Tuesday , 7 July 2015
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450,000 SF Retail Project Breaks Ground in Katy, Texas

HOUSTON – The Retail Connection has broken ground on the Shoppes at Parkwest, a planned 450,000 square foot retail near the Grand Parkway in the Katy community, west of Houston. Construction is underway on the initial 300,000 square feet of the power center, located at the northeast corner of Interstate 10 and Katy Fort Bend Road, catty cornered from Katy ... Read More »

Dallas Firm Buys Multifamily Project in Houston Suburbs

ROSENBERG, Texas — Abode Properties has acquired the 196-unit The Waterford at Summer Park in Rosenberg on the southwest side of Houston. The apartment community, built in 2013, is located near U.S. Highway 59 and the Brazos Town Center. Daniel J. Moos is CEO and President of Abode Properties, which focuses on both acquisition and development of Class A multifamily in high-growth ... Read More »

Whitestone REIT Buys Austin Retail Centers for $45M

AUSTIN — Whitestone REIT of Houston has acquired Parkside Village North and Parkside Village South in Austin for $45 million. The two centers, near the entrance of the Circle C Ranch community off the Mopac Expressway, are 100 percent leased and contain a total of 117,146 square feet. “With this acquisition closed, we have now invested $135 million in the Austin ... Read More »

Greater Houston Partnership Revises Job Forecast

HOUSTON – The Greater Houston Partnership has revised its annual job growth forecast for 2015, issuing a prediction that the Houston area will gain only 20,000 to 30,000 new jobs this year. At the end of 2014, the Partnership had predicted 62,900 new jobs for 2015. In explanation of his downward revision, the partnership’s economist Patrick Jankowski said the North ... Read More »

Home Sales up 36 Percent for LGI

THE WOODLANDS, Texas – Texas-based homebuilder LGI Homes Inc., sold 331 new homes in June, its best monthly sales total ever. That was up 36 percent from the 243 homes sales it closed in June 2014. LGI builds homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina and South Carolina. Read More »

Trendmaker Developing 372-Acre Project in Clear Lake City

HOUSTON – The Reserve at Clear Lake City, a 372-acre project that will have 740 homes has opened in southeast Houston near the Johnson Space Center. Trendmaker, part of the TRI Pointe organization, is developing the project. Trendmaker, Ryland Homes and Village Builders will be constructing houses in the community. Clear Lake City is a 10,000-acre project started in the ... Read More »

Electro Tech Industries Buys Industrial Building

HOUSTON –NAI Partners represented Electro Tech Industries in the acquisition of 115,000 square-foot industrial building located at 303 West Little York in Houston. Founded in 2000, Electro-Tech Industries offers custom design, manufacturing, testing, and field service for electrical power distribution equipment and systems. According to Chris Caudill, with NAI Partners, who represented Electro-Tech Industries in the negotiations, “with this acquisition, ETI has more than ... Read More »

DDR Buys Houston Retail Center for $74 Million

HOUSTON – DDR Corp. acquired Willowbrook Plaza, a 385,000-square-foot power center located in northwest Houston for $74 million. The center, 17355 Tomball Parkway, is adjacent to Willowbrook Mall, one of Houston’s top regional malls. Anchored by Bed Bath & Beyond, the shopping center is 87 percent leased, said DDR Corp, a REIT based in Ohio. The seller was a venture ... Read More »

Griffin Partners Buys Office Building Near Downtown Houston

HOUSTON — Griffin Partners, a Houston real estate firm founded by Fred Griffin, has acquired a seven-story office building in the Sixth Ward area just west of downtown Houston. The 85,923 square foot building, built in 1982, is located at 602 Sawyer Street. Sixth Ward, one of Houston’s oldest neighborhoods, is located north of Memorial Drive and south of Washington ... Read More »

Wyndham Hotel HQ Building Sold for $81 Million

PARSIPPANY, N.J. — The headquarters building of the Wyndham Worldwide hotel organization has been acquired for $81.4 million. Griffin Capital Corp., an El Segundo, Calif.-based REIT, bought the 203,506 square-foot, Wyndham Worldwide corporate headquarters facility in Parsippany, New Jersey (“Property”) from an affiliate of Mack-Cali Realty Corp. Wyndham has been the sole occupant of the building since it was constructed ... Read More »

Hines Working on a $50M Deal to Buy Houston Chronicle’s Downtown Building

HOUSTON – Hines, which has developed more than a dozen projects in downtown Houston, has been negotiating a $50 million deal to acquire the Houston Chronicle property in downtown. The newspaper’s facilities cover 99,184 square feet of land on two city blocks and would be an ideal platform for Hines to construct its next Houston skyscraper. Hearst Corp., which owns ... Read More »

Sustainability: 95 Percent of Small Office Buildings are Brown

LOS ANGELES — Over 95 percent of small office buildings are brown, according to a sustainability certification study by CBRE Group and Maastricht University. The 2015 Green Building Adoption Index, a joint project of CBRE and Maastricht, found that 62.1 percent of office buildings in the U.S. greater than 500,000 square feet are considered “green” (holding either an EPA ENERGY STAR ... Read More »

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