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Natural Disasters: The Human Toll Overshadows Real Estate Damages, NAREE Panel Told

ORLANDO – (Realty News Report) – After natural catastrophes such as hurricanes, floods and wildfires, real estate analysts and insurance companies tally up the billions in damage, but their cold numbers don’t take into account the toll on human beings. “During Hurricane Harvey in August, Houston endured 50 inches of rain,” said Ralph Bivins, editor of Realty News Report and a past president of the National Association of ... Read More »

Houston Home Sales Hit Record High in 2017

HOUSTON – (Realty News Report) – 2017 was the best year in the history of Houston realty sales, according to year-end numbers released by the Houston Association of Realtors. The association reported 79,117 single-family homes were sold in the Houston area last year, up 3.5 percent over the 76,450 sales in 2016. By comparison, five years ago in 2012 when ... Read More »

Jackson Walker Leases Space in 5 Houston Center

HOUSTON – (Realty News Report) – The Jackson Walker law firm has leased 77,015 SF at 5 Houston Center, a 27-story story building in downtown Houston. Transwestern Executive Vice President Eric Anderson and Vice President Tyler Garrett represented the landlord, Spear Street Capital. 5 Houston Center, a 580,000-SF tower was developed by Crescent Real Estate and it opened about 17 ... Read More »

Houston Expected to Lead Nation in New Home Sales in 2018

ORLANDO – (Realty News Report) – Houston is expected to have the highest new home sales this year, followed by Dallas in the second spot with Austin and San Antonio also in the Top 7, according to CoreLogic’s 2018 outlook presented at the NAHB International Builders Show in Orlando Tuesday. Frank Nothaft, chief economist at CoreLogic — an Irvine, Ca.-based ... Read More »

Braun Enterprises Buys Houston Office Building

HOUSTON – A partnership led by Houston-based Braun Enterprises acquired  5757 Woodway, a 162,188-SF office property near the Memorial area and the Galleria. Danny Miller and Marty Hogan of HFF represented the seller, Woodway Office Partners, LLC, a joint venture sponsored by locally based Fuller Realty Partners and Harbert Management Corporation. Braun Enterprises is a Houston firm led by Gabriel ... Read More »

Tilman Fertitta Named Person of the Year By Realty News Report

HOUSTON – Tilman Fertitta, the Houston-based restaurateur, real estate developer and hotelier has been named Realty News Report’s Person of the Year for 2017. In the Galleria area of Houston, Fertitta is wrapping up construction on 38-story mixed-use tower, with a hotel, 150,000-SF of office space and upscale residences on a 10-acre site on the West Loop near San Felipe. ... Read More »

Hanover Starts 39-Story Apartment Tower on Kirby Drive

HOUSTON – (Realty News Report) – Construction started on Hanover River Oaks, a 39-story apartment project on a 1.6-acre site on Kirby Drive, according to HFF. HFF worked on behalf of the project’s developer, Houston-based Hanover Co. and institutional investors advised by J.P. Morgan Asset Management to capitalize the equity and construction financing for the development of the project. The 370-unit ... Read More »

Denver Project Sells for $339,527 Per Unit

DENVER – (Realty News Report) – Griffis Residential acquired The Huron, a newly delivered 296-unit apartment community in downtown Denver near Coors Field, according to ARA Newmark. Denver-based Griffis Residential, which has a portfolio of 8,000 units, purchased the property for $100.5 million or $339,527 per unit, ARA Newmark reported. The seller, Columbus, Ohio-based developer Edwards Cos., was represented by ... Read More »

Oregon Investor Buys Houston Multifamily Complex

HOUSTON – (Realty News Report) – Hayden Properties acquired the 216-unit Stoneleigh on Spring Cypress, a garden-style apartment community in the northwest Houston suburb of Spring. HFF marketed the property, 7215 Spring Cypress Road, on behalf of the seller, Seneca Investments. Completed in 2005, the property is 94 percent leased. Hayden, based in Lake Oswego, Ore., controls a portfolio of ... Read More »

Lionstone and Crescent Developing Mixed-Use Project in Denver

DENVER – (Realty News Report) – A partnership of Lionstone Investments and Crescent Real Estate is developing a spec mixed-use project near downtown Denver. The 152,000-SF project, called Platte Fifteen, will be built near the banks of the Platte River. The site is near the LoDo district, Coors Field and Denver’s Union Station. Lionstone is a Houston-based investment firm. Crescent, ... Read More »

Warehouse Boom: 3 Million SF Broke Ground in Fourth Quarter, CBRE Reports: Land at $196,000 Per Acre

HOUSTON – (Realty News Report) – Warehouses totaling more than 3.3 million SF broke ground in Houston in the fourth quarter of 2017, accentuating a trend for higher industrial land prices, according to CBRE. Many of the new industrial buildings are being constructed on a spec basis, CBRE said, although Hines and Arch-Con Construction are building 600,000 SF for Emser ... Read More »

Houston Office Market: Hurricane Behind; New Year Ahead: Q&A with Chris Lewis

Hurricane Harvey hit Houston four months ago. At the time, the storm was characterized as being extremely rough on residential real estate, but not very severe on the office market. But as the weeks rolled by, the sector saw evidence that the office market was not so bulletproof. Skanska’s new buildings in the Energy Corridor experienced problems and tenants such ... Read More »

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