Dow Chemical R&D Campus Sold, Market briefs

In Lake Jackson, Texas, The Dow Chemical Company research and development campus in Lake Jackson has been sold.

Brixton Capital, a privately held real estate investment firm based in Solana Beach, Calif., reported the sale of the Dow Texas Innovation Center in Lake Jackson to ExchangeRight Essential Income REIT. Brixton had owned the property since November 2020.

Built in 2016, the 34-acre campus is fully leased to The Dow Chemical Company under a single-tenant, triple-net lease. The campus totals 664,100 sq ft across four buildings at 220, 230, 240 and 270 Abner Jackson Parkway in Lake Jackson.

Located about 50 miles south of downtown Houston, the Dow Texas Innovation Center is a global research and development hub near Dow’s massive Freeport complex. The 7,000-acre Dow Texas Operations site manufactures products used in industrial and consumer applications including food packaging, health care, automobiles, construction, and electronics.

The sale of the R&D campus was completed through a structured UPREIT and debt-assumption transaction, as stated by Brixton Capital.

“This property has been an important part of Brixton Capital’s real estate portfolio, providing economic value and meaningful tax advantages while serving as a high-quality asset within the broader portfolio,” said Corey Eagle, principal at Brixton Capital. “As we evaluated the next chapter of ownership, our priorities were to preserve long-term wealth, maintain exposure to institutional-quality real estate and achieve a tax-efficient transition. By exchanging into REIT operating partnership units, we were able to defer taxes, remain invested in real estate and position the proceeds for long-term growth and income generation. We are pleased with the outcome and view this transaction as a natural evolution of a successful investment.”

Brixton Capital owns and operates a diverse portfolio of approximately $2 billion across the western United States with a focus on retail and multifamily. The company is an affiliate of Brutten Global, a family office-led investment management platform with $10 billion in assets under management.

Based in Pasadena, Calif., ExchangeRight and its affiliates’ vertically integrated platform has more than $7.8 billion in assets under management that are diversified across over 1,400 properties and 31 million SF throughout 47 states. On behalf of investors nationwide, the company structures and manages net-leased portfolios of assets backed primarily by investment-grade corporations.

Based in Midland, Mich., Dow reported $40 billion in sales in 2025. Founded in 1897, Dow purchased land to build the Freeport facility in 1940. Dow Chemical Texas Operations is the company’s largest integrated site. The facility manufactures 44% of Dow’s products sold in the United States and more than 21% of Dow’s products sold globally.