Friday , 1 July 2016
Breaking News

Category Archives: Houston

Hines REIT Selling Major Properties in Liquidation Move

HOUSTON – Hines Real Estate Investment Trust, Inc., one of three public non-listed REITs sponsored by Houston-based Hines, will sell seven West Coast office buildings to a Blackstone affiliate for $1.162 billion as part of a plan to liquidate the REIT. Blackstone is acquiring 3 million SF of Hines REIT office properties including the Howard Hughes Center in Los Angeles; ... Read More »

Austin: How it Became an 18-Hour City with a Diverse Economy

AUSTIN – Record-setting office market performance and the increasing adoption of co-working spaces are just two of the six trends transforming Austin, Texas, into an 18-hour city, according to a new report from CBRE. Over the past decade, Austin has evolved from its ‘college town’ attitude into a dynamic metro with a dense urban core. In its new report, CBRE ... Read More »

Dow Chemical Leases Office Space in Clay Development’s New Deer Park Building

DEER PARK, Texas – Clay Development & Construction has landed Dow Chemical as an tenant in the “Petrochemical Corridor” office market on the east side of Houston. “Situated in Houston’s petrochemical corridor, Deerwood Office III is a full-service office location for companies serving industrial operations near the Ship Channel,” says company president Robert Clay. “This is Class A office space ... Read More »

In the Wake of Exxon Mobil’s Departure: Pain Felt; Patience Required

HOUSTON – (By Ralph Bivins) – On June 7, 2011, Exxon Mobil formally announced what Houston’s real estate community already knew – the energy firm purchased 385 acres for a 3 million square-foot campus north of Houston. Everybody knew the new campus would reshape the Houston real estate market. But the Houston real estate market was so strong, there wasn’t ... Read More »

Hines Opens Business Park in Southwest Houston

HOUSTON – Hines has completed the first phase of its Beltway Southwest Business Park, a 75-acre industrial project at the northeast corner of Beltway 8 and Fort Bend Toll Road on the south side of Houston. The master-planned business park is expected to have 950,000 SF of light manufacturing and distribution space. The development of Phase I, which consists of ... Read More »

What Oil Bust? Houston’s Home Sales Up 10 Percent in May

HOUSTON – Houston’s single-family home sales were up 10 percent in May over May of last year, according to the Houston Association of Realtors. HAR reported a total of 7,343 homes sold in May compared to 6,678 in May 2015. The association credited the gain to an increased supply of homes for sale. “We are seeing more normal market conditions ... Read More »

Hines/GM Pension Fund Greenspoint Buildings Posted for Foreclosure

HOUSTON – Greenspoint Place, a 1.5 million square foot office complex owned by a partnership of Hines and the General Motors Pension Fund, has been posted for foreclosure after losing Exxon Mobil as a major tenant. The foreclosure, slated to be concluded on July 5, is a rarity for Hines, a huge Houston-based development firm established by master developer Gerald ... Read More »

Realty News Report Editor Ralph Bivins Wins Unprecedented Five NAREE Journalism Awards

HOUSTON – Realty News Report editor Ralph Bivins won an unprecedented five awards in the National Association of Real Estate Editor’s 66th Annual Real Estate Journalism Competition. “This writer covers Houston real estate like a glove,” the judges said of Bivins’ work. “Whether he is writing about new building construction methods, the future of the Astrodome, or the acquisition of the ... Read More »

Engineering Firm Breaks Ground; 100 New Jobs Coming

  KATY – Pepperl+Fuchs broke ground last week on a 110,000-SF engineering facility in the Katy community’s West Ten Business Park near Houston. The project is near Interstate 10, west of the Grand Parkway. Pepperl+Fuchs will use the facility to design, build and certify equipment used in hazardous locations, such as oil refineries. “We are thrilled Pepperl+Fuchs is locating its ... Read More »

Moody National REIT Buys Hotel Near Seattle’s Space Needle for $74 Million

HOUSTON – Moody National REIT II, a Houston-based hotel REIT, acquired the Marriott SpringHill Suites Hotel in Seattle for $74.1 million. The 234-room hotel is located near Puget Sound and is walking distance to the Seattle Space Needle, neat Stewart Street in downtown Seattle. The Springhill Suites Seattle is positioned to benefit from Seattle’s demand from both business and leisure travelers. Seattle is a national hub for manufacturing, ... Read More »

Are Home Builders Headed for a Lot Shortage?

HOUSTON – Lawrence Dean, Metrostudy’s senior advisor for the Houston market, says nervousness about the energy industry and the Houston economy, is making it more difficult to finance lot development. “We have been heading toward a lot shortage for a couple of years,” Dean says. “The capital market has lost its appetite for investing in land development in Houston since ... Read More »

Home Builders Begin First of 6,000 Homes in New 3,642-Acre Master Planned Community in NW Houston

HOUSTON – A major master-planned community – that will eventually have 6,000 homes – is underway in northwest Houston. Home builders will begin construction in June on 10 model homes for the first phase of Elyson, its 3,642-acre community at Grand Parkway and FM 529, approximately six miles north of I-10 West. Chesmar Homes, Darling Homes, David Weekley Homes, Highland ... Read More »

Scroll To Top