February 26, 2013
By Ralph Bivins
HOUSTON – Transwestern is developing a 30-story, 560,000-sf global headquarters for BHP Billiton Petroleum at 1500 Post Oak Boulevard in Houston’s Galleria area. The company is a significant player in the shale drilling business.
“We have experienced tremendous growth over the past seven years, and we expect vigorous growth to continue for the foreseeable future,” said BHP Billiton Petroleum CEO J. Michael Yeager. “We have designed our new facilities to attract the talent we need to expand our business into one of the world’s largest oil and gas independents.”
The company will be hiring personnel, as well as relocating employees from other locations to the new building.
Designed by the Pickard Chilton architecture firm for building owner TIAA-CREF, the new office tower will connect to BHP Billiton Petroleum’s current headquarters building at 1360 Post Oak Boulevard, giving the firm a two-tower campus. Pickard Chilton also designed the new 3.25 million-sf Exxon Mobil campus, near The Woodlands north of Houston.
February 22, 2013
The National Association of Real Estate Editors’ 63rd Annual NAREE Journalism Competition has a number of categories for journalists who cover commercial real estate, in addition to residential real estate and mortgage finance, home building and urban planning topics.
“NAREE membership has grown significantly in commercial real estate in recent years. A large number of journalists who cover office markets, hotels, shopping centers and industrial property have entered our journalism contest and joined NAREE,” said Mary Doyle-Kimball, NAREE Executive Director.
Categories in this year’s journalism competition include “Best Commercial Real Estate Report in a Daily Newspaper,” “Best Report in a Weekly Business Newspaper” and “Best Commercial Real Estate Trade Magazine.”
NAREE’s Entry deadline is March 1, 2013, for work published or aired in 2012.
NAREE has a separate Bruss authors competition recognizing the best real estate books of the year. Authors should consult NAREE.org immediately to begin preparations to enter NAREE’s Bruss Book Competition.
Founded in 1929, NAREE is a nonprofit professional association of writers, columnists, editors and authors covering residential, commercial and financial real estate and urban and home design. www.NAREE.org
February 19, 2013
Houston – The Woodlands-based D’Agostino Cos. will start construction of Vision Park Plaza, a speculative 75,000-sf office development, located at 128 Vision Park Boulevard in The Woodlands. The three-story Class A, tilt wall and glass office building is a development of D’Agostino Companies and is designed by Browne McGregor Architects. Metzger Construction will build it. While originally planned as a pre-leased development, Vision Park Plaza will break ground in the second quarter 2013 as a fully spec office building. The building will be ready for Tenant occupancy early first quarter 2014. According to CBRE,at the end of the fourth quarter, the total vacancy rate for The Woodlands office market was 4 percent; with the Class A market becoming 99% leased.
February 14, 2013
ATLANTA – Hines has begun construction is on @1377, a 215-unit luxury multifamily complex in Atlanta. The development represents Hines’ first for-rent residential project in the city and one of several under development in the Southeast region. @1377 is located in the Brookhaven neighborhood on Dresden Drive. The four-story building will have an attached multi-level parking garage.
Designed by The Preston Partnership of Atlanta, @1377’s architecture evokes a transitional style with buildings clad in brick, with stucco accents, large windows, wrap-around corner balconies and ground-level unit entry stoops at the sidewalk. The project will offer studios, and one- and two-bedroom units ranging in size from 468 to 1,537 square feet. General Contractor Urban Oaks Builders expects occupancy of the first units in October 2013, with final completion in December 2013.
Alan Patton, senior managing director in charge of the firm’s Multifamily Division, said, “Hines’ multifamily platform is focused on delivering high-quality for-rent residential projects in all of our domestic markets. We are committed to delivering a superior product with our @1377 project and are excited about its one-of-a-kind location within Atlanta’s well-known Brookhaven submarket.”
In January 2011, Hines formed its Multifamily Division, with a focus to expand the firm’s multifamily development activity throughout the U.S. by working with Hines’ domestic regions on for-rent residential programs. Currently, the Multifamily Division has more than 5,000 units in projects in various stages of development. In addition to Atlanta, the company has other multifamily projects that are located in several U.S. cities including: Cambridge, MA; Chicago; Denver; Houston; Miami; Minneapolis; Pasadena, CA; Phoenix; Rockville, MD; and St. Petersburg, FL.