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Monthly Archives: April 2012

3,635-acre Business Park Underway Near Houston Airport

HOUSTON — McCord Development of Houston has announced plans to develop Generation Park, a 3,635-acre business park in near Bush International Airport that is being touted as the largest new commercial development in the nation. The business park will someday contain $5 billion worth of industrial, office, retail and medical space, along with hotel and multi-family development, according to an Houston Business ... Read More »

Industrial Project Sold in Southwest Houston

HOUSTON — Agarita Management bought  Commerce Center, an eight-building, 256,265-square-foot industrial facility in Houston. HFF marketed the properties exclusively on behalf of the seller, Insite Commercial Real Estate. Acquisition financing was secured through American Family Life Insurance, which was arranged by Kirk Oden with Trinity Finance in San Antonio. Commerce Center is located at 9000 Southwest Freeway close to Beltway ... Read More »

Largest Lease Ever in NYC Office History

New York – SL Green Realty Corp.  announced that Viacom Inc. has renewed its commitment at 1515 Broadway by extending and expanding the company’s occupancy at the iconic Times Square tower through 2031. The headquarters lease covers 1.4 million square feet. Viacom’s future expansion is expected to cover the balance of the 1.6 million-square-foot building’s office space after 2020.  One ... Read More »

Paul Layne to Lead Howard Hughes Master Planned Communities Unit

HOUSTON –The Howard Hughes Corp. announced Paul Layne  will join the company as Executive Vice President, Master Planned       Communities. Layne will report to Grant Herlitz, President of The Howard Hughes Corporation, and will be based  in Houston near both The Woodlands and Bridgeland. Previously, Layne was Executive Vice President at Brookfield  Properties Corp., which has a 9.7  million square foot office ... Read More »

Hartman REIT Buys Dallas Area Retail Center

ARLINGTON, Texas  –  Hartman Income REIT, Inc., a Houston based Real Estate Investment Trust, announced that Hartman Short Term Properties XX, Inc. an affiliate, has purchased Cooper Street Shopping Center from Regency Centers, LP. Cooper Street SC – A 127,696 square foot, three  building retail center with a single tenant pad site at the highly desirable intersection of Cooper Street and ... Read More »

$159 Billion in Sales and Leases Earns Top Spot for CBRE

National Real Estate Investor magazine has ranked CBRE Group the No. 1 U.S.-based commercial real estate brokerage firm for the ninth year in a row. The ranking, featured in the publication’s April 2012 issue, is based on the aggregate value of sales and leasing transactions completed globally during 2011. CBRE was responsible for $159 billion of global sales and leasing transactions ... Read More »

Pat Hicks Makes Value-Add Investment in Energy Corridor

HOUSTON –   Hicks Ventures, led by Patrick Hicks, purchase two office buildings in the Energy Corridor of West Houston. The buildings, located at 16350 Park Ten Place and 16360 Park Ten Place, include a total of 141,265 square feet. Managing Director Rudy Hubbard and Vice President Leah Gallagher led the Jones Lang LaSalle Capital Markets team on this transaction.  American ... Read More »

Khoshbin Buys Pair of Office Properties in Houston’s Greenspoint

HOUSTON –  The Khoshbin Company purchased two office buildings in the Greenspoint market in North Houston. The two properties are: 333 North Sam Houston Parkway East and 10700 Interstate 45 North, multi-tenant office buildings totaling 395,424 square feet. 333 North Sam Houston Parkway East and 10700 Interstate 45 North are located within the Greenspoint submarket of Houston close to the ... Read More »

Weingarten Selling Industrial Properties; Announces $382 Million Sale

HOUSTON – Weingarten Realty Investors announced the sale of 52 industrial buildings and warehouses as part of its move to sell off its industrial properties and focus only on retail centers. The Houston-based REIT will sell the properties to DRA Advisors LLC. The portfolio is comprised of 52 industrial  properties, aggregating approximately 9.6 million square feet located in   Florida, Georgia, Tennessee, ... Read More »

Archstone Announces 378-Unit Construction Project in S. Florida

BOCA RATON, Fla. — Archstone,  a major apartment developer,  has acquired a 5.78-acre development site near the Mizner  Park development in Boca Raton, Fla. Archstone plans to build a 378-unit apartment community with 13,448 square feet of retail space on the parcel located along East Palmetto  Park Road at the SE 3rd Avenue intersection just blocks from the Atlantic Ocean beach. Construction is ... Read More »

University of Houston Graduate Real Estate Program Recognized in the ULI Hines National Design Competition

By Ralph Bivins HOUSTON – The University of Houston Graduate Real Estate Program was recognized as a winner  for its financial analysis and proposal in the 2012 Urban Land Institute (ULI) Gerald D. Hines Student Urban Design Competition. Real estate students from 139 teams representing 64 universities in the United States and Canada, with a total of 695 students participated ... Read More »

Major Lease in Houston’s Energy Corridor

HOUSTON – Principal Real Estate Investors and CBRE Group announced that WorleyParsons, a leading global provider of engineering design and project services, has expanded its West Houston by leasing 130,282 sf of office space at the Reserve at Park Ten, a six-story, Class-A office building located at 15721 Park Row in Houston’s Energy Corridor submarket.  CBRE’s Steve Rocher and Cody Armbrister represented ... Read More »

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