XSpace

What XSpace does

XSpace is a private US-based commercial real estate developer founded in 2019 by Byron Smith and headquartered in Austin, Texas. The company develops and sells multi-use, ownable industrial condominium units — typically ranging from 300 to 10,000 square feet — designed for flexible use as office, warehouse, light manufacturing, showrooms, lifestyle storage (e.g., car collections, gyms, studios), and investment properties. Its flagship XSpace Austin, opened October 2022 overlooking Lake Travis, achieved 100% occupancy and features concrete-and-steel construction, climate control, 24/7 secure access, and a rooftop owners' lounge. A second property, XSpace Houston in the Design Center district, broke ground in Q2 2026 with projected Q1 2027 delivery and surpassed 35% presold during Phase 2, funded in part by a $29 million construction loan arranged by IPA Capital Markets. In June 2026 the company announced a joint venture with RAFA Racing Club and Maximo Capital for a five-project national expansion (Miami, Charlotte, DFW, Scottsdale/Phoenix, Los Angeles) projected at $250 million in total sales.

The business model centers on one-time deeded condo unit sales (the primary revenue stream) supplemented by recurring leasing options, financing facilitation through preferred lender Vera Bank, and exclusive design/build services via The Garage Edit partnership. Distribution combines a direct sales team with exclusive listing partner WHGP Commercial (Houston) and external visibility on LoopNet. Customer segments are hybrid and span entrepreneurs, small-to-mid-market businesses, affluent individual collectors (including pro athletes and family offices), and real estate investors; pricing is not publicly disclosed. Operational differentiation is anchored in branded architectural design — most notably by Francisco Gonzalez-Pulido of FGP Atelier for the Houston project — community-oriented amenities, and an asset-ownership value proposition that locks in occupancy costs and offers appreciation potential versus traditional leasing.

Underlying technology is intentionally minimal: there is no proprietary software platform, no AI/ML components disclosed, and no patents or trademarks registered. The company's defensibility rests on real estate fundamentals (location, design, build quality, partner relationships with KDW for construction and Vera Bank for financing) and on a leadership team that combines CRE pedigree (Howard Ecker, Welcome Wilson Jr.) with operational and legal expertise (Ray DeLaughter ex-Deloitte M&A, Michael Pass ex-Debevoise/Torys/Davis & Gilbert). Growth is project-cadenced and geographically incremental, with revenue visibility tied to closings on Houston (2027) and the five RAFA JV markets beyond.

Name

XSpace

Legal name

XSpace Group LLC

Website

https://xspacegroup.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

XSpace is a private Austin-based commercial real estate developer that builds and sells multi-use industrial condominium units (300–10,000 sq ft) to entrepreneurs, affluent collectors, small businesses, and real estate investors, with flagship Austin at 100% occupancy and a national expansion underway via a $250M five-project joint venture.

Ownership category

akta.pro rank

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Commercial Condominium Sales: XSpace sells multi-use commercial condominium units to buyers who want to own their commercial space. Units are customizable and range from 300 to 10,000 square feet. This is a one-time purchase transaction model where buyers acquire deeded property.
2. Commercial Condominium Leasing: XSpace also offers leasing options for buyers who prefer not to purchase. This provides recurring rental income for the company while maintaining flexibility for tenants who may later convert to ownership.
3. Financial Services - Lending Partnerships: XSpace partners with Vera Bank and other lenders to provide financing options for buyers. While the primary revenue flows to lenders, this strengthens the sales process and enables higher transaction values.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

XSpace develops, sells, and leases multi-use commercial condominium units ranging from 300 to 10,000 square feet, designed for office, warehouse, and lifestyle uses. Units are deeded property that buyers own outright, with premium amenities including 24/7 secure access, climate control, high ceilings, drive-up access, and shared community spaces. The company also facilitates buyer financing through preferred lending partner Vera Bank and offers customization services via an exclusive partnership with The Garage Edit.

Product overview

XSpace is a multi-use commercial condominium platform offering flexible, customizable industrial spaces for office, warehouse, and lifestyle needs. The core product consists of ownable flex industrial condominiums available at flagship locations (XSpace Austin with 100% occupancy), under development (XSpace Houston, delivery Q1 2027), and planned expansion (XSpace Miami). Units range from 300 to 10,000+ square feet with features including drive-up access, climate control, high ceilings, mezzanines, and rooftop lounges. Supporting services include XSpace Financial Services for financing through Vera Bank and The Garage Edit partnership for custom build-outs. The company targets entrepreneurs, collectors, small businesses, and investors seeking ownership rather than leasing.

