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Houston Firm Acquires Dallas Office Building

DALLAS – An affiliate of Tanglewood Property Group of Houston has acquired Preston Plaza, a Class A office building in Far North Dallas. CBRE’s Eric Mackey, Gary Carr, John Alvarado, Jared Chua and Robert Hill represented the seller, Caddo Holdings of Dallas. Built in 1986 and renovated in 2015, the building has 259,009 SF of office space, which is 91 ... Read More »

Avison Young: Houston Office Market One of the Most Tarnished in International Study

HOUSTON – Houston’s supply of empty office space, expressed as vacancy rate, is one of the largest in the nation, according to a new report by Avison Young. Houston, with a 16.8 percent office vacancy rate, the second highest in the U.S., behind Fairfield County, Conn. with 17.8 percent vacancy. Atlanta, with a 16 percent vacancy rate, ranked third. According ... Read More »

New Tenant Amenities Added at 64-Story Williams Tower

HOUSTON – Hines, the international real estate firm, and Invesco Real Estate, a global real estate investment manager, have announced the completion of a new fitness center at Williams Tower, the 64-story office building owned by Invesco Real Estate in Uptown Houston. The Fitness Center at Williams Tower, a members-only fitness facility serving the tenants of Williams Tower offers private ... Read More »

Bauer-Pileco Building New HQ in Conroe, Texas

CONROE, Texas – Bauer-Pileco, a global provider of foundation equipment and support to the foundation construction industry,  will build a 78,774 SF facility in Conroe Park North for the company’s new North American headquarters. The new location, with three stories of office space, warehouse and service building space, will be built by KDW, the Houston-based design/build general contractor. Construction at ... Read More »

Stabilization in Sight: Houston Multifamily Market Heading Toward Recovery

HOUSTON – (By Dale King) – A combination of increasing demand and less new inventory in a particular housing market may not always be a healthy amalgamation. But in Houston right now, the combo seems to be working well, at least in the multifamily housing sector, says Berkadia’s second quarter 2017 report. “Continued apartment demand, coupled with less new inventory, ... Read More »

Vigavi Realty Finds Niche for Free-Standing Industrial Buildings Near Port of Houston

HOUSTON – Vigavi Realty will break ground on two speculative industrial buildings in Pasadena, meeting a demand for freestanding industrial properties in southeast Houston, JLL reports. The Vigavi firm just completed a 36,000-SF design build project at Fairmont Industrial Center, 11802 Fairmont Parkway in La Porte. HydroTex, a Chicago-based pump systems and engineering services firm, owns and occupies the freestanding ... Read More »

Texas Construction Powerhouse: Dallas No. 1; Houston is No. 2 in Single-Family Starts

HOUSTON – Building is bigger in Texas. Dallas is No. 1 in the national rankings of housing starts and Houston is No. 2, according to Metrostudy Inc. The Dallas-Fort Worth area had 31,049 single-family home starts for the 12-month period ending June 30. Houston was second with 27,114 starts. The two Texas cities had ranked at the top of the ... Read More »

Cypressbrook Development Breaks Ground on Apartments in College Station

HOUSTON – Cypressbrook Development Co. of Houston has broken ground on Ariza College Station, a 266-unit apartment community in College Station, northwest of Houston. The project will be located just east of the Highway 6 bypass off of Harvey Road or State Highway 30 about 2.5 miles west of the Texas A&M University campus. Led by Michael Novelli, Cypressbrook Development, ... Read More »

Apartment Developers Kicking Off Another Round of Construction Starts in Downtown Houston

HOUSTON – Developers are preparing to start building another round of high-rise residential towers in downtown Houston, where apartment vacancy has been rising as hundreds of new units are being completed and put on the rental market. The next two projects to be started are expected to be a 21-story, 271-unit apartment tower by Camden Property Trust and a 40-story ... Read More »

Australian Group Buys Midtown Parcel

HOUSTON – Caydon Property Group of Australia has acquired a 41,000-SF parking lot at Main and McGowen, extending its holdings in Houston’s Midtown area. Caydon is planning to build a 26-story, 357-unit residential tower a block away. Caydon acquired the land from Current Standing Developments, a Houston firm led by Brent Friedman. Friedman’s firm is redeveloping the Mid-Century Modern building ... Read More »

Transwestern’s Kevin Roberts: Entering the New Era of Houston’s Office Market

Mention Houston real estate to an out-of-towner and chances are they’ll ask about empty office buildings in the world’s energy capital. But while the Space City’s office market continues to struggle and there is significant sublease space available, things are not as dire as others would have you believe. To find out some of the bright spots in Houston’s office market, Realty News Report talked with Kevin Roberts, President, Southwest ... Read More »

Full Floor Leased in Greenway Plaza Tower

HOUSTON – FlightAware, an aircraft flight tracking company, has leased 24,500 SF in the Eleven Greenway Plaza office building in the Inner Loop of Houston for its global headquarters. Neil Tofsky, chief executive of Senterra Real Estate Group and Kevin Tofsky, vice president represented FlightAware in the lease. J.P. Hutcheson of Parkway Inc. represented Parkway, which owns Greenway Plaza. FlightAware, ... Read More »

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