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Urban Myth Debunked: Texas Suburbs (Not Urban Areas) Lead the Nation in Population Growth, CBRE Reports

HOUSTON – (By Dale King) – Urban densification, the suggestion that homeowners throughout the USA – possibly led by Millennials, empty nesters and senior citizens — are fleeing from the suburbs to the urban lifestyle at the core of metropolitan America, may be a short-lived trend or, perhaps, a myth, say studies conducted by CBRE Research. Suburban growth has surpassed increases ... Read More »

Dunhill Partners Purchases Pearland Retail Center

PEARLAND, Texas – The Center at Pearland Parkway I, a 167,704-SF shopping center on the eastern side of Pearland has been purchased by Dunhill Partners of Dallas. The project was a joint venture between Stream Realty Partners and Dallas-based Thackery Partners. Rusty Tamlyn and Ryan West of HFF represented the sellers. Situated at the intersection of FM 518 and Pearland ... Read More »

Impressive Job Growth Rebound for Houston with 56,100 New Jobs Created

HOUSTON – The Houston area economy added 56,100 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 June 30. Five sectors accounted for the bulk of the gains: healthcare, education, fabricated metal products, restaurants and bars, ... Read More »

The Good, Bad and Ugly of Houston Real Estate: The Midyear Assessment by NAI Partners

HOUSTON – (By Michelle Leigh Smith) – Houston’s commercial real estate market presents some highs and some lows at midyear 2017. The retail and industrial sectors show strength while the office market has seen better days. And the failure of West Texas Intermediate crude to rise above $60 a barrel puts a damper on hopes for another major growth spurt ... Read More »

Midway/Valencia Opening The George Hotel Near Texas A&M University

COLLEGE STATION, Texas – The George, a 162-room hotel developed by Midway and Valencia Group, will open in August near the Texas A&M University campus. The hotel’s name is taken from notable “Georges” such as President George H.W. Bush and George Mitchell, the developer of The Woodlands. The hotel is part of Midway’s Century Square, a 60-acre destination by Midway ... Read More »

Texas, Fla. and Calif. Lead the Way to Record Realty Purchases by Foreign Buyers

WASHINGTON – With Texas, Florida and California leading the way, foreign investment in residential properties surged 49 percent over the last year, according to a new report by the National Association of Realtors. NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate, found that foreign buyers and recent immigrants purchased $153 billion of residential property between April 2016 ... Read More »

$66 Million Construction Loan Set for Washington Avenue Mixed-Use Project

HOUSTON – Holliday Fenoglio Fowler arranged $66 million in construction financing for Phase I of the Buffalo Heights development, a grocery-anchored, mixed-use project on Washington Avenue near Heights Boulevard. The development will have a 96,000 SF ground-level H-E-B store, 36,800-SF of boutique office space, 232 multifamily units and 2,000 SF of additional retail. The seven-story, mixed-use building is due for ... Read More »

Houston’s Multifamily Building Boom is Coming to an End; While Construction Surges to Record High Nationally

HOUSTON – Although the Southeast Texas multifamily building boom is coming to an end soon, Houston currently ranks third in the nation in apartment construction, following New York and Dallas, according to Yardi Matrix. New York will add 26,739 new units in 2017. Dallas-Fort Worth ranks second with 24,960 completions, followed by Houston with 17,960 units delivered, according to the ... Read More »

Houston-Focused Miami Investor Buys Another Apartment Complex; Moving to Lake Charles Market

HOUSTON – Miami-based Advenir Inc., one of the the most active multifamily investors in southeast Texas, has acquired a project in Lake Charles, La. near the Texas/Louisiana border. A number of casinos are located in Lake Charles, which is a three-hour drive west of New Orleans and two hours east of Houston. Advenir bought the 224-unit The Charlestonian at Lake ... Read More »

A Rebound Sign? – Oilfield Equipment Manufacturer Leases More Space in North Houston

HOUSTON – Basintek LLC, a manufacturer of oilfield equipment, has renewed its existing lease and leased an additional 50,000 SF of industrial space at its manufacturing facility in north Houston near George Bush International Airport. The 200,000-SF deal is one of the largest industrial leases of 2017, reports NAI Partners. Nick Peterson and John Ferruzzo of NAI Partners represented Basintek, ... Read More »

Hines Selling Houston Multifamily Project on Café Adobe Site

  HOUSTON – Hines is selling its 21 Eleven apartment project near the southwest corner of Westheimer Road and South Shepherd Drive in Houston’s Inner Loop. Berkadia’s multifamily group, led by Ryan Epstein, will handle the sale of the 215-unit, five-story community, 2119 Westheimer at Peckham Street. Completed in March 2015 on the site of the old Café Adobe restaurant, ... Read More »

Two Multifamily Properties Sold

HOUSTON – Mosaic Residential, a Houston-based multifamily investment and management company, has acquired two apartment communities in Humble on the northeast side of Houston. Clint Duncan and Matt Phillips, senior vice presidents at CBRE, represented the seller, Gaia Real Estate. The portfolio consists of two value-add multifamily assets: Eagle Crest and Timberlakes at Atascocita. Eagle Crest is a two- and three-story, ... Read More »

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