Tuesday , 28 July 2015
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Venterra Buys 420-Unit Project In Houston

HOUSTON – Venterra Realty has acquired the Preserve at Colony Lakes, a 420-unit multifamily community in Stafford, Texas, about 20 miles southwest of downtown Houston. Holliday Fenoglio Fowler worked on behalf of Venterra Realty to secure the seven-year, 3.22 percent, fixed-rate loan with a life company correspondent lender.  Loan proceeds were used to acquire the asset by Venterra, which has ... Read More »

MOD Pizza Opening 30 Locations in Houston

HOUSTON – MOD Pizza has leased five retail locations in Houston and it plans to open 30 locations in Texas within the next four to five years, according to the Transwestern real estate firm. Transwestern’s Grant Walker, vice president, and Chris Reyes, broker associate, who serve as exclusive advisors for MOD Pizza in the Houston market, represented the retailer in ... Read More »

New Office Building for Pearland Town Center Near Houston

PEARLAND, Texas – CBL Properties, a REIT based in Tennessee, is developing a 60,000-square-foot office building in Pearland Town Center, a large mixed-used project just south of Houston. The existing office space in the project is 96 percent leased and rents are strong, reports broker Lilly Golden of Evergreen Commercial Realty. Pearland Town Center had the misfortune of opening in ... Read More »

CBRE: Retail Activity Surges in Houston Suburbs

HOUSTON – Retail sales are up sharply in the suburbs of Houston, where a number of new retail centers are being planned, reports the CBRE Research. Five years of explosive population growth continues to drive consumer spending in the Houston region in both the dense urban core and rapidly expanding suburban counties. CBRE Research reported retail sales tax revenues climbed as ... Read More »

Hotel News Briefs

ALOFT HOTEL TO OPEN IN HISTORIC HOUSE AT IMPERIAL MARKET SUGAR LAND, Texas — A 120-room Aloft hotel will be part of the new Imperial Market, a redevelopment of historic structures in the former Imperial Sugar Refinery near Houston, the Houston Chronicle reports. The historic, eight-story Imperial Sugar Char House was built in 1925. Imperial Market will be an upscale ... Read More »

Office Tenants Getting Free Rent in Houston

HOUSTON – Landlords are offering free rent in many office leases in Houston, where a contraction in the energy industry has created softness in the office market, although other sectors of Houston commercial real estate are surging, according to CBRE. Companies signing leases for Houston office space in Houston in 2015 are often receiving six to 12 months of free ... Read More »

CBRE Handles $111 Million Refi of Abbey Multifamily in Houston

HOUSTON –CBRE Capital Markets’ Debt & Structured Finance team has arranged $111 million in refinancing for a 1,254-unit, three-property multifamily portfolio in Houston. The properties included in the transaction are: The Abbey at Barker Cypress, located at 1760 Barker Cypress Road, Houston, Texas. The Abbey at Enclave, located at 1910 Westmead Drive, Houston, Texas. The Abbey at Briargrove, located at ... Read More »

Multifamily Deals

AUSTIN INVESTMENT FIRM BUYS 327-UNIT APARTMENT COMPLEX SAN ANTONIO — Brixton Santa Fe SA, LLC, an Austin investment group, has purchased Santa Fe Place, a 327-unit apartment complex in northwest San Antonio. The 7-acre property at 4210 Fredericksburg Road was built in 1974. SFP Apartments, LLC, was the seller. ……………………………………… MARCUS & MILLICHAP ARRANGES SALE OF DELUXE UNITS IN WACO WACO, ... Read More »

Houston Added 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, the overall unemployment rate is low. The unemployment rate stood at 4.3 percent in June, an improvement from 5.3 percent a year earlier. Houston gained over 100,000 ... Read More »

Historic Stowers Furniture Building in Downtown Houston Being Redeveloped into Aloft Hotel

HOUSTON – The historic Stowers Furniture building in downtown Houston is being redeveloped into a 173-room Aloft hotel. Built in 1913, the 10-story Stowers building is located at 820 Fannin at Walker Street adjacent to the BG Group Place tower. Construction is underway and the Aloft hotel, part of the Starwood Hotels chain, will open next summer, said Houston developer ... Read More »

The Surprise Deal of the Year: A Conversation with Sue Rogers

Cresa principal Sue Rogers just put together a deal that some thought would be impossible in the summer of 2015 – a new office building being started near Houston’s Energy Corridor. Rogers, along with Cresa colleague Steven Heal, represented Cemex, the Mexican cement and building materials giant, which will anchor a new office building to be developed by MetroNational in ... Read More »

Houston Gained 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June alone, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, where there have been layoffs for the blue-collar workers who produce drill bits and oilfield equipment, the unemployment rate is low. The Houston area unemployment rate ... Read More »

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