Developer delivers 120,000-square-foot life science innovation hub to The Woodlands

now open

The Alexandria Center for Advanced Technologies at The Woodlands is open for business. Rendering courtesy of Alexandria Real Estate Equities

A new innovation hub mega campus has opened in The Woodlands.

The Alexandria Center for Advanced Technologies at The Woodlands comes courtesy of California-based Alexandria Real Estate Equities Inc. The campus is home to the first purpose-built, cost-effective Class A laboratory infrastructure in the Houston suburb.

The campus takes advantage of Alexandria’s cluster model, which is informed by the cluster theory of business created by Harvard Business School’s Michael E. Porter. The belief behind the cluster is that there are four critical drivers necessary to creating a thriving business cluster: location, innovation, talent and capital. With nearly three decades of creating such STEM ecosystems, Alexandria is well positioned to grow something important in The Woodlands.

The campus’ first building is a 123,392-square-foot, LEED Gold Core and Shell, and Fitwel-certified redevelopment project. One of the initial tenants in that building is Nurix Therapeutics, a San Francisco-based clinical-stage biopharmaceutical company.

“We have had an outstanding strategic relationship with Alexandria since 2014 and approached them to support our expansion to Texas,” Arthur T. Sands, MD, PhD, president and chief executive officer of Nurix said in a press release. “The Woodlands offers us a business-friendly, entrepreneurial environment that is critical to our growth. Alexandria’s thoughtfully designed new campus provides us with state-of-the-art laboratory space and dynamic amenities that are key to helping us attract and retain top talent as we work to change the future of medicine through an exciting new modality of treating disease: targeted protein modulation.”

Nurix’s focus is treating cancer and other challenging diseases using protein modulation. Its expansion to the Houston area will help the company to build both proprietary and partnered programs in oncology as well as autoimmune and inflammatory diseases.

“Our efforts in The Woodlands are much like when we entered New York City, where commercial life science was very limited before we opened our flagship Alexandria Center for Life Science – NYC in 2010,” Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments, says in a news release. "We are similarly committed to developing a commercial life science presence in The Woodlands.

"Steve Jobs once said, ‘the biggest innovations of the twenty-first century will be at the intersection of biology and technology,’ and his prediction has come to fruition," Marcus continues. "Here in The Woodlands, this important convergence will drive opportunities to accelerate the development of new medicines to benefit patients."

Care for a round of pickleball with a colleague? The Alexandria Center for Advanced Technologies campus is replete with appealing with amenities. They indeed include onsite pickleball courts, but also modern conference and event space; an large, welcoming courtyard and event lawn; and a wellness and fitness center so innovators can keep their bodies as healthy as their minds.

With the objective of further driving this STEM ecosystem, the company is also bringing the Alexandria Seed Capital Platform to The Woodlands. The nationwide platform unites leaders from across the life science community to catalyze early-stage investment in life science companies. If Alexandria’s goals come to fruition, more medical companies may soon be heading to Houston’s ‘burbs.

The Alexandria Center for Advanced Technologies at The Woodlands

  

Image courtesy of Alexandria Real Estate Equities

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Texas plugs in among states at highest risk for summer power outages in 2025

hot, hot, hot

Warning: Houston could be in for an especially uncomfortable summer.

A new study from solar energy company Wolf River Electric puts Texas at No. 2 among the states most at risk for power outages this summer. Michigan tops the list.

Wolf River Electric analyzed the number of large-scale outages that left more than 5,000 utility customers, including homes, stores and schools, without summertime electricity from 2019 to 2023. During that period, Texas experienced 7,164 summertime power outages.

Despite Michigan being hit with more summertime outages, Texas led the list of states with the most hours of summertime power outages — an annual average of 35,440. That works out to 1,477 days. “This means power cuts in Texas tend to last longer, making summer especially tough for residents and businesses,” the study says.

The Electric Reliability Council of Texas (ERCOT), which operates the electric grid serving 90 percent of the state, predicts its system will set a monthly record for peak demand this August — 85,759 megawatts. That would exceed the current record of 85,508 megawatts, dating back to August 2023.

