T
exas Bay Credit Union is expanding its operations in Houston by acquiring a new headquarters building of approximately 50,000 square feet at 12650 North Featherwood Drive. The new location is about a mile away from their current headquarters on Fuqua Street near Clear Lake. The credit union's CEO, Jesse Gutierrez, is leading this expansion initiative. The credit union had initially planned to expand much earlier but was delayed due to the Covid-19 pandemic. The new headquarters is expected to be ready for occupation by the second quarter of 2025. The credit union also plans to renovate their existing Fuqua Street office, which is expected to be completed by the end of 2026.

    The credit union has experienced significant growth over the years, increasing its local holdings by 13 percent to $766.15 million. The new building is intended to accommodate the increased number of employees.

    Houston's office market has been facing challenges, with leasing activity significantly down from pre-pandemic levels. The central business district has been particularly affected, with many buildings struggling to fill vacancies. In some cases, distressed buildings have changed hands. For instance, One City Centre, a 607,000-square-foot tower at 1021 Main Street, recently had a new owner selected after the previous owner defaulted on $100 million in loans on the property.