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Monthly Archives: January 2012

Hines/J.P. Morgan Joint Venture Buys Plano Office Building and Development Site

DALLAS — Hines –  in a new joint venture with institutional investors advised by J.P. Morgan Asset Management – Global Real Assets, the acquisition of The Plaza at Legacy.  Formerly known as Computer Associates, the seven-story, 215,499-square-foot office building is located in the LegacyBusinessPark, in the Far North Dallas submarket of Plano, Texas.  A future development site,   an adjacent 12-acre ... Read More »

Grubb & Ellis: Dallas Office Market Showing Improvement

DALLAS – The Dallas-Fort Worth office market vacancy rate decreased to 21.7 percent during 2011, a decline of 110 basis points from the prior year, according to Grubb & Ellis. The Grubb & Ellis report said: The vacancy rate for Class A office space decreased 60 basis points to 20.2 percent in the last 12 months, marking the sector’s lowest ... Read More »

Miami Group Buys 800,000-sf Brookhollow Office Complex in Houston

HOUSTON –  Parmenter Realty Partners has acquired Brookhollow Central, a three-building office complex totaling 800,000 square feet, on the northwest part of Loop 610 in Houston, according to a report by Katherine Feser of the Houston Chronicle. The seller was  TPG CalSTRS, a joint venture of Thomas Properties Group and the California State Teachers Retirement System. Miami-based Parmenter also owns the ... Read More »

Houston Home Sales Rebounded in 2011

By Ralph Bivins HOUSTON — Houston’s home sales were up 4 percent in 2011, over the prior year, the Houston Association of Realtors reported Tuesday. The city’s strong job growth, boosted by the energy industry, provided the basis for the rebound. With another increase in December, Houston ended 2011 with seven consecutive months of sales increases. “2011 ended on a ... Read More »

Texas Apartment Roundup

 HOUSTON – Crossbeam Capital bought the 348-unit Enclave at Woodbridge Apartments, 15015 W. Airport Blvd. in the Sugar Land area on Houston’s southwest side.  Crossbeam, formed as a result of the meger of Maryland-based Crossbeam Capital and Houston-based Concierge Asset Management, has been active in Texas multifamily recently. SAN ANTONIO – Hendricks & Partners  announced the sale of Reserve in ... Read More »

New $50 Million Headquarters Underway for Realogy

MADISON, N.J. — A 280,000-sfoot building is being constructed in Madison, N.J. to serve as the headquarters of Realogy, the parent company of Century 21, ERA, Coldwell Banker and Better Homes & Gardens. Realogy, one of the biggest names in residential real estate, has a total 253,000 sales associates doing business in 101 countries around the world under its various ... Read More »

New Office Tower Planned in Houston’s Four Oaks Place

HOUSTON – A 30-story, 525,000-square-foot office building is planned for the Four Oaks Place office park in the Uptown/Galleria area of Houston. The site, 1550 Post Oak Blvd., is now occupied by a 24-Hour Fitness Center. TIAA-CREF owns the site and Transwestern is expected to be involved in overseeing the new project. In 2008, Transwestern was part of a group ... Read More »

Houston Office/Warehouse Construction Planned

HOUSTON – Vickery-Aldine Bender, LLC, a United Equities sponsored entityhas acquired 4 acres of land to be developed into a multiple building industrial project totaling 42,720 square feet of Office/Warehouses. The site is at the northeast corner of Vickery Drive and  Aldine Bender Road in Houston. Tom Condon, Jr. with BETZ Commercial Brokerage, Inc. represented the Seller and Anthony Clay with ... Read More »

Houston Proposing Hotels and Expansion to Convention Complex

By Ralph Bivins HOUSTON – A major expansion to Houston’s downtown convention center district calls for the construction of three new hotels, a new wing to the George R. Brown Convention Center and other new development, according to a report in the Houston Chronicle. Houston First, an organization supported hotel tax and tourism revenue, is promoting the plan. Houston First could support ... Read More »

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