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Author Archives: rnrbivins

Chicago Investor Buys NW Houston Business Park

HOUSTON – (Realty News Report) – Brennan Investment Group of Chicago has acquired  Fairway Park, a five-building, 135,571-SF light industrial park in Houston. The business park, which is 84 percent occupied, has a mix of office and warehouse space. The buildings are located on Hempstead Highway and Fairway Park Drive. Since 2010, Brennan has acquired $3 billion in industrial real ... Read More »

Houston Retailer to Close Stores, Cut Employees at HQ

HOUSTON – Charming Charlie, a Houston-based retail chain, plans to close a number of underperforming stores and reduce employee headcount at its Houston Corporate Support Center and Distribution Center. “By reducing the size and scale of our operations, we have the opportunity to stabilize the business,” Interim CEO Lana Krauter said in a press release. “We are working closely with ... Read More »

Brookfield Acquires Houston Center for $875 Million; Major Redevelopment Planned

HOUSTON – (By Ralph Bivins, Realty News Report) – Brookfield Property Partners has finalized its acquisition Houston Center, a collection of four downtown skyscrapers and a 200,000-SF retail center. The $875 million sale of the 4.2 million SF Houston Center is one of the biggest real estate transactions ever completed in Houston. Brookfield is expected to spend heavily – well ... Read More »

PGIM/Hanover Buy 29-Story Apartment Tower

HOUSTON – A partnership of PGIM Real Estate and Hanover Co., a Houston-based multifamily firm acquired the 396-unit Mosaic at Hermann Park tower near the Texas Medical Center and Highway 288. The 29-story building has been rebranded as Hanover Hermann Park. The apartment building, is located near the Hermann Park Golf Course clubhouse and driving range at the corner of ... Read More »

Sales Up 127 Percent in Evolving Houston Sector

HOUSTON – (Realty News Report) – Warehouses are a hot item in Houston. Warehouse sales are up 127 percent year-to-date over the sales volume of 2016, according to a November report by NAI Partners. Houston is poised to break the $1 billion barrier soon. So far this year $984 million in industrial sales have been recorded. Institutional investors have accounted ... Read More »

Nature Preserves Should Be Created to Prevent Future Houston Flooding, Judge Emmett Says

HOUSTON – (By Michelle Leigh Smith, Realty News Report) – Harris County Judge Ed Emmett believes state and local officials need to accelerate flood control measures, by building a third reservoir and transforming some of the Katy Prairie west of town into a nature preserve. In his tenth annual State of the County Address sponsored by the Greater Houston Partnership, ... Read More »

Steel Manufacturing Plant Sold and Will Re-Open

CONROE, Texas – Falcon Steel America, a manufacturer of high-voltage transmission tower and other steel structures, acquired a 226,000-SF manufacturing facility in Conroe, north of Houston. The addition of the new plant, located on 25 acres at 3575 Pollok Drive, will more than double the Fort Worth-based company’s manufacturing capacity. Falcon Steel America, which is remodeling the plant, expects to ... Read More »

Quantum Energy Partners Leases Space in New Downtown Tower

HOUSTON – (Realty News Report) – Quantum Energy Partners leased 32,000-SF at the top of the 35-story downtown office tower under construction by Skanska USA Commercial Development. The new building, slated for completion in 2019, is now 33 percent leased. Bank of America, with more than 210,000-SF, is the anchor tenant and the namesake of the new tower. The 754,000-SF ... Read More »

Micro Apartments Introduced in Macro Tower – Under Construction at Texas Medical Center

HOUSTON – (By Ralph Bivins, Realty News Report) – The micro apartment trend is coming to Houston in a big way. With apartments as small as 339 SF, the Latitude Med Center residential tower will begin receiving its first tenants next spring, the developers say. The 35-story high-rise building, located on Main Street between Rice University and Holcombe Boulevard, is ... Read More »

How Cyber Monday and Online Shopping Are Transforming America’s Malls

HOUSTON – (By Dale King, Realty News Report) – Lots of enclosed regional malls across the nation enjoyed successful associations with the shopping public during the latter half of the 20th century by following a fairly simple formula: Offer a variety of stores, lots of convenient parking, a food court, a some restaurants with table service, heaps of sales and ... Read More »

FedEx HQ in Plano Sold to Washington, D.C. Investor

DALLAS – The FedEx office headquarters at Legacy West in Plano, near Dallas, has been purchased by PRP Real Estate Investment Management of Washington, D.C. The seller, KDC Real Estate Developments & Investments, was represented by CBRE’s Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill. Completed in 2015 by KDC, the four-story, 263,621-SF office building ... Read More »

Capital Plastics International Sells Stafford Building

STAFFORD, Texas — Capital Plastics International sold its 70,000-SF office/distribution building on Cash Road in Stafford to Tarhong Properties. Jim Pratt and Trey Erwin of Colliers International represented Capital Plastics. Michael Brent with the City of Industry, California Lee & Associates office represented Tarhong Properties. Capital Plastics is relocating to 1601 Gillingham Lane in Sugar Land, a 330,000-SF building it ... Read More »

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