Tuesday , 21 February 2017
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Crescent Sells The Groves and Two Other Master Planned Communities

HOUSTON – Crescent Communities has sold The Groves, a 1,000-acre master-planned community in northeast Houston and two other Texas single-family communities to funds managed by Castlelake, L.P. of Minneapolis. The Charlotte-based Crescent sold 100 percent of its interests in The Groves in the northeast Houston suburb of Humble, Belterra in southwest Austin and Wildridge in the Dallas suburb of Oak ... Read More »

Today’s Office Market: Get Ready for Co-Working Space, Major Amenities and Going Long

HOUSTON – The “co-working” phenomenon is coming to the Houston office market in a big way, says Chip Colvill, president of Colvill Office Properties. Co-working operators, including WeWork, Tech-Space and Regus, have been examining the Houston office market and will take large chunks of space for co-working outlets. The office-sharing spaces appeal to start-up firms and Fortune 500 firms with ... Read More »

Canadian Home Builder Selects Houston Area for its Second U.S. Development

HOUSTON – Empire Communities, a Canadian home builder, is starting its second U.S. development – in the Woodforest project in southern Montgomery County. The company launched its U.S. activity last year with the 600-acre Dellrose community near the Grand Parkway in Cypress. Empire also plans to enter Austin and Dallas markets, said James Miller, president of the Empire’s Texas division. ... Read More »

Historic Texaco Building Re-Opens as The Star Apartments in Downtown Houston

HOUSTON – The 102-year-old Texaco building in downtown Houston has been redeveloped into a 286-unit residential rental tower called The Star. The 410,000-SF high-rise apartment tower, developed by Dallas-based Provident Realty Advisors, offers starting rents at $2,150. The Star, originally designed in Renaissance Revival style with Beaux-Arts accents, is located at 1111 Rusk on a block bounded by San Jacinto, ... Read More »

RigNet Leases 29,000 SF in Energy Corridor

HOUSTON – RigNet, a leading global provider of digital technology solutions, leased 28,808 SF of office space at Park Ten Plaza in Houston’s Energy Corridor. This transaction brings the 155,140-SF building to 83 percent leased. Brad Fricks, Senior Vice President at Stream Realty, represented the landlord, USAA Real Estate Co. RigNet was represented by Joe Peddie at Cushman and Wakefield. ... Read More »

Davis Holdings Buys Midtown Office Building

HOUSTON – Davis Holdings, L.P., an oil and gas, real estate investment firm, purchased a 100-percent leased, 33,000-SF  office building at 1500 McGowen Street in Houston’s Midtown district. JLL’s Louis Rosenthal negotiated terms of the deal on behalf of Davis Holdings. David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller, Skyland Lodge Tract, L.P. “Davis Holdings was attracted to the ... Read More »

Buchanan Street Partners Seeking More Acquisitions, After Buying Houston Office Building

HOUSTON – Duke Realty, a REIT based in Indianapolis, has sold Sam Houston Crossing II, a 160,000-SF office building at 10344 Sam Houston Parkway to Buchanan Street Partners. Duke has been selling off its office properties to focus on industrial real estate. The building, which is 100 percent leased, was purchased by Buchanan Street Partners, which is based in Newport ... Read More »

O’Malley Tells Houston’s Kinder Institute He’s “Open” to Another Presidential Bid in 2020

HOUSTON – (By Michelle Leigh Smith) – Former Maryland Governor Martin O’Malley, mentioned as a possible candidate for president in 2020,  was in Houston Wednesday offering Houstonians a close-up look at data-enhanced governing with a network of cities and universities. O’Malley spoke Wednesday night at the Kinder Institute Urban Research Forum in the Brown Auditorium of the Houston Museum of ... Read More »

49 Texas Warehouses Sold in $1 Billion Deal

HOUSTON – DRA Advisors of New York has paid $1 billion to acquire 49 Texas warehouses and other industrial properties from Cabot Properties of Boston. The 19.8 million SF portfolio includes 25 Houston buildings with a total of 1.7 million SF and 24 Dallas-area buildings with a total of 2.7 million SF. Cushman & Wakefield and Eastdil Secured represented the ... Read More »

Realty News Report’s Legends of Real Estate Awards: Houstonian of the Year

THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has selected the most significant people, projects, deals and ideas of the Houston real estate market for 2016. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments. LEGEND: HOUSTONIAN OF THE ... Read More »

Houston Apartment Association’s State of the Industry: Worst is Over, But Recovery Won’t Be Instant

HOUSTON – Houston’s multifamily industry will have a lackluster 2017 with upscale Class A properties as the weakest sector. That’s the word from the Houston Apartment Association’s State of the Industry breakfast last week. The worst multifamily problem spots are Class A properties in Montrose, Downtown, the Galleria area and the Medical Center area, says Bruce McClenny of Apartment Data ... Read More »

Dallas Firm Buys Houston Multifamily Project

HOUSTON – Dallas-based Westmount Realty Capital has acquired the 257-unit London Park apartments, a Class B garden-style project on Bammel North Houston Road in North Houston. The community, which was purchased from an affiliate of Fairfield Residential Company of San Diego, was built in 1982. Renamed Westmount at London Park, it is 95 percent occupied, says Michael Anderson, senior director ... Read More »

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