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Monthly Archives: June 2012

NAREE Conference: Realty in Recovery

By Ralph Bivins DENVER – The consensus emerging from the National Association of Real Estate Editors 46th annual conference is the real estate market has stabilized and is recovering from its ugly slide that began about four years ago. “You’re going to see an excellent housing recovery,” said Margaret Kelly, chief executive officer of Re/Max, in a speech to the ... Read More »

Younan Sells West Loop Tower

HOUSTON – ROC Bridge Partners, LLC of Salt Lake City has purchased the 1700 West Loop South office building in Houston from Younan Properties and joint venture partner Passco Cos. The building is a  Class A 272,000-square-foot office high-rise attached to the Marriott Hotel. Younan Properties was represented by Darrell Betts of Avison Young in the transaction. ” This is ... Read More »

Dutch Firm Developing Spec Office in Houston’s Energy Corridor

HOUSTON – Stena Realty Group, an Amsterdam-based firm, will develop two office buildings in the Energy Corridor area of west Houston, according to a report by the Houston Business Journal. The two buildings will contain a total of 350,000-square-feet. The project will be located adjacent to Shell Oil’s Woodcreek campus. The project will be located on Wickchester Lane, just south ... Read More »

Lionstone Buys Pair of Buildings in The Woodlands

HOUSTON – The Lionstone Group, a private real estate investment firm purchased the Waterway Plaza I & II office buildings in The Woodlands, north of Houston. The two Class A office buildings contain a total of 366,000 square feet. Trent Agnew, Robert Williamson and Jeff Hollinden of Holliday Fenoglio Fowler represented the seller, Daymark, in the transaction. Lionstone previously owned ... Read More »

Construction Starts on Another Building in 1.76 Million SF Research Forest Lakeside

  HOUSTON – JD Warmack LP has broken ground on Research Forest Lakeside – Building 4,  a 12-story, 300,000-sf spec office building in The Woodlands.  Talisman Energy leases six floors of the building. The building is part of the 76-acre Research Forest Lakeside project that will include 10  office buildings, convenience retail and will total over 1,798,398 square feet upon completion. “This ... Read More »

Hearst Tower in Charlotte Sold for $250 Million

CHARLOTTE, N.C. — The 47-story Hearst Tower in Charlotte has been purchased by Orlando-based Parkway Properties for $250 million. The $250 million, or $257 per square foot, purchase price of Hearst Tower represents a significant discount to replacement cost.  The 972,000-sf building is 94 percent leased. Parkway, a REIT, purchased the tower from Bank of America. Parkway financed the purchase in part ... Read More »

Hines Sells Denver Office Project

DENVER – Hines has sold its Mountain View Corporate Center, a four-building, 461,438-square-foot, Class A office development in Broomfield, Colorado. Westfield Capital Partners purchased the property. The property is 92 percent leased to tenants such as Time Warner Cable, TransFirst and White Wave Foods.  Situated on 27 acres of land, the property is located on Airport Way next to Rocky ... Read More »

Exxon Mobil Moving 2,000 to Houston from Fairfax, Va. and Akron

By Ralph Bivins HOUSTON – Exxon Mobil will relocate 2,000 employees from Fairfax, Va. and Akron, Ohio, to its new 385-acre corporate campus which is under construction on the north side of Houston, the energy firm announced in a press release. Some 10,000 Exxon Mobil employees will work at the new corporate campus, about 8,000 of them relocated from other ... Read More »

Spec Office Project Under Construction In Houston’s Energy Corridor

By Ralph Bivins HOUSTON — With no tenants signed, Myers Crow & Saviers, Ltd., will begin construction on the 135,000-square-foot Mason Creek Office Center near Interstate 10 west of Houston in the red-hot Energy Corridor office market. West Houston, along Interstate 10 is known as the Energy Corridor because scores of energy related companies and engineering firms involved in drilling ... Read More »

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