Austin-based Firmspace opened its Houston location last year. Courtesy of Firmspace

Before the pandemic, Houston coworking demand mirrored that of the rest of the country: shared space was booming, new operators were opening up. Demand was growing in Houston, as it was in other markets.

When the pandemic arrived in Houston last spring, the city was hit with a crisis on two fronts: local public health challenges due to the arrival of COVID-19 were further complicated by a downturn in the price of oil and gas industry — the literal fuel of this city's dominant industry.

But coworking hasn't faded away as office spaces closed or reduced capacity – it's evolved. In fact, the ongoing pandemic has accelerated this changing space and pushed operators to adapt their offerings to meet the market's needs. The result in Houston is the emergence of three major trends that we expect to see persist beyond 2021.

Increased demand for private offices

According to a recent report from JLL, up to 70 percent of all office spaces were primarily or partially open plan in design by the first quarter of 2020. But few of us want to sit in an open plan office with a dozen other masked professionals while fielding Zoom calls, but working from home isn't an option for those who lack the space and privacy they need to effectively work from home.

This combination of pandemic-related stressors has driven more Houstonians to seek out private office space for rent. The basic requirements in the pandemic era look slightly different than what we might have observed a year ago. Professionals want:

  • Private office spaces with doors that close and lock
  • Walls that provide privacy and noise insulation
  • Secure IT infrastructure, chiefly high-speed internet access
  • Enhanced cleaning protocols in common spaces and high-touch areas
  • Closed ventilation loops and as much clean air piped in from the outdoors as possible

And coworking spaces are doing their best to deliver this calm, safe environment where busy professionals can come to do focused work.

More short-term arrangements

The future has never looked more uncertain to professionals and leadership in all sectors. Here at the end of 2020, many companies that have paid nearly nine months of rent on office space that they've been unable to safely use are weighing the benefits of breaking their years-long commercial leases.

Companies are not sure what the structure of their teams will be in three months, nevermind three years, and this is changing how leaders think about their real estate contracts. In this climate, many are turning to coworking spaces that offer six- and 12-month contracts with furnishes and IT infrastructure in place to lighten their financial commitments to physical spaces.

The other trend in short-term leasing that local coworking spaces have embraced is the day office. Given that many of us are planning to work at least part-time from our home offices for the near future, coworking spaces have spotted the opportunity to offer a pay-per-day model to engage professionals that only need a break from the home office one or two days a week.

A private office as a status symbol

The office used to be where we went to get away from home five days a week. For members of traditional coworking spaces in the startup and tech industries, the office often felt like an incubator where spontaneous connections happened.

But in light of the pandemic, private office space has become a refuge where professionals go to feel safe, achieve focused work, and execute sensitive tasks with assurance that they have a level of privacy that can't be achieved at home.

Whether you're looking to speak with clients or prospective employees remotely, private office space and polished meeting rooms have also come to be a status symbol. A video call with chic design elements visible in the background of their office space communicates something powerful – the people in those chairs are invested in the time they spend at work.


Moving into 2021, Houstonians are ready to return to work. Even before the pandemic arrived, commercial real estate was beginning to see that the future of work will be more flexible and more often remote than it was in the past. While we're not through this crisis yet, many professionals are already looking for a new kind of private office arrangement, and local coworking operators are working to deliver the space these Houstonians need.

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Anish Michael is the CEO of Austin-based Firmspace, which has a 32,000-square-foot space in BBVA Compass Plaza in Houston.

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Houston brain health co. secures $6.5M for rare disease study

neuro funding

Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.