Differentiator

Problem solved

Functional benefit

Products and services

• XSpace Austin Flagship multi-use commercial condominium development in Austin, TX offering 300 to 3,000 square foot customizable units for office, warehouse, and lifestyle uses, featuring concrete and steel construction, 24-hour video surveillance, biometric entry, and rooftop lounge with Lake Travis views.
• XSpace Houston Multi-use commercial condominium development in Houston's Design Center district offering customizable units from 400 to 10,000 square feet with drive-up access, car elevator, 20-foot ceiling heights, temperature control, and rooftop owners lounge.
• XSpace Financial Services Financing facilitation program for XSpace unit purchases, with Vera Bank as the preferred lending partner offering customized financing options and additional lender options through a program spreadsheet.

Quantifiable outcome

• 100% occupancy achieved at XSpace Austin flagship
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Five partnerships are on record, tiered flagship, core and exclusive.

• RAFA Racing ClubflagshipStrategic or Co-development Partner · 6 June 2026RAFA Racing Club is a joint venture partner for a five-project national expansion program combining XSpace's industrial condominiums with RAFA's members-only motorsports clubhouses. Each project features RAFA Racing Club Social & Performance Centres on the ground floor with hospitality, simulation, and performance amenities.
• WHGP CommercialcoreChannel Partner/ Reseller/ Distributor · 21 May 2026WHGP Commercial, led by Chairman Washington Ho, serves as exclusive listing partner for XSpace Houston. Ho has personally reserved two units through his family office, demonstrating confidence in the project.
• KDWcoreStrategic or Co-development Partner · 11 February 2026KDW is XSpace's construction partner, having completed XSpace Austin and now leading construction of XSpace Houston. Led by Keith Dalton, KDW brings over 40 years of experience and has completed 2,000+ projects. The partnership combines proven commercial development expertise with XSpace's innovative condominium model.
• The Garage EditexclusiveImplementation/ SI/ Consulting PartnerExclusive partnership with The Garage Edit, a design-centric build-out company specializing in transforming garages into extraordinary spaces. They offer custom gyms, showrooms, and tailored storage solutions for XSpace owners.
• Francisco Gonzalez-Pulido / FGP AteliercoreStrategic or Co-development PartnerFrancisco Gonzalez-Pulido of FGP Atelier serves as architect for XSpace Houston, bringing globally recognized design including Stadium of Diablos Rojos, Veer Towers in Las Vegas, and Felipe Ángeles International Airport. The firm takes a multidisciplinary approach integrating design, science, art, and technology.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Prologis: Global industrial REIT (PLD) and the largest industrial real estate platform worldwide. Comparable in underlying industrial real estate asset class; serves as a broad incumbent reference point for institutional industrial scale, though targets mega-tenant logistics rather than small-bay flex.
• PS Business Parks: Flex/office/industrial REIT (taken private 2022) historically focused on multi-tenant flex industrial space — the closest traditional REIT analog to XSpace's flex industrial condo model in terms of unit type and tenant mix, though delivered via leasing rather than condo sale.
• EastGroup Properties: Public industrial REIT (EGP) focused on multi-tenant distribution and light industrial properties across Sunbelt markets. Closely comparable asset class to XSpace's multi-use industrial/flex condo product, though operates via long-term triple-net leases rather than condo ownership.
• Howard Hughes Corporation: Public master-planned community developer (HHC) actively engaged with XSpace on The Woodlands expansion. Comparable as a large-scale, design-forward real estate developer building premium mixed-use communities — relevant to XSpace's branded industrial-condo-as-lifestyle-community thesis.
• Stag Industrial: Public industrial REIT (STAG) owning and operating modern industrial properties across the US. Comparable asset class and small-tenant exposure to XSpace's flex industrial condo product, with similar geographic diversification ambitions.
• W. P. Carey: Public net-lease REIT (WPC) owning diversified commercial real estate. Comparable as a long-duration, capital-efficient commercial real estate investor; provides broader benchmark for commercial real estate yield, cap rate, and capital structure expectations relevant to XSpace's condo development pipeline.
• Terreno Realty Corporation: Public industrial REIT (TRNO) owning industrial properties in six major US coastal markets. Asset class directly comparable to XSpace's industrial flex units, with similar emphasis on infill locations serving entrepreneur/small-tenant demand.
• Rexford Industrial Realty: Public industrial REIT (REXR) focused on infill industrial properties in Southern California. Similar asset class to XSpace's industrial flex product, with comparable target tenants (logistics, light manufacturing, last-mile) but operates a lease-based REIT model.
• LXP Industrial Trust: Public industrial REIT (LXP) focused on single-tenant and multi-tenant industrial properties across the US. Comparable asset class and small-bay industrial exposure; relevant as a valuation and cap-rate benchmark for XSpace's flex industrial condo pipeline.

Direct peers

• Bridge Industrial: Private Chicago-based industrial real estate investment and development firm focused on Class-A industrial properties in core US markets. Comparable as a developer (rather than pure REIT) of institutional-grade industrial product with a similar Sunbelt and infill focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/XspaceGroup
• Facebookfacebook.com/XSpaceAustin
• LinkedInlinkedin.com/company/xspace-group
• Instagraminstagram.com/xspacegroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about XSpace