Celebrating Progress, Embracing the Future
INTRO
WE CREATE REMARKABLE PLACES
In 2024, we embarked on several transformative projects that underscore our dedication to Innovation and Community Enrichment through Acquisition and ground-up Development.
One of our most significant milestones was the digestion of the acquisition of Central Park Post Oak, formerly known as Post Oak Central, and CityWest, formerly known as CityWest Place, two existing institutional quality developments totaling over 3.2 million SF in Houston, Texas. This transaction, which ranked as one of the largest in the nation, showcases our capacity to undertake ventures of remarkable size and complexity.
We also made our first investment in the Texas Medical Center, the World’s largest medical center, with the acquisition of Innovation Plaza. In 4Q24 we had the opportunity to purchase a strategically located mixed-use development that currently includes a 19-story, 340-unit Medical Student Housing facility, and a 3,500-stall, 9-story
parking garage. This development, part of TAMU’s EnMED campus, offers the unique opportunity to add adjacent retail and another 250K+ SF medically related building.
2024 also marked the completion of the First Phase of East River, a pivotal moment in our efforts to transform Houston's waterfront east of Downtown into a vibrant mixed-use district. Spanning 26 acres, this Phase includes office, retail, dining, and entertainment venues, as well as over three acres of Greenspace and a Bayou Park. Reaching 95% occupancy, several office tenants have moved into their new spaces with several more coming in early ’25. Additionally, in 2024, we broke ground on Port Houston’s new 100K SF Headquarters on the Waterfront.
Also in East River, The Laura multifamily community welcomed its first tenants, and a host of new retail, dining, and entertainment establishments are set to open this summer and fall, further enhancing the live-work-play environment. East River 9, a nine-hole, par-
three golf course, and Riverhouse Houston, a family-friendly restaurant and bar, entered their second year with an enthusiastic reception.
CityCentre SIX, a 19-story, 230,000 SF Class AA office / retail building recently broke ground on the north end of this Flagship development in Houston, Texas. This new landmark will welcome its first tenants, including DOW in 1Q26.
Our work at CityWest and Century Square continues to set new standards for mixed-use environments. At CityWest, where occupancy grew to 97%, we are hoping to leverage our placemaking expertise to introduce new retail spaces and green areas, with long-term plans to integrate a boutique limited-service hotel in the near future. Meanwhile, Century Square's Phase II was completed in 4Q24, bringing exciting new tenants and community spaces that will further enhance this vibrant district.
2024 also marked the 25th anniversary of the passing of Jim Moran, Midway's founder. Jim’s legacy of vision, generosity, and dedication to the community continues to inspire us. This anniversary also corresponded with the recent remodel of The Moran Hotel – CityCentre; introducing an updated experience for this Top Rated, Travel + Leisure hotel.
As we move forward, we remain committed to our core values of passion, integrity, adaptability, innovation, quality, initiative, teamwork, generosity, and urgency. These principles guide us as we explore new opportunities, develop new relationships, and create environments that not only generate returns for our investors but also have a positive impact on our communities.
We are excited about the opportunities that lie ahead and confident in our ability to continue delivering on our Purpose – to Create Remarkable Places that Enrich Lives.
Thank you for your continued support and trust in Midway.
Brad Freels CHAIRMAN + CEO | MIDWAY
WHAT WE DO
Midway is an investment, development, and construction management firm focused on differentiated core infill real estate in mixed-use environments.
We utilize three investment strategies—develop-to-core, valueadded repositioning, and covered land opportunities—to strategically optimize the mix of location + product + experience to create remarkable places that are enduring core investments.
DEVELOP-TO-CORE
Creating core investments at a wholesale price
VALUE-ADD
Purchasing & repositioning under-performing assets into core investments
COVERED LAND
Holding generational real estate with current income for future develop-to-core investments
Investment + Development + Construction Management
Investing in generational projects that embody our investment philosophy centered around the core principles of: Location, Synergies, Experience, Differentiation, and Place.
Collaborating with cities, municipalities, and universities to structure ideal partnerships for their stated vision and goals.
Developing and redeveloping large urban mixed-use projects and establishing public + private partnerships to maximize infrastructure and green space investment.
Creating remarkable places that increase well-being and enhance performance.
Interweaving high-quality, affordable living into activated public green space, dynamic dining, retail, entertainment, work, hospitality, and world-class health and fitness.
