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Texas Leads the Nation in Warehouse and Retail Construction; No. 2 in Office

HOUSTON – (By Dale King) – Texas leads the nation in commercial development of warehouse, flex and retail real estate space, according to a study by the NAIOP commercial real estate organization. The Lone Star State comes in second for office development behind New York, and finishes Number 2 overall (ranking for all 50 states), slightly outdone again by the ... Read More »

Pair of Bellaire Office Buildings Sold

BELLAIRE, Texas  – CBRE Capital Markets arranged the sale of Bellaire Atrium I and II, a pair of  six-story office buildings on Loop 610 in Bellaire, near Fournace Street. SLS Properties purchased both office buildings, located at 5909 and 5959 West Loop South in Bellaire, Texas, from 5909-5959 Realty, Ltd., an entity affiliated with Braun Enterprises. The buildings contain a total of 152,304 ... Read More »

The ‘Green Shoots’ of Recovery Emerging in Houston Office Market, CBRE Says

HOUSTON – Houston office vacancy rate is high, but office construction is dwindling and the big supply of sublease space is gradually fading, according to CBRE. “The worst is behind us,” said Cody Armbrister, senior managing director of the Houston office of CBRE, at a press briefing Wednesday. The “early green shoots” of recovery are beginning to emerge, he said. ... Read More »

BLVD Place Mixed-Use Development in Uptown Houston Being Sold to Whitestone REIT

HOUSTON – Houston-based Whitestone REIT, a community-centered retail real estate investment trust (REIT) whose properties are primarily in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, is buying BLVD Place in Houston’s Uptown Houston area. Whitestone is purchasing the 216,944 square foot Class-A lifestyle center on Post Oak Boulevard — anchored by a Whole Foods — as well as 1.43 ... Read More »

NAI: Industrial Buildings Sold

HOUSTON – NAI Partners has brokered the sale of two buildings, totaling 54,740 SF, in the Pineway Business Park located at 13230 & 13240 Hempstead Hwy in Houston. The buildings are located in Northwest Houston, near Highway 290, one of Houston’s primary industrial/warehouse corridors. Additionally, NAI represented KP Westway LLC in brokering the sale of 62,210 SF of industrial flex ... Read More »

TriGate Buys Major Retail Center in Fort Bend County

HOUSTON – Holliday Fenoglio Fowler, L.P. has closed the sale of First Colony Commons, a 410,121-SF retail center with multiple big box tenants in the Houston suburb of Sugar Land. HFF represented the seller, Chicago-based Covington Realty Partners. Dallas-based TriGate Capital purchased the property for an undisclosed price.  Additionally, working on behalf of the new owner, HFF placed the five-year, ... Read More »

The “Missing Mile” in the Energy Corridor is Finally Complete

HOUSTON – The “Missing Mile” roadway in the Energy Corridor has been completed. The “Missing Mile” is a recently constructed stretch of Park Row, a street that runs parallel to Interstate 10 in west Houston. “The completion of Park Row not only represents a dramatic improvement in transportation in West Houston, but also Houston’s can-do attitude. This was a very ... Read More »

Expansion Era: Q&A with New Arch-Con President Jason Cooper

Houston’s real estate market has seen better times but Houston-based Arch-Con Construction is not feeling the effects since they have diversified across product types and into other metropolitan areas. Headed by CEO Michael Scheurich, Arch-Con has nearly 4 million-square-feet of commercial projects currently under construction with a projected revenue of $300 million for 2017, a 33 percent increase over last year. In Houston alone, the ... Read More »

Portico and Crossbeam Launch Multifamily Joint Venture

HOUSTON – Portico Property Management, a property management firm headquartered in Houston, and Crossbeam Capital, a multifamily real estate investment firm with offices in Houston, Denver and Dallas, have launched a joint venture that will include more than 6,200 multifamily units across six states. Additionally, the companies will merge back-end operations and support services that will create ease of use ... Read More »

ULI Marketplace: Reknitting the Urban Fabric and Making Houston a 24-Hour City

HOUSTON – (By Cynthia Lescalleet) – A thriving urban core needs development mindful of the traditional, diverse neighborhoods in and near it, said Mark Falcone, founder and CEO of Continuum Partners, based in Denver. As keynote speaker at Urban Land Institute’s Urban Marketplace 2017, held April 13 at the Marriott Marquis Houston, Falcone covered the dynamics and challenges affecting cities as ... Read More »

Record Home Sales: Best March Ever in Houston Real Estate History

HOUSTON – March was the strongest March ever for home sales in Houston’s real estate history, according to the Houston Association of Realtors. The 7,013 single-family home sales recorded in March were up 11.7 percent from the 6,278 homes sold in March 2017, the Realtors Association said. “February and March were two incredibly busy months,” said Houston residential broker Amy ... Read More »

Skanska Announces Construction has Started on Downtown Skyscraper with Bank of America as Anchor

HOUSTON- Skanska announced Wednesday that it has started construction on Capitol Tower, a 35-story office development in downtown Houston, after reaching a lease agreement with Bank of America. Bank of America leased 210,000 SF and it expects to move into the new building in first half of 2019. JLL represented Bank of America. Warren Savery, Kristen Rabel and Roma Soroka ... Read More »

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