Emerging Software Company Leases Space at Heights Clock Tower | Business
An enterprise software company moves into a historic building in The Heights.
Eleox, a Houston-based company that aims to reinvent post-trade commodity processing in the energy sector, signed a lease for 4,300 square foot office space in Clock Tower Heights, according to a press release from the commercial real estate services company. JLL.
The Heights Clock Tower, located at 611 W. 22nd St., was built in 1894 and is listed on the National Register of Historic Places. It was purchased in late 2020 by Heights-based developer Radom Capital, who converted the property into offices with outdoor common areas and walking access to nearby restaurants.
“It’s the perfect place to inspire the creativity of our team as well as an ideal location to recruit from the region’s diverse and educated talent pool,” Eleox CEO Kirk Coburn said in the release. Press. “Our mission is to transform the established commodity trading industry by bringing the possibilities of Web3 technology, and we believe this creative space in the heights provides a recruiting advantage in the battle for talent.”
Eleox was formed last year as a joint venture between six companies that trade natural gas in North America – BP, Castleton Commodities International, Koch Energy, Macquarie Group, Mercuria Energy America and Shell. It aims to create an “enterprise-grade application based on distributed ledger technology to replace many existing siled post-trade systems with a unified, full-lifecycle platform,” according to the press release.
Web3 is the idea of a new internet service built with decentralized blockchains, similar to those used by cryptocurrencies.
“As we focus on natural gas today, we have ambitions to expand into energy and create a platform to track carbon emissions data across a range of products, from source to end user,” Eleox says on its website. “Our vision is to support broader energy markets and the transition to a low-carbon future.”
The terms of the lease were not disclosed in the press release from JLL, which represented Eleox in the transaction. Radom Capital was represented by CBRE.
The Heights Clock Tower, which has more than 107,000 square feet of built area, is valued at more than $7.1 million, according to the Harris County Assessment District.
As testified by other customers, we expect this location to become a destination for employees to live, work and play,” said Bryant Lach of JLL.
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