Monday , 21 April 2014
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The Permian Basin Generates Demand for Industrial Buildings

ODESSA , Texas –  AVERA , a Houston-based commercial real estate firm, is building a spec industrial building in the petroleum-rich Permian Basin near Odessa, Texas. With the widespread growth of hydraulic fracturing – or fracking – the Permian Basin of West Texas has become one of the most productive oilfields in the world. Odessa was No. 2 in the ... Read More »

USAA Developing Major Office Project in Washington DC Area

SAN ANTONIO – An affiliate of San Antonio-based USAA Real Estate Co is developing a new office property in the Washington DC suburb of Alexandria, Va. The 705,000-sf office building development at Hoffman Town Center – Block 8 — is preleased to the General Services Administration on behalf of the National Science Foundation (“NSF”) for a term of 15 years.  ... Read More »

Two New Hotels Coming to Energy Corridor

HOUSTON – Dallas-based Western International purchased 5.2 acres in the Energy Corridor of west Houston where the firm will develop a pair of hotels, a Courtyard by Marriott and a Hampton Inn & Suites. The Energy Corridor is one of strongest office markets in the nation, with a Class A occupancy rate that has hovered around 99 percent in recent ... Read More »

Avera Builds Up Assemblage in Dallas-Area Business Park

DALLAS – AVERA has added to its industrial land holdings North Texas with the acquisition of Valwood 40 in the Dallas area. Valwood 40 is a 7.2 acre site located in Valwood Park. Valwood Park is a 400 acre, master planned industrial park in the Dallas Market, developed by the Woodbine Development company in the Farmer’s Branch/Carrollton area, less than ... Read More »

Younan Sells Westchase Office Building to Fuller/Harbert

HOUSTON  – Younan Properties has sold 9801 Westheimer, a 211,125-sf, Class A office building in Houston’s Westchase submarket. The buyer was Fuller Realty Partners LLC and Harbert US Real Estate Fund V. 9801 Westheimer is located on the south side of Westheimer Road between Gessner and Elmside Drive close to the Sam Houston Tollway. The 11-story property is 86 percent ... Read More »

Borlenghi Expanding Granduca Hotel Brand to Austin, Then Other Markets

AUSTIN — The Granduca hotel brand is expanding to Austin – and perhaps to other cities – as Houston developer Giorgio Borlenghi has broken ground on the Hotel Granduca Austin, an Italian-styled luxury hotel. The Austin hotel is the first step in what could be a national expansion of the luxury brand, says Borlenghi, the Italian born developer who has ... Read More »

Houston Home Sales Running 4 Percent Higher Than 2013′s Record Pace

HOUSTON – Single-family existing home sales in March were up about 4 percent over March of last year, according to the Houston Association of Realtors. “It’s not slowing down any that’s for sure, and we’re certainly seeing a very positive movement in the upper-end,” says Cheri Fama, president of John Daugherty Realtors. Across Houston, the inventory of home for sale ... Read More »

456-Unit MultiFam Project Sold in Houston’s Westchase District

HOUSTON – HFF announced that it has closed the sale of and arranged financing for Westchase Creek, a 456-unit multi-housing community in Houston’s Westchase District. HFF marketed the property on behalf of the seller, Allen Harrison Company.  An affiliate of Harbor Group International, LLC purchased the asset for an undisclosed amount and assumed an existing Freddie Mac loan. HFF’s debt ... Read More »

Southern Calif. Tower Sells for $102 Million

LONG BEACH, Calif. – Marking its second major Southern California commercial real estate purchase in less than two weeks, San Diego-based Parallel Capital Partners has acquired Shoreline Square, a Class A office tower overlooking the coastline in Long Beach, Calif. The property was purchased for $101.7 million from Guggenheim Real Estate. According to Matt Root, CEO of Parallel Capital Partners, the ... Read More »

Houston Home Building to Churn Until 2018

HOUSTON – Houston has more new home construction than any other city in the nation and the building boom is going to get even more intense in the next few years, before some softness occurs in 2018, a national housing consultant predicts. “Construction is growing much faster here than anywhere else and the economy is much stronger than anywhere else,” ... Read More »

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