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Space City’s Appeal: Three Sites in Houston for Amazon’s Massive Second Headquarters

HOUSTON – (Commentary By Ralph Bivins) – Houston is a cradle of innovation and entrepreneurial genius. Houston has been home to many of the innovators: computer magnate Michael Dell, fracking pioneer George P. Mitchell and Jeff Bezos – a student in the Houston Independent School District before he created Amazon, the world’s most dominant internet retailer. Houston is where President ... Read More »

$40 Billion in Petrochemical Construction Means Texas Needs More Trained Workers

PASADENA, Texas – (By Michelle Leigh Smith) – The Texas Gulf Coast has $40 billion in new petrochemical plants on the way, raising concerns about whether Texas will have enough certified workers to staff them. The coastal region boasts the largest petrochemical manufacturing complex in the United States, second largest in the world, and is home to 90 companies and ... Read More »

Remodeling/Expansion Planned at Iconic Bank of America Building in Downtown

HOUSTON –  (Realty News Report) – The old and almost forgotten Western Union building, which has been encased and hidden since the 56-story Bank of America Center tower was completed in 1983, is being opened up and redeveloped. The renovation of the Western Union space will add some 35,000-SF to the Bank of  America skyscraper, providing room for a new ... Read More »

Newmark Knight Frank Hires Three Office Pros

HOUSTON – The Newmark Knight Frank has hired a trio of office market veterans to augment its Houston office. All coming from Savills-Studley, Vice Chairman Mark Russell, Executive Managing Director Steve Biegel, and Executive Managing Director Jay Bonano have a combined 100+ years of experience. “NKF bringing aboard the members of this team is an important development for the continued ... Read More »

Lionstone Investments to be Acquired by Columbia Threadneedle

HOUSTON – (Realty News Report) – Columbia Threadneedle Investments has announced an agreement for Columbia Management Investment Advisers, LLC to acquire Houston-based Lionstone Partners, Ltd., a leading national real estate investment firm operated as Lionstone Investments. Lionstone is a participant in a number of of major projects in Houston, including several with Midway Cos., including the GreenStreet mixed-used development in ... Read More »

Energy Corridor Office Building Sold

HOUSTON – (Realty News Report) – An investment group affiliated with Gearing Capital Partners of Dallas acquired a 137,000-SF office building at 16001 Park Ten in the Energy Corridor. The building, which is 100 percent vacant, will receive a multi-million-dollar redo, according to Stream Realty Partners, which handled the sale. Stream’s Ryan Bishop represented the seller, Spirit Realty. Bishop and ... Read More »

Texas Investors Buy North Houston Apartments

HOUSTON – Trinity Casa Verde LLC purchased the Casa Verde Apartments, a 384-unit apartment complex in north Houston near Interstate 45, Airline Drive and Beltway 8. Trinity Private Equity Group of Southlake, Texas and TRI Consulting Group coordinated the acquisition of the two-story, garden-style apartment community. CBRE’s Clint Duncan and Matt Phillips arranged the sale on behalf of the seller, ... Read More »

Brookfield Agrees to Buy Office Complex in Downtown Houston for $875 Million

HOUSTON – Brookfield Asset Management has agreed to pay $875 million for the 4.2 million SF Houston Center office complex in downtown in one of the largest transactions ever for Houston. J.P. Morgan Asset Management, represented by HFF, elected to sell Houston Center as the Houston office market enters a new epoch that redefines Class A space in Houston. The ... Read More »

Houston Gains 53,500 New Jobs

HOUSTON – The Houston area economy added 53,500 new jobs over the last year, one of the strongest job growth reports since job growth tailed off in 2015, according to the Texas Workforce Commission. The report covered a 12-month period ending Aug. 31, 2017. The sectors accounting for the bulk of the gains: manufacturing, healthcare and employment services (temporary help ... Read More »

Hurricane Response: “Companies in Need” Can Find Short-Term Office Space Through HAR Website

HOUSTON – The Houston Association of Realtors and its Commercial Gateway division have joined forces with Xceligent to create an online “temporary space finder” for companies displaced by Hurricane Harvey. The short-term lease listings can be found on www.CommGate.com. HAR said the effort is focused on “identifying existing spaces where a landlord is willing to execute a short-term lease for ... Read More »

August Home Sales Off 25 Percent as Hurricane Harvey Hits Houston Housing Market

HOUSTON – (By Realty News Report) – Houston home sales declined 25 percent in August as Hurricane Harvey knocked out hundreds of deals at the end of the month. The Houston Association of Realtors reported 5,917 single-family homes were sold in August, down from 7,927 homes sold in August 2016. “Home sales were humming throughout the first three weeks of ... Read More »

Only 40 of Houston’s 1,200 Office Buildings Damaged by Hurricane Harvey, CBRE Reports

HOUSTON – The vast majority Houston’s office buildings escaped major damage from Hurricane Harvey with flood loss primarily confined to West Houston, Allen Parkway, West Loop/Galleria and FM 1960/Highway 249, according to an analysis by global commercial national real estate firm CBRE. Forty of Houston’s 1,200 office buildings were damaged to a certain extent. Single-family homes and multifamily properties were mostly ... Read More »

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