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Pelican Builders Planning Condo Tower Near River Oaks

HOUSTON – Pelican Builders, a Houston firm led by Robert Bland, plans to build a nine-story condominium project near River Oaks in Houston. Named The Revere, the boutique condominium will have 33 residences ranging in size from 2,677 to 3,867 SF – and priced between $1.6 and $2.9 million. The building — “designed with River Oaks empty nesters in mind” ... Read More »

Unwanted Top Ranking: Houston has Largest Sublease Supply in Nation, Reports CBRE Research

HOUSTON – Houston has the largest supply of sublease office space in the nation, according to a new report by CBRE Research. Houston had an 11.1 million SF of sublease space on the market at year-end. Boston ranked second with 4.8 million SF of sublease supply, followed by Manhattan at 3.8 million SF. The oversupply of sublease space, which is ... Read More »

MetroNational Developing Midrise Residential Tower at Memorial City

HOUSTON – MetroNational, a Houston-based real estate firm with extensive holdings in west Houston, will break ground later this month on an 8-floor, 327-unit midrise rental apartment tower adjacent to Memorial City Mall. Designed by Ziegler Cooper Architects Residential, a Houston firm that has designed many residential towers, the plan the project will feature upscale amenities including a rooftop, resort ... Read More »

Can Goldman Sachs Set a New Record-High Sales Price in Downtown Austin?

AUSTIN – A Goldman Sachs partnership is seeking to sell a downtown Austin building for $670 per SF, which would be a record-setting price for office deals in the capital city, reports Real Estate Alert. The new 18-story building, called 5th + Colorado, was completed last year by Goldman Sachs and Lincoln Property Co. The 179,000-SF tower is 95 percent ... Read More »

Fore! – Golf Still Drives Value for Housing; But How Much?

HOUSTON – (By Dale King) -A golf course view is a lovely amenity for your home. But a golf course in the neighborhood can actually put more money in your pocket if you’re planning to sell, says a new university study. Most of the real estate folks around Houston interviewed by agree with the faculty-conducted study out of Florida ... Read More »

Proposed San Antonio Tower Will Have No Parking

SAN ANTONIO – REM Hospitality is planning an 18-story hotel and office tower – without parking spaces – in downtown San Antonio. The tower will have 50,000 SF of office space and a 185-room Cambria-branded hotel, the San Antonio Business Journal reports. Anand Bhakta, principal with San Antonio-based REM Hospitality, said the site, which is less than a half-acre, is ... Read More »

Border Wall Will Require a Huge Eminent Domain Effort

HOUSTON –The proposed wall along the U.S.-Mexico border represents one of the largest eminent domain undertakings in the nation’s recent history, according to Deal Sikes & Associates, a Houston-based firm active in eminent domain counseling and representation. The border from San Diego to Brownsville, Texas spans almost 2,000 miles. Some 650 miles of the border has already been fortified with ... Read More »

14-Story Greenspoint Area Tower Acquired by Steve Moore Firm

HOUSTON – Austin Management Group, a Houston firm led by Steve Moore, has acquired the Northborough Tower, a 14-story office building at 100 Glenborough Drive in the Greenspoint area. The 206,533-SF building is currently vacant, although it is 99 percent leased until 2018 by Noble Energy. Transwestern’s Leah Gallagher, Michelle Wogan and Hale Umstattd represented seller. The building was formerly ... Read More »

WeWork Selects The Jones on Main for First Houston Location

HOUSTON – WeWork, a co-working office space company, will open its first Houston location in The Jones on Main, a historic redevelopment in downtown Houston. The office sharing WeWork concept is appealing to start-up firms, entrepreneurs and even Fortune 500 companies that need to have a regular presence in major cities. The Jones on Main is a redevelopment of the ... Read More »

Downtown Houston’s 600 Jefferson Building Renamed and Remodeled

HOUSTON – The 20-story building formerly known as 600 Jefferson has been renamed 1801 Smith, according to Stream Realty and DRA Advisors. The companies are redeveloping the 450,000-SF building, which was completed in 1972 and acquired from Brookfield in 2014. “The address change to Smith Street provides the building with the prominent address it deserves, as its one of the ... Read More »

Sugar Land Industrial Property Sold

SUGAR LAND, Texas – Dalfen America Corp., part of a Canadian industrial real estate investment company, has sold the 330,674-SF Gillingham Distribution Center in to Gillingham DC, LLC. The property is located in the Sugar Land Business Park, near Beltway 8 and Highway 90A. The sale includes five acres of developable land that could handle as much as 80,000 SF ... Read More »

The Boulevard Project: A Conversation with John Breeding of Uptown Houston District

HOUSTON – If you’ve ventured to Uptown Houston lately, a lot is going on in those 500 acres in the heart of Houston. A redevelopment plan, The Boulevard Project, is being put into effect in the area – one of the most vibrant in the country. The vision for the project is to rebuild Post Oak Boulevard into an exquisitely ... Read More »

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