Friday , 29 July 2016
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Massive Prologis Warehouse Project Hits 100 Percent Occupancy

HOUSTON – The 2 million SF Prologis warehouse portfolio in the West by Northwest Industrial Park has reached 100 percent occupancy, according to Transwestern, the Houston-based commercial real estate firm. “We are pleased to bring this assignment to full occupancy,” said Darryl Noon, senior vice president of Transwestern. “Despite some of the national attention Houston is receiving regarding economic uncertainties, ... Read More »

Freeway/Park Concept Could Lead to Growth in EaDo Near Downtown Houston

HOUSTON – Freeways can create impenetrable barriers for development. Freeways can serve as effective borders between neighborhoods of mansions and blighted slums. So naturally, altering the freeways can change growth patterns and change cities. It’s a concept being discussed by Houston civic leaders and the Texas Department of Transportation and it could change downtown Houston and the surrounding urban areas. ... Read More »

Office Lease Signed in West Houston

HOUSTON – Lubrizol leased 50,000 SF in the One Briarlake Plaza building at 2000 W Sam Houston Parkway in the Westchase market of west Houston. Lubrizol signed a lease for the entire third and fourth floors of the 20-story building. The Wickliffe, Ohio-based chemical company, originally leased 38,133 SF in the office building. JLL Vice President Ryan Barbles represented the ... Read More »

Pasadena Center Sold

PASADENA, Texas –  Allendale Shopping Center, LP has sold the Allendale Shopping Center in the Pasadena community to SJGZ Investments. The center is located at 2000 and 2131 Richey Street. Allendale Shopping Center, LP was represented by Marshall Clinkscales of Colliers International.  The buyer was represented by Matt Moake of HighStreet Net Lease Group. The center is on the east side ... Read More »

Condos are a Hot Commodity with Texas Homebuyers

(By Dale King) AUSTIN — Condominium sales in Texas’ major metro areas increased during the first half of 2016 as baby boomers, retirees and millennials discovered revived downtown areas where workplaces, restaurants, shopping opportunities and entertainment spots have re-staked their claims, says the Condominium Mid-Year Sales Report released by the Texas Association of Realtors. Austin, Dallas, Houston and San Antonio ... Read More »

Spec Construction: Crane-Served Industrial Building Coming to West Side of Houston

HOUSTON – Vigavi West Ten has broken ground on a 22,500 SF speculative crane-ready industrial building at West Ten Industrial Park in Katy, west of Houston. “We have seen demand pick up for crane-ready buildings in West Houston,” says Luis Villarreal, managing prinicipal for Vigavi Realty. In 2015, the Parkside Capital, in partnership with Vigavi, purchased 35 acres for the ... Read More »

Q&A – Teresa Lowery of Colliers: The Highs and Lows of Today’s Multifamily Market

Houston’s multifamily market has seen better times. The sector’s pricing is weak, rent growth is close to disappearing and multifamily construction continues unabated. Free rent is being offered in some neighborhoods.  Can the situation get worse?  Or better? To find out where the multifamily investment market is headed, Realty News Report talked with Teresa Lowery, Senior Managing Director, multifamily, in the Houston ... Read More »

Johnson Teams With Tricon to Buy 1,700-Acre Master Planned Community

McKINNEY, Texas – A partnership of The Johnson Development Corp. and Tricon Capital Group Inc. has purchased the McKinney, Texas master-planned community of Trinity Falls, the newest and largest master-planned development in Collin County near Dallas. Houston-based Johnson Development and Tricon purchased the 1,700-acre community from Castle Hill Partners, an Austin private investment firm. Upon full build-out, Trinity Falls will ... Read More »

Chevron Selling Huge Tract on Loop 610

BELLAIRE, Texas – Chevron Corp. is vacating its 28-acre campus on Loop 610 in Bellaire, creating a prime development opportunity about two miles south of The Galleria. The Chevron site, which has a 10-story building and huge expanses of manicured lawns, represents one of the largest parcels of available land in the Inner Loop area of Houston. The property is ... Read More »

Colliers: Office Vacancy Soars in Houston Suburbs

HOUSTON – Houston’s office vacancy rate jumped sharply in the second quarter, jumping to 16.2 percent, up from 14 percent in the second quarter of last year, according to the Colliers International real estate firm. The downturn in the energy industry forced thousands of layoffs and companies emptied great blocks of office space. Tenants are renewing existing leases, but more ... Read More »

Hines Sells California Tower for $616 Per SF

LOS ANGELES – Hines has sold the 12100 Wilshire building in the Brentwood area of Los Angeles for $225 million or $616 per SF. The 19-story building was purchased by a joint venture of the Douglas Emmett Inc. REIT of Santa Monica, Calif. and the Qatar Investment Authority. Hines, on behalf of its U.S. Office Value Added Fund II, acquired ... Read More »

Vacation Homes: The Secret is Generating Income

(By Dale King) AUSTIN – Vacation homes are proving to be valuable resources for their owners, even when the possessor families are not using them for their own leisure time, says a report created by an Austin-based vacation rental firm. “The most consistent statistic” observed in HomeAway’s 2016 Vacation Rental Report “is the ability for homeowners to cover the cost ... Read More »

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