Archive for March, 2012

March 28, 2012

RealtyNewsReport.com Named Media Sponsor for the Spring Symposium by University of Houston’s Institute for Regional Forecasting

HOUSTON – RealtyNewsReport.com has been named media sponsor for the 2012 Spring Symposium, the highly respected real estate and economic forecast by the University of Houston’s Institute for Regional Forecasting at the Hobby Center for Public Policy.

The Symposium and luncheon will be held May 8, 2012, from 11:30 a.m. to 1:30 p.m. at the Hyatt Regency Hotel, 1200 Louisiana in downtown Houston

Dr. Ted C. Jones, chief economist of Stewart Title Guaranty Co., will deliver a talk entitled “Houston: NASA Decelerating, but Economy Rocketing, Lubricated by Oil, Gas, Trade, and Other Accelerants — A Real Estate and Economic Outlook for 2012.” Dr. Jones will cover commercial and residential real estate markets, Houston’s manufacturing sector, the port, the European debt crisis, and other economic issues.

In his analysis, Jones will compare Houston’s economy to the rest of the nation, noting that Houston’s employment outpaced the nation’s job growth.

“Houston’s job growth has been very beneficial to the city’s commercial and residential real estate markets,” said Evert Crawford, Director of the Institute for Regional Forecasting. “The economy is moving through a very interesting period of recovery and the interest level is high for the Spring Symposium.”

Interested parties are encouraged to make reservations promptly because the Symposium has sold out in two days in prior years.

Early Bird Registration is $90 per person (payment must be received by April 20.) Individual registration is $110 after that date and $125 at the door (if available).

Corporate tables are $925 for a table of 10, including a table top sign with the company name.

“For many years, the Institute’s Symposium has been the premier economic forecast event in the Southwest.  With a legacy begun by Dr. Barton Smith, and now continued with Dr. Jones, the Institute for Regional Forecasting has set the bar high for insightful and unbiased analysis and forecasting,” said Ralph Bivins, editor of RealtyNewsReport.com, the event’s media sponsor. “This excellence continually attracts the crème de la crème of Houston’s business community and hundreds of business leaders make this a ‘must’ event on their calendars.”

To register: www.uh.edu/irf or 713-743-3869.

 

March 28, 2012

Hines Inks Large Lease in Houston’s Greenway Plaza Area

HOUSTON – Hines, the property and leasing manager for Phoenix Tower in Houston, on behalf of building owner FSP Phoenix Tower Limited Partnership, announced  that New York Life has signed a long-term lease for 33,394 square feet.  Phoenix Tower is a recently renovated, 34-story, 629,000-square-foot office tower located at 3200 Southwest Freeway, near Buffalo Speedway.  With the signing of this lease, the building is now 82 percent leased.

The insurance company was represented in lease negotiations by Chip Horne of Cushman & Wakefield.  Tyler Garrett and Paula Bruns of Hines represented the landlord.

New York Life is the largest mutual life insurance company in the United States, with more than $325 billion in assets under management.

All of the equity interests in FSPLP are owned, directly and indirectly, by FSP Phoenix Tower Corp. (“Phoenix Tower Corp.”), a corporation sponsored by Franklin Street Properties Corp. Phoenix Tower Corp. is a Delaware corporation formed to purchase, own, operate, improve and reposition Phoenix Tower in the marketplace.  Phoenix Tower Corp. is a public reporting company. PhoenixTower is not owned by FSP.

FSP and its affiliates own and operate approximately 1.5 million square feet of Class A office space in greater Houston, including The Offices at Park 10, Energy Tower I, and Eldridge Green (CITGO’s corporate headquarters).  FSP is based in Wakefield, Mass.

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March 28, 2012

Del Taco to Open 40 Locations in Houston

HOUSTON – Del Taco, the No. 2 fast service Mexican chain, announced plans to open 40 outlets the the Houston area.

Del Taco began its Texas expansion in the Dallas/ Ft. Worth market. Over the past 18 months, Del Taco has opened seven locations including Dallas, Denton, Hurst, McKinney, Plano and Watauga

On Wednesday, Del Taco  opened its first Houston location at 8910 Westheimer Road, Houston and is owned and operated by RPM Hospitality LLC, whose principals include Pramod Patel, Purendra Patel, and Rahul Patel. This is the first of three locations planned by RPM Hospitality LLC.

Del Taco has more than 530 restaurants in 17 states.

Del Taco serves a range of Mexican offerings of tacos, burritos, quesadillas and nachos as well as American favorites like burgers, crinkle-cut fries and shakes. All menu items are made to order using fresh ingredients including freshly grated cheddar cheese from 40 pound blocks, hand-made pico de gallo, slow-cooked lard-free beans and marinated chicken grilled throughout the day. Del Taco also serves breakfast and most restaurants are open 24 hours with a drive thru. Del Taco restaurants serve more than three million customers each week.

Additional information about Del Taco can be found at www.deltaco.com

 

March 27, 2012

Another New Office Building in Houston’s Energy Corridor

HOUSTON — Wile Interests and Stream Realty are reportedly preparing to break ground on a 250,000-square-foot office building in the Energy Corridor area of West Houston. Jennifer Dawson of the Houston Business Journal reports that the building will be constructed on a 12-acre site at the southeast corner of Interstate 10 and Greenhouse Road.

The Energy Corridor in West Houston is home to scores of energy companies headquarted in Houston, which calls itself “The Energy Capital of the World.”

In addition, Phillips 66 is searching for land in the Energy Corridor for its new headquarters building. The Energy Company will build a new corporate campus to accomodate the pending split of ConocoPhillips into two separate companies.

In the Westchase District of West Houston, Granite Properties will begin construction soon on a 12-story building at 3141 Briarpark Drive.

The vacancy rate is below 10 percent in much of West Houston and energy companies have been adding personnel.

 

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