Thursday , 30 June 2016
Breaking News

Hines REIT Selling Major Properties in Liquidation Move

HOUSTON – Hines Real Estate Investment Trust, Inc., one of three public non-listed REITs sponsored by Houston-based Hines, will sell seven West Coast office buildings to a Blackstone affiliate for $1.162 billion as part of a plan to liquidate the REIT. Blackstone is acquiring 3 million SF of Hines REIT office properties including the Howard Hughes Center in Los Angeles; ... Read More »

Texas Real Estate Briefs

NAI PARTNERS REPRESENTS APPAREL FIRM IN INDUSTRIAL LEASE  HOUSTON — NAI Partners represented TSC Apparel in leasing 89,060 square feet of industrial distribution space at Apex Distribution Center, 10634 Tanner Road in Houston. John Ferruzzo  and Darren O’Conor of NAI Partners represented the apparel firm during negotiations while Matteson Hamilton and Blake Warren of Stream Realty Partners represented the landlord, ... Read More »

Amazon to Build an 855,000 SF Fulfillment Center in Hines Business Park in Houston

HOUSTON – Amazon will build an 855,000 SF fulfillment center in Hines’ Pinto Business Park at the southwest corner of Interstate 45 North and Beltway 8 in north Houston. The Harris County commissioners voted Tuesday to provide Amazon with a tax abatement of $180,000 a year for 10 years, as an economic stimulus, according to the Houston Chronicle. Amazon will ... Read More »

Hines Begins Construction on Conrad Hotel in Washington

WASHINGTON – Construction has started on the Conrad Washington, D.C., a 360-room hotel with 30,000 SF of ground-floor retail space at CityCenterDC, a 10-acre mixed-use project being developed by Hines and Qatari Diar. The hotel is the seventh building developed by Hines and Qatari Diar at CityCenterDC., a project that covers more than four city blocks bounded by New York ... Read More »

IT’S FINISHED! – After 9 Years of Construction, the Panama Canal Expansion Will Boost the Port of Houston

(By Dale King) HOUSTON – With the opening of the expanded Panama Canal this past Sunday, and the promise of use by a new breed of mega-ships carrying vast numbers of cargo containers through the revamped, 102-year-old, trans-Central America channel, the Port of Houston is looking for its share of the impending action. “Frankly, we just want more volume. Content ... Read More »

Fort Worth Real Estate Investor John Goff Readies $4 Billion for CRE Investments

FORT WORTH – Fort Worth Investor John Goff, co-founder of Crescent Real Estate Equities and former owner of Houston’s Greenway Plaza, has established a investment fund that will be used to seed capital for new real estate investments. The fund, known as the GP Invitation Fund I (GPIF), closed after a private, invitation-only campaign raised $200 million. The fund expects ... Read More »

HFF Arranges Refi of $550 Million River Oaks District

HOUSTON – Holliday Fenoglio Fowler has arranged joint venture equity for the recapitalization of the $550 million River Oaks District, a 650,000-SF mixed-use development on Westheimer Road in Houston. HFF worked exclusively on behalf of the developer, OliverMcMillan and its equity partner, to arrange joint venture equity for the recapitalization of the property from institutional investors advised by J.P. Morgan ... Read More »

Lennar Plans Infill Townhome Project in Spring Branch

HOUSTON – Lennar is building 106 townhomes in the Spring Branch area, north of the Katy Freeway near Campbell Road. The townhomes, priced around $400,000, will be located in the Knoll Park gated community developed by Friendswood Development. After working in outlying suburbs, Lennar, a Miami-based homebuilding firm, has been examining sites near the Inner Loop of Houston for townhome ... Read More »

Houston’s Midtown Emerging as Millennial Office Market

HOUSTON – Powers Brown Architecture, in a move that reinforces Midtown’s emergence as a preferred locale for Millennial office space, is relocating from downtown to Midtown. Powers Brown signed an 11,637-square-foot lease at Central Square, which is currently undergoing a  renovation. Transwestern’s David Baker and Evelyn Ward negotiated the deal on behalf of the building owner, Claremont Properties. “The Midtown ... Read More »

Baylor All Saints Medical Center Property Sold for Redevelopment

FORT WORTH – A medical building formerly occupied by Baylor All Saints Medical has been sold for redevelopment. On behalf of Rainier Realty Investments, CBRE announces the sale of an 11.8-acre site with multiple buildings at 7100 Oakmont Boulevard in Fort Worth, Texas. The asset includes a 113,000-square-foot former hospital building and a 12,000-square-foot former power plant. Fort Worth-based TCRG Properties LLC purchased ... Read More »

Strategic Midtown Property Sold for Redevelopment

HOUSTON – PLC Capital Corp., has acquired the prime Greensheet property at the corner of Main Street and McGowen in the Midtown district, just south of downtown Houston. The site is across the street from the well-known Superblock Midtown Park parcel and the Camden McGowen Metro Rail Station, noted Houston real estate veteran Fred Ghabriel of Bejjani & Associates, which ... Read More »

Labor Shortage Pinches Construction Industry

(By Dale King) Nearly a million workers in construction trades lost their jobs during the “Great Recession” and its aftershocks that slammed the United States in 2008 and subsequent years. Ironically, that same economic downtown continues to adversely impact the construction trade. Only today, it is causing a labor shortage that is forcing industry costs up, even though the price ... Read More »

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