Monday , 22 December 2014
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Houston Gains 125,000 Jobs – Best Job Growth Since 1981

HOUSTON – Don’t write off the Houston economy just yet. Demonstrating the healthiest hiring pattern in 33 years, Houston created 125,300 jobs in the last 12 months. It was the strongest job growth for Houston since August 1981 when 127,700 jobs were added. Over the last year, Houston’s strongest sectors for hiring were energy and construction. Houston has been leading ... Read More »

Stewart Title Extends Big Lease in Cousins’ Post Oak Central Complex in Houston

HOUSTON –  Stewart Information Services Corp., the parent company of Stewart Title,  signed a 230,000 square foot lease extension for its headquarters offices at the Post Oak Central office complex near the Galleria in Houston. Atlanta-based Cousins Properties, owner of Post Oak Central,  announced the lease extension. Stewart, whose lease was scheduled to expire in September 2016, extended its term for three ... Read More »

Korean Investors Buy Lakes on Post Oak Project Near Houston’s Galleria

HOUSTON – FG Asset Management, a Korean syndicator, has paid about $175 million to purchase the 3000 Post Oak Boulevard building, a 441,000 square feet in the Lakes on Post Oak development in Houston. The 23-acre Lakes on Post Oak development, developed by Hines in 1982, consists of three office buildings totaling 1.2 million square feet. The site is just ... Read More »

CBRE Group Acquires Oklahoma Brokerage

OKLAHOMA CITY – CBRE Group has acquired CBRE/Oklahoma, a commercial real estate services firm that has served as CBRE’s affiliate in Oklahoma City and Tulsa, Oklahoma, and in northwest Arkansas since 1999. CBRE | Oklahoma is one of the region’s leading providers of leasing, investment sales, property management and corporate services. The firm, led by co-founder Tom O’Brien and senior ... Read More »

New CEO Named to Lead Massive realtor.com Website

NEW YORK – News Corp. has named Ryan O’Hara as Chief Executive Officer of Move, Inc., the operator of realtor.com, the official listing website of the National Association of Realtors. O’Hara will replace CEO Steven Berkowitz, who has led the company since January 2009. News Corp acquired Move, a leading provider of online real estate services, including realtor.com, last month ... Read More »

Trammell Crow/Prudential JV Start Spec Office Project Near Houston’s Energy Corridor

HOUSTON– A joint venture of Trammell Crow Co. and Prudential Real Estate will develop One Grand Crossing, a speculative three-story172,000 square foot office building near Houston’s Energy Corridor. The 8-acre site is located in the 124 acre mixed-use Grand Crossing development at the southwest corner of Grand Parkway and Interstate 10. Construction on One Grand Crossing has begun and the ... Read More »

Comerica: Low Oil Prices Create an Economic ‘Sea Change’ and 11 Percent Drop in Housing Starts to Houston

HOUSTON – Significantly lower oil prices represent “a sea change” in the Houston economy and will bring about a weaker commercial real estate market and an 11 percent decline in housing starts in 2015, according to economic commentary by Comerica Bank. After creating about 120,000 jobs in 2014, Comerica projects that Houston will add about 82,000 new jobs in 2015. ... Read More »

Two Energy Firms Lease Office Space in Houston, Where Falling Oil Prices Pose Questions

HOUSTON — Parkway Properties has announced two Houston office leases to energy-related firms, reducing the potential for empty space in its Houston portfolio. “These two leases help to quickly mitigate some upcoming known move-outs in our Houston portfolio with little to no downtime,” stated James R. Heistand, President and Chief Executive Officer of Parkway. Nabors Industries, which owns more than ... Read More »

159,175-sf Houston Office Building Sold for $26.2 Million

HOUSTON – Sam Houston Crossing I, a 159,175 square-foot office building in northwest Houston has been purchased for $26.2 million. The buyer ia a joint venture between Houston-based Fuller Realty Partners and Independencia. HFF marketed the property on behalf of the sellers, Duke Realty Corporation and Chambers Street Properties. Sam Houston Crossing I is located in Houston’s West Belt Corridor ... Read More »

Cousins Selling 40-story Fort Worth Tower Acquired in Greenway Deal; Building is HQ of Crescent

FORT WORTH – Cousins Properties has agreed to sell 777 Main building in Fort Worth, a 40-story tower it acquired as part of its deal to buy Greenway Plaza in Houston last year. 777 Main is a 980,000 square foot, Class-A office tower located in downtown Fort Worth and is 75 percent leased with Jacobs Engineering, Frac Tech Services and ... Read More »

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