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Monthly Archives: December 2011

Boxer Buys Building in NW Houston

HOUSTON –  Houston-based Boxer Property  has purchased the eight-story Wells Fargo Building at 13201 Northwest Freeway in Houston. The 134,766 square foot  office building has a current occupancy of 64 percent and boasts full service Class A amenities. 13201 Northwest Fwy is located near the Northwest side of Houston, at the corner of Hwy 290 and Hollister, midway between Loop 610 ... Read More »

Hines Global REIT Buys Seattle Office Buildings

SEATTLE – The Seattle office of Hines, the international real estate firm, announced  that Hines Global REIT has acquired Fisher Plaza, a two-building office complex in Seattle, from Fisher Media Services Company, a wholly-owned subsidiary of Fisher Communications, Inc.  Hines will assume property management responsibilities on behalf of Hines Global REIT.  Completed in 2003, Fisher Plaza contains a five-story building and ... Read More »

Hotel Zaza Refinances $50 Million

HOUSTON – HFF has arranged a $50 million refinancing for Hotel Zaza, a 315-room luxury hotel in Houston’s Museum District. HFF worked on behalf of the owners of Hotel Zaza to secure the 10-year, fixed-rate loan through Goldman Sachs Commercial Mortgage Capital, LP.  Hotel Zaza is located at 5701 Main Street adjacent to the renowned Texas Medical Center and Rice ... Read More »

Boxer Buys Two Dallas Office Buildings

 Dallas – Houston-based Boxer Property acquired two office buildings in Dallas — Office Alpha in North Dallas, 13140 Coit Road and 14800 Quorum in the Quorum Business Park.   Office Alpha is 101,977 square foot five story office building currently 84 percent occupied and boasts numerous recent renovations. Office Alpha is centrally located just a few minutes of the Dallas ... Read More »

Fuller Buys Another Building in Houston’s Bering/San Felipe Area

HOUSTON – The 1800 Bering office building near Houston’s Galleria area has been sold to a Fuller Realty Advisors joint venture group, according to a report in the Houston Chronicle. The 10-story, 171,000 square-foot building was constructed in 1982. The project is  is 85 percent leased with Flagstone Financial Services and Prudential Insurance Co. are among the tenants, according to the story ... Read More »

Chiquita Banana Facility and Adjacent Miami Land Sold for $57 Million

MIAMI, Fla/ – HFF handled the sale of 22 acres of land within Midtown Miami comprised of 16 acres within the 56-acre Midtown Miami development and the six-acre former Chiquita Banana facility bordering the development. HFF marketed the property on behalf of the seller, Midtown Equities, LLC.  Midtown Opportunities, LLC, a private investment group, acquired the land for $57.25 million in an ... Read More »

Americans Still Believe Buying a Home is a Good Investment

Despite problems plaguing the U.S. housing market such as tumbling values, record foreclosures, and tight credit for buyers, 74% of Americans believe home buying is a good investment. And 81% said it’s still part of the American dream according to a new survey from Yahoo! Real Estate.  The survey, which polled 1,500 current and aspiring homeowners, plus renters, found that while ... Read More »

Survey: Apartments to be Top Investment for 2012

Multi-family is the most favored real estate investment, according to a 2012 Outlook survey by Jones Lang LaSalle. Rising rental rates combined with declining home ownership rates point to strong apartment investment activity in the year ahead,, according to respondents of Jones Lang LaSalle/RealShare Apartments Outlook 2012 Survey. The survey, completed by more than 150 private investors, real estate brokers, ... Read More »

Houston Industrial Building Sold

HOUSTON — Satsuma Distribution Center located at 9020 Jackrabbit Road in the Northwest submarket has been sold.  John Nicholson of Transwestern represented the buyer in the transaction, KTR Capital Partners. The seller, an affiliate of Pinpoint Commercial, was represented by Jeff Everist and Gray Gilbert of CBRE. The property was purchased for an undisclosed amount. Satsuma Distribution Center is a  ... Read More »

Shell Signs the World’s Biggest Office Lease of 2011: 1.2 Million SF in Houston

HOUSTON — Shell Oil, in the world’s largest office lease of 2011, has renewed its 1.2 million square foot lease in One Shell Plaza and Two Shell Plaza in downtown Houston. Shell has executed a lease renewal at One Shell Plaza for 804,491 square feet and at Two Shell Plaza for 471,934 square feet, for a total of 1,222,425 square feet.  The ... Read More »

SL Green Buys Grand Central Tower

New York, NY – SL Green Realty Corp., New York City’s largest commercial office landlord, has acquired all of the interests in 51 E. 42nd Street, an 18-story Midtown Manhattan office building that faces Grand Central Terminal along Vanderbilt Avenue.With this transaction, SL Green now owns all of the buildings on the block bounded by Madison and Vanderbilt Avenues between ... Read More »

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