In 2025, natural gas will account for 37.7 percent of ERCOT’s summertime power-generating capacity, followed by wind (22.9 percent) and solar (19 percent), according to an ERCOT fact sheet.

This year, ERCOT expects four months to surpass peak demand of 80,000 megawatts:

  • June 2025 — 82,243 megawatts
  • July 2025 — 84,103 megawatts
  • August 2025 — 85,759 megawatts
  • September 2025 — 80,773 megawatts

One megawatt is enough power to serve about 250 residential customers amid peak demand, according to ERCOT. Using that figure, the projected peak of 85,759 megawatts in August would supply enough power to serve more than 21.4 million residential customers in Texas.

Data centers, artificial intelligence and population growth are driving up power demand in Texas, straining the ERCOT grid. In January, ERCOT laid out a nearly $33 billion plan to boost power transmission capabilities in its service area.

Houston ranks among top 5 cities for corporate HQ relocations in new report

h-town HQ

The Houston area already holds the title as the country’s third biggest metro hub for Fortune 500 headquarters, behind the New York City and Chicago areas. Now, Houston can tout another HQ accolade: It’s in a fourth-place tie with the Phoenix area for the most corporate headquarters relocations from 2018 to 2024.

During that period, the Houston and Phoenix areas each attracted 31 corporate headquarters, according to new research from commercial real estate services company CBRE. CBRE’s list encompasses public announcements from companies across various sizes and industries about relocating their corporate headquarters within the U.S.

Of the markets included in CBRE’s study, Dallas ranked first for corporate relocations (100) from 2018 to 2024. It’s followed by Austin (81), Nashville (35), Houston and Phoenix (31 each), and Denver (23).

According to CBRE, reasons cited by companies for moving their headquarters include:

  • Access to lower taxes
  • Availability of tax incentives
  • Proximity to key markets
  • Ability to support hybrid work

“Corporations now view headquarters locations as strategic assets, allowing for adaptability and faster reaction to market changes,” said CBRE.

Among the high-profile companies that moved their headquarters to the Houston area from 2018 to 2024 are:

  • Chevron
  • ExxonMobil
  • Hewlett-Packard Enterprise
  • Murphy Oil

Many companies that have shifted their headquarters to the Houston area, such as Chevron, are in the energy sector.

“Chevron’s decision to relocate its headquarters underscores the compelling advantages that position Houston as the prime destination for leading energy companies today and for the future,” Steve Kean, president and CEO of the Greater Houston Partnership, said in 2024. “With deep roots in our region, Chevron is a key player in establishing Houston as a global energy leader. This move will further enhance those efforts.”

According to CBRE, California (particularly the San Francisco Bay and Los Angeles areas) lost the most corporate HQs in 2024, with 17 companies announcing relocations—12 of them to Texas. Also last year, Texas gained nearly half of all state-to-state relocations.

In March, Site Selection magazine awarded Texas its 2024 Governor’s Cup, resulting in 13 consecutive wins for the state with the most corporate relocations and expansions.

In a news release promoting the latest Governor’s Cup victory, Gov. Greg Abbott hailed Texas as “the headquarters of headquarters.”

“Texas partners with the businesses that come to our great state to grow,” Abbott said. “When businesses succeed, Texas succeeds.”

CBRE explained that the trend of corporate HQ relocations reflects the desire of companies to seek new environments to support their goals and workforce needs.

“Ultimately, companies are seeking to establish themselves in locations with potential for long-term success and profitability,” CBRE said.

SpaceX test rocket explodes in Texas, but no injuries reported

SpaceX Update

A SpaceX rocket being tested in Texas exploded Wednesday night, sending a dramatic fireball high into the sky.

The company said the Starship “experienced a major anomaly” at about 11 pm while on the test stand preparing for the 10th flight test at Starbase, SpaceX’s launch site at the southern tip of Texas.

“A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,” SpaceX said in a statement on the social platform X.

CEO Elon Musk ’s SpaceX said there were no hazards to nearby communities. It asked people not to try to approach the site.

The company said it is working with local officials to respond to the explosion.

The explosion comes on the heels of an out-of-control Starship test flight in late May, which tumbled out of control. The FAA demanded an investigation into the accident.

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