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Monthly Archives: August 2012

Texas Assn. of Realtors Head Shad Bogany Merges with Better Homes & Gardens Firm

HOUSTON – ERA Bogany Properties, a  Houston-area firm led by Shad Bogany, the chairman elect of the Texas Association of Realtors, is merging with the Better Homes and Gardens Real Estate Gary Greene company. Shad Bogany has led ERA Bogany Properties to be the top ERA broker in Houston and one of the top ERA franchises in the country. Shad ... Read More »

1 Million SF Portfolio Sold in Houston

HOUSTON– Mayfield Properties purchased a 1 million-sf industrial portfolio in Houston. The seller was DCT Industrial Trust Inc. The  13-property portfolio is 98 percent occupied by 46 tenants. The properties are:  Corporate IV      12603, 12613 Executive; 79,252 sf; Stafford Julie Rivers at 505, 525 Julie Rivers Rd. and 12505      Reed Rd.; 219,703 sf; Sugar Land Greenbriar at 4000 ... Read More »

Houston Home Sale Surge Continues in July: No End in Sight to the Run

By Ralph Bivins Houston home sales increased 27 percent in July, the 14th month in a row that sales have been up, according to the Houston Association of Realtors. The momentum in the market, driven by solid job growth, is showing no signs of tapering off later in 2012. The inventory of homes for sale is dropping sharply. The Houston Association ... Read More »

Steve Jaggard Closing Doors of Vantex Realty Firm

HOUSTON – – Vantex Commercial Property Group, formerly Vantage Houston, is closing its Houston operation this fall, according to company president and CEO, Steve Jaggard, who has been active in Texas real estate for many years. Vantex and its predecessor, Vantage Houston, was one of the largest industrial development groups in the Houston market. Vantex has developed over 5 million square ... Read More »

Magic Johnson Group and Midway Buy Downtown Houston Project

By Ralph Bivins Canyon-Johnson, a group headlined by former Los Angeles Lakers star Magic Johnson, and Houston-based developer Midway have acquired the Houston Pavilions mixed-used project in downtown Houston. The 560,000-sf project, built in 2008, covers several blocks near the intersection of Fannin and Dallas streets. The property, developed with government assistance designed to enhance downtown, was taken into receivership last ... Read More »

Hines Developing Midrise Apartment near Houston’s Galleria

HOUSTON – Hines, the international real estate firm, along with joint venture partner, Hines Global REIT,  will build WaterWall Place, a seven-story, 316,000-sf, 322-unit  for-rent residential project in Uptown Houston, adjacent to the Galleria mixed-use development. The apartment building will be located on a three-acre site at the northeast corner of Hidalgo Street and McCue Road, overlooking the Gerald D. Hines Waterwall Park. ... Read More »

Granite Buys Houston Office Building

HOUSTON – Granite Properties purchased a 237,000-sf office building at 3555 West Alabama in the inner loop of Houston, the Houston Chronicle reported. The seller was KBS Realty Advisors. The 12-story building is 94 percent leased. Ken Page of Transwestern represented the seller. The building is in the Greenway Plaza area between downtown and the Galleria. Separately, in West Houston, ... Read More »

Texas Gulf Industrial Property Report

HOUSTON – Levey Construction is building several tilt-wall office/warehouse buildings on seven acres in Northwest Place Industrial Park at West Little York and Bingle Road. PASADENA, Texas  – A-International Distribution leased 100,000 sf of warehouse space in Baywood North Distribution Center II at 4331 Underwood in Pasadena.  Walter H. Menuet Jr. represented landlord Mountain West Industrial Properties. Bob Berry of ... Read More »

Landmark Woolworth Skyscraper Sold for Condo Conversion

NEW YORK — The top floors of the historic Woolworth Building, the world’s tallest skyscraper until 1930, have been acquired for conversion into high-end residential units. Constructed in 1913, the iconic 58-story Woolworth Building is one of the most recognizable buildings in the world.  With its ornate neo-Gothic spire rising above City Hall on lower Broadway, the Woolworth Building was designated ... Read More »

Verde Realty of Houston to be Purchased for $366 Million

HOUSTON – Verde Realty, a Houston-based REIT, will be purchased by Brookfield Asset Management and Hillwood Investment Properties for $366 million. Verde Realty owns 78 industrial properties in Texas, California, suburban Chicago, Maryland, Utah and northern Mexico. “This merger transaction with Brookfield ensures that Verde is well-positioned to benefit from renewed demand for industrial space which will increase as the ... Read More »

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