OUR PLACES
WE CREATE COMMUNITIES, NOT COMMODITIES
Mixed Use
Integrated, comprehensive experience
Experience
Unique, urban, natural, authentic public place
Innovation
Healthy, sustainable, flexible product
Differentiation
Thoughtful, unique branded services and activations
Connectivity
Multi-modal, walkable, social community
Design
Timeless quality
OUR VALUES
INTEGRITY
Authenticity and transparency are central to our conduct; we say what we mean and honor our word.
PASSION
Passion is the fuel that drives us forward. A passionate group of people working toward common goals, we can accomplish the unthinkable.
QUALITY
We achieve quality results by planning with intention, designing with direction and effort and skillfully executing
It’s what helps us differentiate ourselves and lead the industry in designing and developing what’s next.
INITIATIVE ADAPTABILITY
We strive to make a difference, regardless of obstacles and resources.
URGENCY TEAMWORK
It starts with the people and each of our team members is vital to our overall success.
Having a sense of urgency in everything we do. We act promptly and with intention, striving to make things happen efficiently and effectively.
GRATITUDE INNOVATION
Being grateful for what we have been giving by.
We embrace creativity and forwardthinking to drive continuous improvement and deliver cutting-edge solutions.
02 MILESTONES + WINS
3M SF HOUSTON PORTFOLIO ACQUIRED
Midway in partnership with 3Edgewood and Parkway successfully acquired two significant office assets in Houston—Post Oak Central and CityWestPlace. Spanning over three million square feet, the deal marks one of the largest real estate transactions in the United States in 2023. The strength of the submarkets, institutional mix of the global tenant-base, and the redevelopment potential of Post Oak Central were contributing factors in the firm’s decision to acquire these districts.
Midway's capital market expertise, investment acumen, and reputation are the driving forces that enabled us to execute a deal of this size and complexity. Bringing our development and placemaking capabilities to the table is transformational for these two districts.
CITYCENTRE SIX
A New Office Tower Rising in Houston's Premier Mixed-Use District
Construction is underway for CITYCENTRE Six, a 19-story, 320,000 square-foot Class A office tower situated at the southern end of the CITYCENTRE north site, adjacent to Marathon Oil’s headquarters. The building is poised to be a landmark addition to Houston's premier mixed-use district and will include a new half-acre urban plaza. With 65% of its office space already leased, this development underscores the strong leasing demand at CITYCENTRE, which is currently 100% leased.
/PROJECT USES PRE-LEASED INCLUDING DEALS IN LOI NEGOTIATION 65% 95%
EAST RIVER PHASE I NOW OPEN!
/RETAIL
Rising along Buffalo Bayou, construction of East River’s first phase is complete, and excitement is building as more office, retail, dining, and entertainment venues prepare to open. East River Phase I consists of 26-acres of innovative design that will open up more than 150-acres of waterfront property and bring together dynamic mixed-use spaces and more than a mile of bayou trails. At the heart of the first phase is more than 3 acres of green space and a bayou park with a full calendar of activations that began this summer. /OFFICE
2024
2024
2024
SCENIC HOUSTON AWARD WINNER
SCENIC STAR RECEPTION EVENT THE LAURA AT EAST RIVER
DAVID HIGHTOWER, EVP | ANNA DEANS, EVP
Anton Paar Selects East River for its South Region Headquarters
Anton Paar USA, the global leader in precision instruments will soon establish its new South Region headquarters at East River. The company is renowned for its development, production, and distribution of highly precise laboratory instruments and process measuring systems, as well as providing custom-tailored automation and robotic solutions. The company plans to construct a new three-story, 30,000 square-foot facility at East River, including office space, technology, lab, training, conference facilities, and distribution and shipping.
Port Houston’s Future Unveiled: A New 95,000 SF Headquarters at East River
Midway is developing the new administrative headquarters for Port Houston at East River. The building will be comprised of more than 95,000 square feet of office space along with a dedicated parking garage and a skybridge. As one of Houston’s primary economic engines, Port Houston’s relocation to East River sets the stage for a promising future of growth, collaboration and community engagement.
Orion Group Holdings to Establish Global Headquarters at East River
East River will soon welcome Orion Group Holdings, Inc. for their 63,519 square-foot global headquarters, spanning three full floors in Buildings 1 and 2. Orion, a leader in marine and onshore specialty construction services. The new headquarters will offer flexible workspaces, advanced technology, and access to local amenities.
This new location will not only bring our teams together under one roof, but it will also provide a dynamic environment that fosters growth and creativity. As we continue to expand, this move is a key step in our strategy to attract and retain top talent here at Orion."
