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Monthly Archives: December 2012

Houston REIT Buys Ariz. Project for $19 Million

HOUSTON – Whitestone REIT, a Houston based REIT has closed on the off-market purchase of The Shops at Pecos Ranch, a 78,767 square foot 100% leased Community Center in Chandler, Arizona, for $18.95 million in an all-cash transaction. The Center has in-place cash flow of approximately $1.6 million, or 8.4% of the purchase price. “The Shops at Pecos Ranch, a ... Read More »

Zip Launches Zap

EMERYVILLE, Calif. – ZipRealty, an online technology-enabled residential real estate brokerage company, has launched the second generation of Zap, a real estate technology solution for agents, brokers and home buyers. Zap combines ZipRealty’s industry-leading CRM with its website and mobile application, the most powerful suite of real estate marketing tools in the United States. Zap fully integrates these dynamic platforms to give ... Read More »

MD Anderson Cancer Hospital Buys Major Tract in West Houston

HOUSTON – The University of Texas’ MD Anderson Cancer Center purchased 34.5 acres in the Energy Corridor of west Houston for a major medical facility. The site is in Wolff Cos.’ 78-acre Central Park development,located on the north side of I-10 between North Eldridge Parkway and SH 6, was assembled by Wolff in late 2011 and early 2012. “Central Park ... Read More »

Office Sells for $35 Million in Houston’s Energy Corridor

HOUSTON – The Reserve at Park Ten, a 145,114-sf, Class A office building located in Houston’s Energy Corridor was purchased by a subsidiary of CapLease for $35.5 million. The building, constructed in 2009, is 100 percent leased. The Energy Corridor, located in west Houston along Interstate 10, is one of the strongest submarkets in Houston with occupancy ovr 90 percent. ... Read More »

REIT Buys Industrial Buildings in Houston

HOUSTON – Industrial Income Trust, a REIT, has closed the sale of a five-property, 709,114-sf industrial portfolio in Houston.  HFF marketed the portfolio on behalf of the seller. The portfolio is 98.5 percent leased overall.  The properties included in the portfolio are: 9830-9856 East Freeway (Eastport 8); 6323 Brookhill Drive (Lone Star 3); 552-598 Garden Oaks Boulevard (Pine Forest 18); 4601 South ... Read More »

Boxer Entering Hotel Sector

PHOENIX – Boxer Property, a Houston-based firm which has invested in office properties since 1992, is adding hotel investments into its portfolio. Boxer announced it has acquired its first resort hotel  — the AAA Four-Diamond rated Pointe Hilton Tapatio Cliffs Resort in Phoenix. “With the purchase of Tapatio Cliffs, Hotel & Resort, our first hotel, we are excited to launch ... Read More »

CBRE Leases Downtown Houston Office Space

HOUSTON – Houston Center has closed on two office lease renewals at LyondellBasell Tower in Houston’s Central Business District (CBD). Debbie Wilson and Cody Armbrister of CBRE represented the building’s ownership in both transactions totaling 86,187 sq. ft. at the 46-story skyscraper. The 1,061,351-sq.ft. Class A office building is part of the Houston Center complex and is located at 1221 ... Read More »

New Office Buildings Under Development in Midland, Texas as Permian Basin Drilling Boosts Economy

MIDLAND, Texas — Houston-based Satterfield & Pontikes Construction, is planning construction of multiple, new 100,000-square-foot office buildings in Midland, Texas. The site for the project is located in Westridge Park, a 100+-acre master-planned development situated in Midland’s premier high-growth Western Corridor. Midland’s soaring economy has benefited from increased energy production as a result of new drilling technologies in the liquids-rich ... Read More »

West Loop Office Building Sold in Houston

Houston – CBRE announced the sale of 1800 West Loop South, a 400,101-square-foot, Class A office building located in Houston’s Galleria/Uptown office submarket. Strategically located along Houston’s 610 West Loop, 1800 West Loop South was 81.5% occupied at the time of sale. In recent years, approximately $3.7 million was invested in capital improvements at the property.The building was purchased by ... Read More »

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