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Monthly Archives: January 2013

Houston Leads Nation in Housing Starts

Houston —  Houston is leading the nation in housing starts, as builders started 23,480 homes in 2012, according Metrostudy, a national housing data firm. For Houston, the recovery is surging roughly nine months ahead of the national average. Job growth remains strong, creating a robust housing demand over the last twelve months. In November, the Greater Houston job market regained ... Read More »

21 Office Buildings Under Construction in Houston

By Patsy Fretwell Twenty one office projects, totaling 4.5 million sf, are under construction in Houston as the city’s soaring economy continues to boost the commercial real estate market, according to Commercial Gateway, the commercial division of the Houston Association of Realtors. The city’s office market finished the fourth quarter with a total of 1.1 million sf of positive net ... Read More »

Hotel Planned for Westchase Area of Houston

HOUSTON –  A prominent site in the Westchase District of west Houston, where a number of energy firms have been expanding, has been purchased for hotel construction. Hans Lindberg has purchased 2.3 acres of land located at the northwest corner of Westpark and Beltway 8 from Serena Holdings LLC  for the construction of  four-story, 121-room TownePlace Suites by Marriott.  Mark Davis of Davis ... Read More »

Law Firm Signs Big Lease in Hines’ Downtown Tower

HOUSTON – The BakerHostetler law firm signed a 75,737-square-foot lease at BG Group Place, a 46-story downtown office tower developed, managed and leased by Hines.  With the signing of this lease, BG Group Place is 92 percent committed.  BakerHostetler was represented in lease negotiations by Mark O’Donnell, Derrell Curry and David Endelman of Studley.  Chrissy Wilson, Allison Knight and Tyler ... Read More »

Houston CRE Briefs

 Principal Real Estate Investors bought 2000 St. James Place, a 335,000-square-foot office building that is 100 percent occupied under a long-term lease to Weatherford International. The seller was led by CORE Real Estate. Principal’s purchasing consortium included: South Korean investors: Korean Federation of Community Credit Cooperatives, Korea Scientists and Engineers Mutual-Aid Association and Simone Investment. The managing member of the ... Read More »

Susie Hale’s FrogPond Newsletter Group Sold to Move Inc.

HOUSTON — Move, Inc. announced  the expansion of its suite of free marketing tools with the acquisition of certain assets of eFrogPond, Inc. an integrated communications and marketing solutions provider best known for its Housing Trends eNewsletter.  Move, Inc. is the operator of TOP PRODUCER Systems and The FrogPond organization was created by Houston entrepreneur Susie Hale. The Housing Trends ... Read More »

Hines Buys Land for Los Angeles Multifamily Construction

PASADENA, Calif. – Hines, the international real estate firm,  announced that it has closed on a 3.5-acre land parcel in Pasadena, for the development of a new Class A for-rent residential complex.  Designed by Newman Garrison + Partners of Newport Beach, the development will include 212 residences in a four-story building above two parking levels.  Located on the corner of ... Read More »

Ralph Bivins’ Top Six Predictions for Houston Realty in 2013

Houston real estate had an excellent 2012 and outlook for 2013 looks very solid, as well. The job growth may be down slightly. Houston led the nation in apartment rent growth last year and won’t continue forever. The city’s real estate markets are hitting on all cylinders – office, apartments, industrial, single-family. It’s doubtful that 2013 could surpass 2012. The ... Read More »

Rents Up 16 % in Houston, But More Hikes to Come – Everywhere

The Trulia organization reported that Houston led the nation last year with a 16.2 average gain in apartment rents. But Houston’s not alone. There are rent hikes more to come in 2013, for most markets in the nation, according to new projection released by The MORE Group. The MORE Group is projecting overall nationwide apartment rental rate increases of 3 to ... Read More »

Shorenstein Buys Exxon Mobil Tower for $50 Million

By Ralph Bivins HOUSTON – Shorenstein Properties has acquired the 45-story Exxon Mobil building in downtown Houston for a redevelopment that will restore the property to Class A status. The Exxon Mobil building, located at 800 Bell at Travis, was built in 1962 as the headquarters of Humble Oil & Refining, a predecessor to Exxon Mobil. The sales price was ... Read More »

Wells REIT Buys San Fran Tower

SAN FRANCISCO – Wells Real Estate Investment Trust II has acquired 333 Market Street, a 33-story office tower in the heart of San Francisco’s Financial District. The Class A asset was purchased from the Korean Federation of Community Credit Cooperatives.  The 657,000-sf building, constructed in 1979, has undergone over $80 million in capital investments and tenant improvements over the past ... Read More »

Metrostudy Purchased by Hanley Wood

HOUSTON – Hanley Wood LLC, publisher of Builder magazine with media, information and marketing services company serving the residential, commercial design and construction industries, has acquired Metrostudy. Based in Houston, Metrostudy, founded in 1975, is a provider of primary and secondary market information to the housing and related industries nationwide. Metrostudy will be combined with Hanley Wood Market Intelligence, and ... Read More »

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