Travis Boone, CEO of Orion Group Holdings
THE STUDIOS AT EAST RIVER
Ownership Opportunities at East River
The Studios at East River offer businesses a unique opportunity to own their own building while benefiting from preferential tax treatment in a Qualified Opportunity Zone. The initial phase features three buildings fronting Clinton Drive, with one already sold and occupied by OJB. Currently, two 10,000 square foot Studios are available for those looking to capitalize on this exceptional ownership opportunity in the heart of East River. OFFICE BUILDINGS THREE STORIES QUALIFIED OPPORTUNITY ZONE
THE LAURA AT EAST RIVER
The Laura, a new multifamily community nestled alongside Houston’s celebrated Buffalo Bayou waterfront, has opened its doors, welcoming its first residents. This five-story, 359-apartment development merges industrial charm with modern living, offering amenities like a fitness center, pool, and retail spaces. Positioned to highlight Houston’s downtown skyline, The Laura pays tribute to the area’s industrial past while providing a gateway to the vibrant East River mixed-use hub. With a design that celebrates the area’s history and culture, The Laura offers a range of living spaces, from studios to two-bedroom units, aiming to foster a strong sense of community and belonging. The Laura also offers quality workforce housing for professionals serving the community, designed for those earning at or below 80% of the area median income.
Land Development Diagram
Development Diagram
One area that really impressed us was Midway’s stakeholder engagement process.They have the ability to go as fast as the HEDC needs. Midway invests so much in their robust planning process that once the plans are complete, the execution moves quickly.”
CHENEY GAMBOA Economic Development Director
HIGHWAY 79
HUTTO SELECTS MIDWAY FOR 250-ACRE MIXED-USE DEVELOPMENT
Hutto city leaders have unanimously chosen Midway as the master developer for the 250-acre Cottonwood Tract. Located northeast of Austin, the site is adjacent to Samsung's new semiconductor plant. Midway’s development plan is to create a mixed-use community featuring a grocery store, diverse restaurants, entertainment venues, ample park space, and city facilities.
FROM OFFICE PARK TO VIBRANT DISTRICT
CENTRAL PARK POST OAK
In 2023, Midway, in collaboration with 3Edgewood and Parkway, embarked on a path forward to execute a strategic plan to unlock the untapped value of Central Park Post Oak by capitalizing on the rich densification, adaptive reuse, and repositioning opportunities available at this prime location.
Building upon Midway’s track record of creating modern, vibrant, mixed-use environments that will serve our community well into the future, Central Park Post Oak will be transformed from simply an office park into an engaging district that redefines this micro market.
The planned retail, hotel, and residential addition will not only revitalize this location by appealing to those outside of the office tenants and in the Uptown community, but will be accretive to the value of the office buildings themselves due to their position in a highly amenitized mixed-use environment.
TRANSFORMING CITYWEST
CityWest is a vibrant 39-acre campus nestled in Houston’s newly formed NOW District (North of Westheimer), close to the Energy Corridor. This cutting-edge Class-A office hub, built from 1993 to 2001, encompasses four buildings spanning more than 1.4M rentable square feet.
CityWest showcases award-winning outdoor spaces that set it apart nationally. From lush flower gardens to serene pine groves and sunken gathering spots accentuated by calming water features.
Midway’s visionary plans aim to utilize its unique placemaking expertise to enhance the site further by introducing new restaurants and a central green. Looking ahead, the long-term vision includes integrating a new hotel and multifamily dwellings into the complex for a fully immersive mixed-use experience. citywesthouston . com
/ 2024 NOTABLE NEW LEASES
Bechtel Energy 108,724 SF
Noble Drilling 110,250 SF
Empyrean 41,667 SF
Credera 14,132 SF
renderings are subject to change
HOTEL
RETAIL + RESTAURANT
ELEVATING THE EXPERIENCE AT
CITYCENTRE's luxury hotel is embarking on a multi-million dollar renovation, furthering our commitment to providing exceptional hospitality experiences. From upgraded guest rooms to new dining experiences, this renovation is designed to elevate the guest experience with a modern Texas-inspired aesthetic.
HORIZON TOWER
ADVANCING INNOVATION AND EDUCATION
MIDWAY’S ACQUISITION OF TEXAS A&M INNOVATION PLAZA
Midway expands into the Texas Medical Center with the strategic acquisition of a significant portion of Texas A&M Innovation Plaza. This landmark mixed-use development, anchored by Texas A&M's pioneering EnMed program in the adjacent Discovery Tower, includes Life Tower (a 19-story residential building serving students, residents, and faculty), Horizon Garage (a 13-story parking structure), and nearly an acre of greenspace. This acquisition reinforces Midway's strong partnership with the Texas A&M University System, building upon successful collaborations like Century Square, and strengthens its portfolio in the world's largest medical center, advancing innovation and supporting the future of medical education.
