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Author Archives: rnrbivins

The Softer Side of Online Home Buying: Houston is Tops with New HomLuv Website

HOUSTON – (By Dale King, Realty News Report) – Online house hunters normally go to a home-search website and type in a bunch of numbers – the ZIP code, the desired square footage and, of course, the price. With HomLuv.com, it’s a bit more touchy-feely. Pictures are more important than numbers. A HomLuv search is more about design, about color ... Read More »

Houston Restaurant Group Leases Spot in Downtown Tower

HOUSTON – (Realty News Report) – Adair Concepts, a Houston restaurant group, will open a new restaurant in 71-story Wells Fargo Plaza at 1000 Louisiana Street in downtown Houston. The eatery will serve breakfast, lunch, and small bites along with premier wines, spirits and signature craft cocktails in the afternoon. The 4,628-SF restaurant, designed in collaboration with Gensler and McGarr ... Read More »

Multifamily Occupancy Up Sharply in Downtown Houston

HOUSTON – (Realty News Report) – Downtown Houston has more than 8,000 residents, up from 3,800 in 2012 when the city began its Downtown Living Initiative, according to a new report by the Central Houston organization. The multifamily market in Downtown Houston registered an 11 percent gain in occupancy over the last year, hitting 70 percent occupancy, said Central Houston. ... Read More »

Texas Children’s Hospital Renews Sugar Land Lease

SUGAR LAND – (Realty News Report) – Texas Children’s Hospital has renewed a 42,198-SF medical office lease for its Sugar Land Health Center at Sugar Land Medical Building II, 15400 Southwest Freeway in Sugar Land, southwest of Houston. Sugar Land Medical Building II is a three-story, 60,334-square-foot medical office building. Texas Children’s has been lead tenant of the fully leased ... Read More »

Houston Landlords, Brace Yourself: 43 Full Floors of Sublease Office Space Coming Back in the Next 12 Months, Colliers Says

HOUSTON – (Realty News Report) – Forty-three full floors of sublease office space will be returned to Houston building owners within the next 12 months as the term of the leases expire, according to a new report by Colliers International. Overall, Houston has 288 full floors of sublease space, with over half of that with five years or more of ... Read More »

How to Lease Downtown Towers in Today’s Market: Q&A with Michael Anderson of Colvill Office Properties

HOUSTON – (Realty News Report) – Too much office space is chasing too few tenants in downtown Houston, where the vacancy rate hovers around 20 percent. So, what is on the agenda for Houston developers such as Hines? A new 1 million SF building on the former site of the Houston Chronicle. To sort out the seemingly disconnect – a ... Read More »

Return to Normalcy of Houston Sublease Space Expected to Arrive in 2021

HOUSTON – (Realty News Report) – Houston’s supply of sublease office space will fall below its 13-year average of 5 million SF by 2021, according to a forecast by PMRG, as more leases expire and return to regular landlord inventory. After a steep pull-back by energy firms, the sublease supply peaked at 12.1 million SF in the third quarter of ... Read More »

Hurricane Harvey Pushes Up Rents for Single-Family Properties in Houston, CoreLogic Reports

HOUSTON – (By Dale King, Realty News Report) – The cost of renting a single-family home in Houston has spiked significantly in the aftermath of Hurricane Harvey, which made landfall in Texas about a year ago. Houston’s rental rates of single-famlly homes are up over 4 percent, compared to the pre-Harvey market, according to CoreLogic, a global property information, analytics ... Read More »

Redeveloped Levy Park Finalist for National ULI Award

HOUSTON – (Realty News Report) – The Urban Land Institute (ULI) has announced that Levy Park, a major park revitalization project designed by OJB Landscape Architecture (OJB), is one of five finalists for the prestigious 2018 ULI Urban Open Space Award, a worldwide competition. Levy Park is just west of Kirby Drive, south of Richmond Avenue. The annual award recognizes ... Read More »

Austin Group Buys Multifamily in Alief

HOUSTON – (Realty News Report) – GVA Real Estate Group of Austin has acquired the 364-unit Huntington Glen apartment complex in the Alief area. HFF marketed the property on behalf of the seller, BH Equities/L5 Investments. Huntington Glen is located at 12023 Bissonnet near the intersection of S. Kirkwood Drive in the Alief submarket of southwest Houston.  Completed in 1983, ... Read More »

50 Million Square Feet Vacant in Houston: Worst Vacancy Rate in 30 Years, NAI Reports

HOUSTON – (By Ralph Bivins, Realty News Report) – The office vacancy rate in Houston hasn’t been this ugly in 30 years. And there is no miracle cure, no magic bullet that can bring a timely healing. Energy companies – the backbone of Houston office tenancy for almost a century – are not expanding. Many are shrinking. There will be ... Read More »

Megacenter: Chile, Peru and Now … FM 1960

HOUSTON – (Realty News Report) – A former Walmart is being redeveloped into a 236,000-SF Megacenter Willowbrook on FM 1960 near Willowbrook Mall. Megacenter is a subsidiary of Red Megacentro, which has over 40 locations in Chile, Peru, South Florida and Texas. The facility in northwest Houston will have a gym, flex space, office space, self storage and an auto ... Read More »

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