Karimi of Cemvita — will discuss the real-world applications and future possibilities of these two fields, including innovative uses of robotics and drones to monitor emissions from deep-sea oil rigs, and synthetic microbes that convert carbon dioxide into valuable chemical products.

Discover how synthetic biology and robotics are paving the way for a more sustainable, autonomous, efficient, and interconnected future.

The total artificial heart – a uniquely Houston story

Heart failure affects millions globally, yet only a small fraction of patients receive life-saving heart transplants. The Total Artificial Heart (TAH), developed by BiVACOR, offers a revolutionary solution for patients with severe heart failure who are ineligible for a transplant.

Luminary leader, Dr. Billy Cohn, will discuss the groundbreaking BiVACOR TAH, a device that fully replaces the function of the heart using a magnetically levitated rotary pump. This innovative approach is part of an FDA-approved first-in-human study, aiming to evaluate its use as a bridge-to-transplant for patients awaiting heart transplants.

Moderated by Dr. Alan Lumsden (Chair Dept. of CV Surgery at Houston Methodist Hospital), join Dr. Cohn as he shares insights, and the story-behind, this pioneering technology and its potential to reshape the future of heart failure treatment, offering new hope to thousands of patients in need.