Dhanani Private Equity Group (DPEG) has acquired the former Texas Instruments office building and its surrounding grounds in Sugar Land, Texas. The transaction, which closed on April 13, involves a 165,000-square-foot structure situated on more than seven acres of land, according to Fort Bend County public records.
The firm intends to relocate its headquarters to the property by mid-2027. DPEG plans to occupy approximately 30,000 square feet on the ground floor for its own operations. The remaining space on the second and third floors will be converted into 40 separate office suites available for sale. Principal Faiz Hirani noted that contracts are already in place for 25 of those units.
Dhanani has operated out of a 10,000-square-foot storefront at 11333 Fountain Lake Drive in Stafford since 2023. The company’s workforce expanded from 20 to 100 employees during that period, prompting the need for a larger facility.
Hirani described the acquisition as a rapid opportunity. He told the Houston Business Journal that Texas Instruments announced its intent to vacate the site with very little notice, allowing DPEG to move quickly on the purchase.
Deed records indicate the sale was financed through a $27.5 million promissory note from SouthState Bank, secured by a special warranty deed. Specific financial terms of the purchase price were not disclosed publicly.
Texas Instruments originally purchased the site in 2012 and invested roughly $35 million to develop the building. The company selected Sugar Land at that time for its local amenities and proximity to staff residences.
While Texas Instruments did not respond to Bisnow’s inquiry, a statement provided to the Houston Business Journal indicated the company plans to maintain a presence in Sugar Land but is seeking an alternative location to open this fall.