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Category Archives: Houston

Austin Firm On Mission to Buy Houston Properties

HOUSTON – PPA Group, an Austin-based multifamily investment firm, has acquired its first apartment project in Houston and it is seeking more opportunities in the Bayou City. The 252-unit Cypress Ridge project, 2331 Bammelwood in north Houston, from CrestMarc of Dallas. “We like the diversity of the economy in Houston and think it is a great time to invest there,” ... Read More »

Don’t Mess with Texas Realty: Q&A With Vicki Fullerton, Chair, Tx Realtors Assn.

(By Dale King) HOUSTON – Realtor Vicki Fullerton, a broker associate at RE/MAX The Woodlands & Spring, took the stage at the Texas Realtors Conference in Galveston last month to take on the duties of chairman of the Texas Association of Realtors. The 38-year residential real estate veteran told Realty News Report during an interview that home builders “can’t keep up” ... Read More »

Spire to Sell Chase Tower in Austin for Anticipated $200 Million

AUSTIN – Dallas-based Spire Realty has retained CBRE to sell its 390,000-SF Chase Tower in downtown Austin. The tower, which is 99 percent leased, could attract offers of more than $200 million or about $514 per SF, according to Real Estate Alert. The 22-story building, located on West 6th Street, houses the Headliners Club on the 21st floor. Spire acquired ... Read More »

Avera Acquires Industrial Site at Port of Houston

HOUSTON – AVERA Companies, a Houston commercial real estate development, construction and investment firm, has acquired HMS 850, a 41.7 acre marine site at the entrance of the Houston Ship Channel. HMS 850 is located in SE Houston, near both Barbours Cut and Bayport container terminals, with direct access to IH-10 and Independence Parkway, directly across from the San Jacinto ... Read More »

Hines Progressing with Tallest Tower on the West Coast

SAN FRANCISCO – Salesforce Tower, which is under construction in San Francisco, has surpassed other towers in height to become the tallest building on the West Coast.  Hines and co-development partner the Boston Properties REIT, announced that on Friday, October 14, 2016, Salesforce Tower will officially be the tallest building in San Francisco. Soaring to new heights – Salesforce Tower surpasses the ... Read More »

Houston’s Home Sales are on a Record-Setting Pace, HAR reports

HOUSTON – Houston’s home sales are on a record-setting pace this year. With three quarters of 2016 in the record books, Houston single-family homes sales are running ahead of last year. Year-to-date through September, home sales are up 1.3 percent over the comparable nine-month period of 2015, according to the Houston Association of Realtors. “With home sales ahead of where ... Read More »

Huge Houston Real Estate Company Quietly Created Last Friday

(By Ralph Bivins) HOUSTON – One of the biggest Houston-focused real estate companies ever was born last week. It’s holdings: All Houston. All office. The new Houston REIT began trading on the New York Stock Exchange on Friday, Oct. 7. The new REIT was created as the byproduct of the $2 billion merger of Cousins Properties and Parkway Properties. When ... Read More »

Upper Kirby District Leases Space in Plaza at Audley

HOUSTON – The Upper Kirby District organization is moving into a recently redeveloped building on the Southwest Freeway, near Levy Park in the Inner Loop of Houston. The 93,000-SF building, 3120 Southwest Freeway was acquired by Stream Realty Partners in a partnership with American National Insurance Company in 2012. Since then, the partnership has completed a multi-million-dollar renovation program. “When ... Read More »

Crescent Fund Buys Six Multifamily Projects

FORT WORTH — Crescent Real Estate LLC, a Fort Worth-based firm led by John Goff, used its recently established investment fund to acquire six multifamily properties, including the RiverBend Apartments in the Houston area. The 192-unit RiverBend Apartments are located on Wesley Drive in League City, southeast of Houston near Interstate 45. Acquired by Crescent through “off-market” deals, the multifamily ... Read More »

HISD Eyes Major Chevron Tract on Loop 610

BELLAIRE, Texas – The Houston Independent School District has been eyeing the 28-acre Chevron campus on Loop 610 in Bellaire, as a possible new location for Bellaire High School, according to a report in Southwest News community newspaper. Chevron recently announced it will vacate its Bellaire campus, move 900 employees to downtown Houston and sell the Bellaire campus in 2017. ... Read More »

Shell’s Departure and the Future of Downtown Houston’s Office Market: Q&A with Paula Bruns

Houston’s office market has seen better times.  Affected by the downturn in the energy market, more office space is chasing fewer tenants.  Several weeks ago, one of the global energy giants, Shell Oil, announced plans to leave downtown for its suburban facilities — Shell’s Woodcreek Campus and the Shell Technology Center. Shell had been an anchor in downtown Houston for ... Read More »

CBRE: Warehouse Construction Completions Huge in Third Quarter

HOUSTON – CBRE reports 6.4 million SF of industrial space was delivered in the third quarter and a significant amount remains under construction. Some 7.5 million SF of industrial space is currently in development, with 4.4 million SF of the construction activity centered in the Southeast Houston submarket. Even with the addition of the new space, the vacancy rate remains ... Read More »

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