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1,568 Acres Purchased by Xu Qing

HOUSTON – (Realty News Report) – A 1,568-acre land tract four miles west of the Grand Parkway has been sold to Xu Qing LLC. The property has potential for development as a master planned community. The site is just west of the Elyson community by Newland Communities and not far from the 11,000-acre Bridgeland by Howard Hughes Corp. The site ... Read More »

SOLD: The Biggest Contiguous Block of Space in Dallas

DALLAS – (Realty News Report) – Taconic Capital Advisors L.P. of New York acquired International Plaza I & II, a 757,000 SF twin-tower campus on the Dallas North Tollway. Designed by HKS Inc., the International Plaza I & II towers were developed in 1999 and 2002. The buildings had been occupied by JPMorgan Chase and Fannie Mae. Both companies recently ... Read More »

Houston Office Vacancy Hits Highest Point Since 1995, CBRE Reports

HOUSTON – (Realty News Report) – Houston’s office vacancy rate has reached 17.8 percent – its highest point since 1995, according to the CBRE real estate firm. A year ago, Houston’s overall vacancy was 16.8 percent, CBRE reported. Energy companies continue to shrink their offices, even though oil is now back above $60 a barrel. Houston’s office market recorded 418,000 ... Read More »

The Structural Integrity of Addicks and Barker Dams is Unknown, New Flood Report Says

HOUSTON – (Realty News Report) – The structural integrity of the aging Addicks and Barker dams, built to protect a large portion of Houston from flooding, is uncertain and should be the subject of a transparent investigation, according to a new research report by Greater Houston Flood Mitigation Consortium. “Data indicate that if either the Addicks dam or the Barker ... Read More »

Fiesta Mart Leases HQ Space; Corporate Merger Nears

HOUSTON – (Realty News Report) – Fiesta Mart LLC, a Houston-based grocery chain that is being acquired by Groupo Comercial Chedraui, has leased about 32,000 SF of headquarters office space near the Galleria. Fiesta Mart, which has 63 stores, has agreed to be sold to Chedraui, a Mexico-based retailer, for $300 million. Fiesta Mart LLC, represented by CBRE’s Rich Pancioli ... Read More »

Chicago Investor Buys 330 Multifamily Units

HOUSTON – (Realty News Report) – Waterton, a Chicago-based real estate investor and operator, has acquired Carrington at Barker Cypress, a 330-unit apartment community at 7202 Barker Cypress Road in Cypress, Texas – 25 miles northwest of downtown Houston. Houston’s apartment occupancy rose sharply last year following Hurricane Harvey flooding, which damaged 204,000 single-family and multifamily homes. “Houston as a ... Read More »

Real Estate Post-Harvey: Bellaire Regains Footing After 1,936 Houses Flooded

BELLAIRE, Texas – (By Michelle Leigh Smith for Realty News Report) – The City of Bellaire reports 1,936 of its 6,688 homes were flooded during Hurricane Harvey. For decades, home values have been strong in Bellaire, an independent well-located municipality that’s surrounded by the City of Houston. Over the years, thousands of Post World War II houses have been torn ... Read More »

Houston’s Oversupply of Sublease Space is Growing Again

HOUSTON – (Realty News Report) – Houston’s supply of sublease office space has been increasing again, wiping out some of the celebrated decreases in the overhang. Houston has 9.4 million SF of sublease space available, according to a recently released March report by NAI Partners. The sublease supply was less than 9 million SF at year-end – a short-lived positive ... Read More »

Griffin Partners Buys Loop Central Office Complex

HOUSTON – (Realty News Report) – The Loop Central office complex has been acquired by Griffin Partners. The seller was TIER REIT Inc., a Dallas-based real estate firm. The three-building office complex is located on the east side of Loop 610, just south of Westpark, near the city of Bellaire. The 575,000-SF project is about 84 percent leased. The REIT ... Read More »

Office-Warehouse Under Construction in Tomball

HOUSTON – (Realty News Report) – Dancing Falls Development LLC is developing a 42,000-SF office-warehouse project in Tomball on the northwest side of Houston. Proximity Commercial Advisors is leasing the development, 27905 Commercial Park Road in Tomball. Boatman Construction is building the project, which will consist of four 10,500-SF office-warehouse buildings. The project is expected to be delivered and fully ... Read More »

Transwestern’s Ridge Co. Buys 29 Acres for Spec Industrial Project

HOUSTON – (Realty News Report) – Ridge, the industrial development arm of Transwestern Development Co., has acquired 29 acres at the corner of Beltway 8 and Highway 90 in southwest Houston for a major industrial development. Ridge plans to break ground in May on a 477,355-SF speculative industrial project, with expected delivery in early 2019. Transwestern is leasing the project. ... Read More »

East Galveston Beach Property Set For Hotel, Condo Projects

GALVESTON – (Realty News Report) – An 11.6-acre tract on East Beach in Galveston is in-play as a possible mixed-use development with a hotel, condominiums and recreational uses. Some 2.4-acres of the property is teed-up with approvals in place to build a 160-room Residence Inn by Marriott, says Lisa Hankamer of Marcus & Millichap, which is marketing the site. The ... Read More »

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