Friday , 24 October 2014
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City of Austin Wins ULI Affordable Housing Award

NEW YORK – The City of Austin’s affordable housing program has been named a winner in the Urban Land Institute (ULI) Terwilliger Center for Housing annual housing awards, a program that celebrates and promotes the exemplary efforts of real estate and public policy leaders from across the country who are working to expand affordable and workforce housing opportunities. Winners for both ... Read More »

Shorenstein Selling Five Post Oak Park for Anticipated $185 Million

HOUSTON – Shorenstein Properties is selling the 28-story Five Post Oak Park, an Inner Loop Houston office building that is expected to fetch $185 million, or $326 per square foot. The Real Estate Alert newsletter reported that the deal is considered a “value add” play because the building’s anchor tenant Amergy Bank is expected to relocate in 2016. Amegy is ... Read More »

Houston Ranked No. 1; Austin 2nd in ULI Emerging Trends 2015 Realty Forecast

NEW YORK – Investors selected Houston as the top city for commercial real estate investment in 2015, while two other Texas markets – Austin and Dallas/Fort Worth are in the top five in the annual Emerging Trends in Real Estate forecast by PwC US and the Urban Land Institute (ULI). In 2015, investors will be looking beyond the traditional “core” ... Read More »

Houston Adds 119,000 New Jobs to Lead the Nation

HOUSTON – The Houston area led the state in job growth, creating 119,400 jobs in the 12 months ending September, according to the Texas Workforce Commission. “Houston is the No. 1 job creator in the nation,” said Nathaniel Karp, chief economist for BBVA in remarks at the Houston Economics Club Tuesday. Texas is becoming more dominant in oil production and ... Read More »

Transwestern to Develop Apartments in Trademark’s Sustainable “Conscious Place” Mixed-Use Project in Ft. Worth

FORT WORTH – Transwestern Development Co. of Houston will build a 385-unit multifamily community in the new Waterside mixed-use development in Fort Worth. The Waterside development is billed as a sustainable cutting-edge development with principles of being a “Conscious Place” project, according to Waterside developer Terry Montesi, CEO of Fort Worth-based Trademark Property Co. Construction work will begin this month ... Read More »

Cabot Buys Houston Industrial Portfolio

HOUSTON – Cabot Properties, a Boston-based real estate investment firm, has purchased a three-building, 243,100-sf industrial portfolio in Houston, Texas. HFF marketed the portfolio on behalf of the seller, EastGroup Properties. The 100-percent-leased portfolio consists of Clay-Campbell I and II in northwest Houston and Kirby Business Center in south Houston. Clay-Campbell I and II are located at 4300-4320 and 4444-4456 ... Read More »

Camp Strake Acreage Eyed for Montgomery County’s First Medical School

HUNTSVILLE – Sam Houston State University is in preliminary discussions regarding the creation of a medical school on the former Camp Strake property in Montgomery County north of Houston. The scenario, as it is currently envisioned, would result in about 10 acres being donated to the university by Johnson Development, the owner of Camp Strake. If funding and regulatory approvals ... Read More »

Flint Hills Buys 111-Year-Old Hughes Bros. Candy Factory

DALLAS –SkyWalker Property Partners has sold the 111-year-old Hughes Brothers Candy Factory, a prime candidate for redevelopment, to Flint Hills Development Group. The Hughes Brothers’ candy factory opened in 1903 and closed during the Great Depression, later becoming a production site for ice cream cones. The brick structure was shuttered in 2000. The property’s potential for residential use became evident ... Read More »

71 Shopping Centers Sold for $2 Billion

BEACHWOOD, Ohio – A joint venture of DDR Corp. and an affiliate of Blackstone Real Estate Partners VII has acquired 71 shopping centers from American Realty Capital Properties, Inc. for $1.93 billion. Prior to the deal, American Realty’s  portfolio included almost 500 properties in Texas, including the Costco-anchored Greenway Commons center in Houston at the northeast corner of Richmond Avenue and ... Read More »

Sunday A.M. Implosion Clears Way for 750,000 SF Office Tower

HOUSTON – Downtown’s old Houston Club Building was imploded Sunday, clearing the way for Skanska to develop the 35-story Capitol Tower in downtown Skanska, which has several office projects under way in Houston, is developing a 750,000-SF office tower to be built at 808 Capitol Street in block bounded by Rusk, Milam and Travis streets. In order to meet the ... Read More »

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