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Monthly Archives: November 2012

Woodway Office Building Sold in Houston

  HOUSTON – A Houston office building, 4900 Woodway, a 119,127-square-foot, 12-story office building in Houston’s West Loop area, has been sold for an undisclosed price. HFF represented the seller, Fidelis Realty Partners, Ltd. and BayNorth Capital LLC in the sale of the property to 49 Woodway LLC. HFF also arranged a fixed-rate acquisition loan on behalf of the buyer ... Read More »

Hines Outsources Texas Office Leasing to Colvill

HOUSTON – Hines’ Southwest Region has hired Colvill Office Properties to direct leasing and marketing of its owned or managed portfolio of 15 buildings in Houston and Dallas, representing 12 million sf of Class A office properties. Colvill will add seven of Hines’ Texas leasing team members to its roster. “Outsourcing leasing responsibilities to Colvill Office Properties is a strategic move that ... Read More »

Fein to build 500 Units near Highland Village in Houston

By Ralph Bivins HOUSTON – Martin Fein Interests, a Houston apartment developer, has announced plans for a 550-unit development in Houston’s Inner Loop with a project just south of the Highland Village shopping center. The site is a10-acre tract at West Alabama and Las Palmas. Fein’s project, called Willowick Park, will have three elements: Aria at Willowick Park, a seven-story ... Read More »

Houston Home Sales Surge 35 percent in October

By Ralph Bivins Houston residential sales increased 35 percent last month over October 2011, according to the Houston Association of Realtors. Prices rose sharply and the inventory of homes for sale dropped to its lowest level in 11 years. The realty market is demonstrating an exceptional surge that is surprising veteran real estate pros. “It’s incredibly, incredibly busy. The market seems ... Read More »

Granite Sells Westchase Buildings for $154.7 Million

HOUSTON – Franklin Street Properties  purchased two buildings in the Westchase submarket of west Houston for a purchase price of $154,750,000. The office property is located at 10370 and 10350 Richmond Avenue and consists of two, 14-story, multi-tenant office buildings containing an aggregate of 629,022 sf and a parking garage located on 6.5 acres of land. Completed in 1983 and 2008, ... Read More »

Los Angeles Group Buys Austin Acreage

AUSTIN – Karlin Real Estate has acquired 297 acres – one of the largest parcels of developable land in northeast Austin – for a master planned technology and office park. The site, located near Interstate 35,  is bordered by McCallen Pass on the West, E. Howard Lane on the North, Harris Ridge Boulevard on the East and Tech Ridge Boulevard ... Read More »

Credit Suisse Makes First Houston Office Deal

HOUSTON – The 777 Post Oak Boulevard building, a 176,799-sf office building in Houston’s Galleria/West Loop submarket,  has been sold to Credit Suisse fund, the first Houston play for the group. HFF marketed the property on behalf of the seller, an institutional owner. An international investing real estate fund managed by Credit Suisse AG in Switzerland purchased 777 Post Oak ... Read More »

Energy Corridor Multi-Fam Purchased

HOUSTON – Cortland Partners of Atlanta has acquired Newport on the Lake, a 234-unit multi-family community located in Houston’s Energy Corridor. The development includes 252,768 square feet of rentable space with an average unit size of 1,080 square feet. Ryan Epstein of CBRE represented the seller, Santa Monica, California-based Columbus Pacific Properties, in the transaction. The project, completed in 2008, ... Read More »

Houston Office Vacancy Lowest Since 2008

By Ralph Bivins Vacancy in Houston’s Class A office buildings recently dipped to 8.8 percent, the lowest vacancy rate since 2008, according to the CBRE commercial realty firm. “It’s just good news all over,” says office leasing expert Sanford Criner of CBRE. Sure, there are a number of new office buildings under construction. It’s scary to see so many cranes ... Read More »

Shorenstein Eyes Exxon Mobil Tower in Downtown Houston

By Ralph Bivins HOUSTON – Shorenstein Properties of San Francisco is negotiating to buy the 1.1 million sf Exxon Mobil tower at 800 Bell in downtown Houston. The oil company is selling the 44-story tower in conjuction with its plan to relocate some 11,000 employees to its 385-acre corporate campus in Houston’s northern suburbs. Shorenstein is expected to pay around ... Read More »

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