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Great Southwest Building to Be Transformed into Hotel

HOUSTON – The Great Southwest building, built in 1927 in downtown Houston, is being redeveloped to a Cambria-branded hotel by Choice Hotels International, according to Candace Carlisle of the Dallas Business Journal. The 21-story building, located at 1314 Texas Ave., is two blocks east of Hines’ new 609 Main building and two blocks west of Minute Maid Park. Choice bought ... Read More »

Office Vacancy Doubles in Downtown Houston

HOUSTON – In the prime towers of downtown Houston – the Class A office buildings – vacancy has doubled in the last three years – rising to 13.4 percent, up from 6.4 percent in 2014, according to the CBRE real estate firm. In many ways, the Central Business District shows strength. Downtown Houston is a more vibrant place these days ... Read More »

Celebrating Hines’ Main Street Tower – His 21st Addition to Houston Skyline

  HOUSTON – (By Michelle Leigh Smith) – At 91, Gerald D. Hines opened his sexy new skyscraper this week. Towering 48-stories above Main Street and topped with a sloped crown, 609 Main at Texas has become a must-see destination – as hundreds of onlookers came to the grand opening celebration Wednesday night to view Hines’ latest urban handiwork. This ... Read More »

New Panama Canal Finally Delivers for Houston: New 500,000-SF Development Coming

HOUSTON – The expanded Panama Canal, which allows exceptionally large ships from Asia to reach Houston, has contributed a benefit to the Houston economy – a new 500,000-SF industrial development, partly prompted by the canal expansion. The deal: Houston-based development firm, Avera Cos. just acquired 40 acres in the TGS Cedar Port Industrial Park in Chambers County near Baytown, Texas. ... Read More »

Wildwood Corporate Centre Gains Two Tenants

HOUSTON – The Wildwood Corporate Centre I office building north of Houston has gained two tenants: U.S. Steel Tubular Products has leased 21,599 SF and The Studemont Group has leased 4,138 SF. Devon Energy is moving out of the two-building 327,000-SF Class A office complex, which was developed by Archway Properties and delivered in 2014. Steve Rocher, Debbie Wilson and ... Read More »

DesignHive: Office Spaces of the Future Unveiled in Downtown Houston

HOUSTON – (By Michelle Leigh Smith) – Fresh ideas about workplaces buzz around the 37tth floor of one of Houston’s tallest skyscrapers. The floor has been transformed into the DesignHive Houston – a laboratory, of sorts, where the workplaces of the future have been unveiled. In the DesignHive, you won’t find the isolated corner office with the heavy mahogany desk. ... Read More »

Avera Developing 143-Acre Bayport Logistics Park

HOUSTON – AVERA Companies, is developing Bayport Logistics Park, a 143-acre rail-served industrialcomplex in Pasadena, on the east side of Houston. The site is located on the east side of Underwood Road, just south of Fairmont Parkway, within the Bayport Industrial District. The site is also within close proximity to both Barbour’s Cut and Bayport container terminals, facilitating convenient, economical drayage ... Read More »

Avera Developing 500,000-SF Industrial Project for Vinmar

BAYTOWN, Texas – Avera is developing a 500,000-SF industrial building in Baytown for Vinmar International, a global petrochemical marketer and distributor. The project will be located on a 40-acre site on Sutton Road near FM 1405 in the Cedar Port Industrial Park. The facility will include 10,000 linear feet of rail with four separate rail lines. Kelley Parker and Kevin ... Read More »

Griffin Partners Fund Buys Post Oak Building

HOUSTON – Griffin Partners Office Fund III has acquired 520 Post Oak Boulevard, a 155,147-SF office building, east of Loop 610 near Houston’s Memorial Park. The sellers, balandis real estate AG and Griffin Partners, were represented by HFF senior managing director Danny Miller and associate John Indelli. 520 Post Oak Boulevard building is situated in the heart of Post Oak ... Read More »

Crow Starting 1.2 million SF Spec Project in South Dallas County

DALLAS – Crow Holdings Capital-Real Estate is starting a 1.2 million spec industrial project in southern Dallas County. The project, I-35 Logistics Crossing, will feature two 611,000-SF buildings. Crow will construct both building at once. The project is located in the Lancaster community at the intersection of Interstate 35 and Interstate 20. Kurt Griffin and Nathan Orbin of Cushman & ... Read More »

Houston No. 2 in Nation in Housing Starts, Dallas No. 1, Reports Metrostudy

HOUSTON – Houston ranks No. 2 in housing starts, slightly behind Dallas, which leads the nation. In other words, the Lone Star State is the shining star in homebuilding so far in 2017. Houston recorded 25,789 housing starts for the 12-month period ending in March 31, 2017, according to Metrostudy. In the same 12-month period Dallas had 30,017 starts. Showing ... Read More »

Economic Outlook: Houston Mediocre-to-Partly Gloomy in 2017

HOUSTON – (By Michelle Leigh Smith) – The Houston economy, under an oppressive lid of $50 a barrel oil, is headed for a lackluster 2017 featuring overbuilt office and multifamily markets and tepid job growth, according to University of Houston economist Dr. Bill Gilmer. Gilmer delivered the mediocre-to-partly gloomy forecast to more than 800 Houston business leaders and UH supporters ... Read More »

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