Spear Street Capital, a San Francisco-based real estate investment company, has purchased the former ExxonMobil campus at 3120 Buffalo Speedway in Houston in order to develop a major mixed-use project. Currently, the 16.88-acre infill tract supports a 350,000-square-foot office building that had housed ExxonMobil's upstream research campus since the 1950's. Spear Street Capital plans to redevelop the site for office, retail and urban residential use.
Jarrar & Co., a Houston-based plumbing and utility contracting company, has acquired 23.38 acres in northwest Houston from a private family trust. The site is located at 7810 Fairbanks St. across the street from Reed Elementary School. Jarrar plans to develop 40 light industrial buildings on the tract ranging in size from 5,400 to 12,000 square feet. Brent Fredricks and Bob Gulley of Moody Rambin represented the seller in negotiations.