The holding company, which has interests in real estate, energy and technology, has acquired the property in its recent takeover of Gulf Sun. The property includes 10,000 sf of office space and 40,000 sf of production space for Gulf Sun's multitude of energy-related products. Gulf Sun has been based in Magnolia for 10 years.

Paul C. Syracuse, Oxford Knight's president and CEO, told GlobeSt.com that the decision has been predicated on Texas' healthy economy. The holding company presently maintains its headquarters in Grand Island, a suburb of Buffalo. Syracuse says the existing home port's economy has taken a distinct downturn and he wants to be positioned in a more robust location. Oxford Knight, says Syracuse, is eyeing other Texas companies for possible acquisitions. The company currently is developing 43 properties in Baltimore, MD and has mergers pending with other energy and technology companies.