Saturday , 10 October 2015
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Transwestern/RBJ Close Deal in Boston’s Biotech Office Market

BOSTON – Transwestern | RBJ brokered the disposition of 1 Patriots Park, a 144,230-square-foot office building on Wiggins Ave. in Bedford, Massachusetts. Longfellow Real Estate Partners acquired the property for $11.3 million, or $78 per square foot, and plans to redevelop it into a Class A laboratory building. Chris Skeffington, John Wilson, Jon Varholak and Roy Sandeman of Transwestern | ... Read More »

Hines New York Condos Priced from $3 Million to $70 Million in Upscale Site Next of MoMA

NEW YORK – Home prices in Hines’ new condominium tower next to the Museum of Modern (MoMA) in New York will range from $3 million to $70 million. The Houston-based real estate firm, together with development partners Goldman Sachs Investment Group and Singapore-based Pontiac Land Group, announced the grand opening of the sales gallery for the tower, called 53W53. The 1,050-foot-high ... Read More »

E-Commerce Creates Thrice as Much Demand for Warehouses, ULI Panel Says

SAN FRANCISCO – The sale of goods via the Internet is having a profound impact on the industrial real estate markets because e-commerce creates a greater need for warehouses, says Hamid Moghadam, chairman of Prologis Inc., one of the world’s largest warehouse companies. E-commerce sales require three times as much warehouse space as sales completed in regular brick-and-mortar stores, said ... Read More »

Houston Falls From Top Ranking to No. 30; While Dallas and Austin and No. 1 & 2, in ULI Emerging Trends Forecast

SAN FRANCISCO – Houston fell from being the top real estate commercial market in the nation last year to No. 30 in the 2016 rankings, while two other Texas cities ranked at the top of the 2016 national investment rankings — Dallas and Austin ranked No. 1 and No. 2 —  according to Emerging Trends in Real Estate 2016, co-published ... Read More »

Westmount Realty Capital Buys Multifamily Project in SE Houston

HOUSTON – Westmount Realty Capital of Dallas acquired the 376-unit Summer Cove Apartments, a Class B complex in southeast Houston near Ellington Field. Westmount has renamed the apartment community, built in 1983, Westmount at Summer Cove. A CBRE report recently noted that Houston’s Class B apartment market is very strong. At the Summer Cove Apartments, occupancy averaged 96 percent over ... Read More »

Houston’s Medical Construction Boom May Be Winding Down

HOUSTON – The healthcare construction boom in Houston’s suburbs is going to slow down somewhat as medical organizations’ building programs have caught up with city’s population expansion. “I think construction is slowing,” says Marshall Heins, chief facilities service officer of Memorial Hermann Health System, which is building or has recently completed a number of major suburban hospitals. “We’re probably going ... Read More »

Texas Journalist Pam Yip Passes

Texas Journalist Pam Yip passed away Sunday after an illness. She was 59. For the last 16 years, Pam covered personal finance for the Dallas Morning News. Pam was one of the hardest working journalists in the business. She was always kind, cheerful and even-tempered and she could brighten a gray day with a friendly word. Pam worked for United ... Read More »

Randall Davis Condo Tower in Houston Set for Groundbreaking

HOUSTON – Transwestern has arranged the construction financing for the Arabella, a 99-unit condominium tower to be developed on the southeast corner of San Felipe Road and Westcreek Lane in Houston’s Inner Loop. The 33-story property is scheduled for completion in the fall of 2017. Transwestern Managing Directors Jan Sparks and Michael Snodgrass arranged the financing on behalf of developer ... Read More »

A Year Before Opening, Houston’s New Convention Hotel Books an Amazing 200,000 Room-Nights

HOUSTON – Boosted by the 2017 Super Bowl, the new 1000-room Marriott Marquis Houston, which will open next year, has booked almost 200,000 room-nights, a phenomenal amount of advance business, a hotel executive says. The downtown hotel, which will be linked by skybridge to the convention center, has booked a sizable number of rooms for the Super Bowl. But the ... Read More »

Making Mixed-Use Work in Downtown Houston: The Q&A with Jane Page of Lionstone Investments

With more than 570,000 square feet of office and retail space, GreenStreet is one of the most interesting developments in downtown Houston.  Two weeks ago, Lionstone Investments, a privately-owned, Houston-based real estate investment firm, purchased an interest in the GreenStreet development, which was known as Houston Pavilions when it opened about seven years ago. GreenStreet, which has entertainment venues, restaurants ... Read More »

Hotel ZaZa Under Construction at MetroNational’s Memorial City in Houston

HOUSTON – MetroNational, a Houston-based real estate company, has partnered with Z Resorts to build Hotel ZaZa to Memorial City at the intersection of Interstate 10 and Bunker Hill Road in west Houston. Slated to open in the summer of 2017, the 17-story project will have 159 hotel rooms and 130 apartment units. Kirksey Architecture will oversee the design and ... Read More »

Hines, Institutional Partner Buy Atlanta Project for $195M

ATLANTA -– Hines, the Houston-based real estate firm, on behalf of an institutional investor, closed on the acquisition of Town Center at Atlantic Station retail center in the Midtown area of Atlanta. The 586,000-square-foot Town Center anchors a mixed-use development, situated on the former Atlantic Steel site, which also includes three Class A office towers, several multifamily communities, a full-service ... Read More »

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