Developers Transforming Former Schlumberger Plant into Mixed-Use Project

Developers Market Square Cos. and Tenon Property Co. plan to tear down a former Schlumberger campus and turn it into a mixed-use project that will include 90,000 square feet of retail, restaurants, entertainment, office space and 350 apartments. The two have teamed up to build Ashford Yard, a 12.7-acre district at the corner of South Dairy Ashford Road and Briar Forest Drive in Houston.

The site currently contains a 155,324-square-foot office building and a 12,000-square-foot building, both vacated by oil field services giant Schlumberger Ltd. during the Covid pandemic. Market Square and Tenon acquired the Schlumberger site as well as an adjacent shopping center in early 2023.

The Houston Business Journal reports that construction on the $25 million retail portion is expected to start in the fourth quarter of next year. The developer expects to deliver the space to tenants by the second quarter of 2026.

The design firm will be Austin-based architecture firm Nelsen Partners. No contractor has been chosen.