EXCITING EXPANSION CENTURY SQUARE PHASE II
In 2023, Century Square kicked off construction on Phase II, introducing exciting new additions to the development. The upcoming phase, situated along University Drive, will feature two modern single-story retail buildings totaling more than 15,000 square feet each. Nestled between them will be a 5,000-square-foot vibrant plaza, patio for dining, and lush green gathering space for the community to enjoy.
The lineup of new tenants for Phase II includes popular brands like Dimassi's, Houston Hot Chicken, Sephora, Coco Shrimp, ChopShop, and Wells Fargo. Completed in the Fall of 2024, this expansion is set to welcome eight to ten businesses. Additionally, Century Square plans to add 125 surface spaces for convenience and ease of access for guests and visitors.
INTRODUCING
RED'S ICE HOUSE
Red’s Ice House will open its doors in February 2025, serving an elevated selection of American classics, cold beverages, specialty cocktails, and wine to locals. Inspired by the classic “ice house,” customers will see familiar options like chicken sandwiches and homemade burgers along with weekend brunch featuring menu items such as creme brulee French toast and eggs benedict. The patio underwent a significant transformation, creating a lively outdoor environment with new custom railings, year-round seating, and plenty of televisions.
sister brand
Watermark District will re-imagine how the “Energy Capital of the World” is perceived, with Class A office, retail, and restaurants surrounded by waterfront views and outdoor walkways, providing a calming yet lively environment with countless lifestyle amenities. The district will also include a hotel that’s more than your typical “cut-and-dry” business trip and an array of built-in residential opportunities.
70+ AC Mixed-Use Campus Environment
100K SF Wellness/Fitness Facility
1+ MI On-site Walking+Biking Paths
High Security Campus
Central Location Center for Sustainability
OUR LEGACY
03
AGGIE PARK
YELLOWSTONE ACADEMY
HALO HOUSE
Midway serves a wide array of civic, charitable, and industry organizations.
The Midway Foundation was formed in 2003 to empower Midway team members to become living examples in the markets where we operate by serving the underprivileged, supporting education, improving health, and strengthening our communities.
/NOTABLE PUBLIC PARTNERSHIPS
Avenue CDC
Buffalo Bayou Partnership
Central Houston, Inc.
East End District
East River Municipal Management District (HCID #23)
Energy Corridor District
Fifth Ward Community Redevelopment Corporation
Fifth Ward TIRZ (TIRZ 18)
Greater Houston Partnership
Houston Downtown Management District
Houston Exponential (HX)
Hutto Economic Development Corporation
Astrodome Conservancy
Buffalo Bayou Partnership
Dress for Success
Halo House
Commercial Real Estate Women (CREW)
Houston Realty Business Coalition
International Council of Shopping Centers (ICSC)
National Multifamily Housing Council
National Association of Industrial and Office Properties (NAIOP)
National Association of Real Estate Editors (NAREE)
Global Governing Board of Trustees of the Urban Land Institute
Texas A&M Real Estate Council (TAMU RE)
Scenic Houston
SEARCH Homeless Services
Truly Home
Upper Kirby Redevelopment Authority
Yellowstone Academy
Memorial City Redevelopment Authority (TIRZ 17)
A. 1980
Moran, Midway B. 1981
Hitachi Groundbreaking
C. Debbi Felwock And Jim Moran
D. 1979 | Metropolitan Office Building Groundbreaking
A Legacy of Vision and Generosity: Remembering Jim Moran
It’s hard to believe it’s been 25 years since the passing of Jim Moran, a man whose legacy is as vibrant today as it was during his lifetime. A visionary leader, a dedicated family man, an enthusiastic athlete, a proud veteran, a child of God, and a pioneering force in the industry, Jim’s life was a testament to the power of passion, vision, teamwork, and generosity. These values, which he held dear, continue to be the guiding principles for Midway, shaping our commitment to creating remarkable places and enduring assets that enrich people’s lives.
Jim Moran’s story is not just about the remarkable achievements of one individual but about how one person’s vision and faith can have a lasting impact on the community and beyond. His dedication to making a difference, both in the business world and in philanthropic efforts, inspires us all at Midway. We see his influence in every project we undertake, the teamwork that drives our success, and the communities we help build and support. We thank him and honor his legacy yesterday, today and tomorrow.
