Thursday , 18 December 2014
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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 »

Houston’s Brinsden: Oil Price Plunge Will Pinch Office Market First

HOUSTON – The Houston office market will be the first real estate sector to feel the pinch of lower oil prices, which have cast a cloud over the Houston real estate market. “The office side is where we are going to feel it first,” said Jonathan Brinsden, CEO of Midway Cos., a Houston based firm that develops office and mixed-use ... Read More »

MIG Buys 256-unit Heights Apartments from Wood Partners

HOUSTON – MIG Real Estate, a Newport Beach, California-based real estate investment company, has acquired Alta Heights, a 256-unit apartment community in The Heights community in Houston. Alta Heights is located at 145 Heights Boulevard, just north of Washington Avenue, about three miles from Downtown Houston. The project, which was completed about a year ago, was developed by Wood Partners ... Read More »

Hines Buys Former Intel Building in Guadalajara

GUADALAJARA, Mexico – Hines has acquired Parque Industrial Tecnológico II, a 1,308,321-square-foot industrial property located in Guadalajara, Jalisco, Mexico. Hines developed Parque Industrial Tecnológico II and sold it to Union Investment in 2007.  Cushman and Wakefield represented Union Investment in this operation and Savills represented Hines. Parque Industrial Tecnológico II is located at the corner of Anillo Periferico and Avenida ... Read More »

Rockspring Invests in 157-acre Tract

HOUSTON – Rockspring Capital, a privately-owned real estate investment firm based in Houston, has acquired a 157-acre site in the Houston submarket of Katy. The tract, suited for single-family residential, is located off of Katy Hockley road, just north of FM 529. This property is adjacent to the 2,705-acre Newland Communities site and is within the Katy Independent School District, which ... Read More »

Rosemont Realty Buys Office Building in Houston’s Energy Corridor

HOUSTON – Rosemont Realty, LLC, a leading commercial real based in Santa Fe, N.M., has acquired Kirkwood Tower in Houston’ Energy Corridor. The acquisition of the 15-story tower adds 285,682 rentable square feet of Class A office space to Rosemont Realty’s portfolio. It brings the company’s total square footage in the greater Houston area to nearly 2.5 million square feet, ... Read More »

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