Thursday , 5 May 2016
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Beijing Developers Begin Construction on $300 Million Mixed-Use Project in Pearland

HOUSTON – America Modern Green, a subsidiary of Beijing-based Modern Land China, has begun construction on a $300 million mixed-use project that will deliver office, retail, multifamily, seniors living and a hotel to Pearland, just south of Houston. The 48-acre development, called the Ivy District, is expected to have a wide variety of commercial and residential building on-site upon completion ... Read More »

Retail Rush : New 1 million SF IKEA Distribution Center May be Tip of the Iceberg for Retailers’ Warehouses

BAYTOWN, Texas – The new 1 million SF IKEA distribution center planned for the TGS Cedar Port Industrial Park near Baytown is a sign of things to come. At the CBRE press luncheon last week, Faron Wiley of CBRE’s industrial division says Houston has come of age in for retail distribution space. For years, Dallas has been the major warehouse/distribution ... Read More »

New Houston REIT to Own Greenway Plaza and Other Major Buildings in Wake of Cousins/Parkway Merger

HOUSTON – Cousins Properties and Parkway Properties – two large REITs with significant Houston holdings – have agreed to merge and spin-off a new REIT of Houston office towers. In a deal slated to close at year-end, Atlanta-based Cousins will acquire Orlando-based Parkway for $2 billion, paid in stock. The new Houston REIT will own five Houston office properties with ... Read More »

Valencia has Discovered a New Hotel Development Niche that Others May Soon Imitate

HOUSTON – Houston-based hospitality firm Valencia Group believes it has found a niche for further hotel expansion: college towns. The firm — which is building the luxury Hotel Alessandra Houston downtown in partnership with Midway — is positioning properties near universities such as Texas A&M, explains Valencia Executive Vice President John Keeling. “College Station is one of the strongest college ... Read More »

Luxury Housing for Dogs: Cage-Free Kennels With Pet Bakeries and the Occasional Private Party

(By Dale King) HOUSTON – The reality of dog kennels and pet care facilities has changed during the past couple of decades, even though the widely accepted image of canines being kept in cinderblock cages that exit into chain link-fenced dog runs hasn’t. Many modern-day canine care centers across the nation look more like ranches or resorts than kennels, offering ... Read More »

Digesting Houston’s Oversupply of Office Space May Take Years

  (By Ralph Bivins, Editor of Realty News Report.) There is no quick fix. The oversupply of office space in the Energy Corridor sector of west Houston is not going to be digested soon. The sublease belly-ache won’t pass overnight. The office market is fine in some parts of Houston. For the most part, the trouble is centered in the ... Read More »

Branching Out: Hines Begins Its First Seniors Living Facility

NEW YORK – Hines has partnered with Welltower Inc. to acquire a site at corner northeast corner of Lexington Avenue and 56th St. in Midtown Manhattan where a 15-story seniors living facility will be built. “Hines is delighted to partner with Welltower in our first our first venture in the senior living sector,” said Hines senior managing director Tommy Craig. ... Read More »

Houston Bucks Trend: RNR Special Report From the ULI Meeting in Philadelphia

(By Realty News Report) – PHILADELPHIA – Overall U.S. office vacancy rates are expected to decline to 12.6 percent this year and 12.3 percent next, according to a new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate. Industrial/warehouse availability rates are predicted to inch up in 2017 and 2018, but remain below ... Read More »

Midway Plans Another 750,000 SF of Office in West Houston as New Tower Opens 75 Percent Leased

HOUSTON – Midway Cos., which has just opened its fifth office building in its CityCentre mixed-use development west Houston, is seeking tenants for two additional office towers on the northern edge of the project. The two new office towers, totaling 750,000 SF, will be built near Interstate 10, part of a northward expansion of CityCentre, which includes office, retail, hotels, ... Read More »

Houston-Based Morgan Group Sells Project for $114 Million

FORT LAUDERDALE, Fla. – Houston-based Morgan Group, a multifamily developer, has sold a 331-unit apartment complex in Fort Lauderdale for $114 million. The buyer of the project, called the Edge at Flagler Village, was an affiliate of TIAA Global Asset Management. Morgan completed construction on The Edge project in 2015. Active in the Florida market since the 1990s, Morgan has ... Read More »

The Quest for Class B: San Antonio Multifamily Acquired

SAN ANTONIO – Sterling Real Estate Holdings, a West Coast investment group seeking Class B and C apartments in Southwestern markets, has acquired the 145-unit Chestnut Park Apartments in San Antonio. The project, built in 1979, is located in the Castle Hills area, which is a good location, says Sterling principal Michael Barker. Sterling is a joint venture of Barker ... Read More »

Oil’s Impact on Houston Hotel Development: The Q&A with Randy McCaslin

Houston’s lodging sector remains relatively strong, particularly with billions in petrochemical plants under construction in East Houston, expansions at the Texas Medical Center, last year’s opening of the Southwest Airlines International terminal at Hobby Airport and the 2016 NCAA Men’s Final Four. Next year Houston hosts the Super Bowl, which will further buoy the hospitality market. Where is the hotel ... Read More »

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