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Category Archives: Houston

Brookfield Acquires DoubleTree Hotel in Downtown Houston

HOUSTON –  Brookfield Property Partners has acquired the 350-room  DoubleTree Houston Hotel in downtown Houston. The 20-story hotel is adjacent to Brookfield’s Allen Center, a 7-acre urban office park that is undergoing a $48.5 million redevelopment. Brookfield Property will be consulting with architects for a major renovation of the DoubleTree, 400 Dallas St, said Paul Frazier, executive vice president and ... Read More »

Fein Refinances Houston Apartments for $92 Million, CBRE Reports

HOUSTON – CBRE Capital Markets’ Debt & Structured Finance team has secured a $92 million loan for the refinance of Willowick Park, a 552-unit apartment community in the Inner Loop of Houston. The apartments, recently developed by Houston-based Martin Fein Interests, are located west of Weslayan Street and south of West Alabama. The properties included in the transaction are: Aria ... Read More »

The Four Global Office Markets Taking the Hardest Hits from Oil Bust: Calgary, Moscow, Aberdeen And, Of Course, Houston

(By Dale King) Not all energy-producing markets are created equal – particularly those sent reeling by the double whammy of low fuel prices and decreased demand for office space. A report just released by global real estate services research firm Cushman & Wakefield plunks Houston firmly into that category along with such other highly oil-influenced cities as Moscow, Aberdeen and ... Read More »

Asset Plus Multifamily Firm Leases Office Space for HQ

HOUSTON – Asset Plus Companies, a Houston real estate organization, has leased 29,026 SF of office space in west Houston for its headquarters. Dan F. Boyles, Jr. of NAI Partners represented Asset Plus in the lease negotiations, while Richard Plessala of American Medical Resources represented the landlord, 950 Corbindale, LP. The building is located near Interstate 10, west of Voss ... Read More »

Colliers: Fort Bend Office Market Softens

SUGAR LAND, Texas – The Fort Bend office submarket of the southwest side of Houston has experienced rising vacancy rates and declining rental rates, according to Colliers International. Fort Bend County’s average office vacancy rate in the third quarter was 10.1 percent, up from 8.8 percent in the third square of 2015. The Houston office market has been soft in ... Read More »

A Few Things Houston Real Estate People Should Be Thankful For

The memory of the worst Thanksgiving Day in history is fading. That was November 27, 2014 when instead of eating turkey, OPEC decided to wage war against the Texas energy industry by declining to cut oil production. Oil prices went into a nosedive, drilling activity was shut down and thousands of employees were laid off. Houston is still in recovery, ... Read More »

Can Cities Learn Anything from Suburbs?

HOUSTON – It’s no secret that Millennials worship The Heights and are enthralled by Houston’s Inner Loop in general. A few years ago, I saw this graffiti scrawled on the side of a building in Houston’s Lower Montrose district” “There is No Life in the Suburbs.” Without a doubt, Houston’s far-flung suburbs can be boring with uniform housing stock, an ... Read More »

Republic Square and Third Palm Capital: Energy Corridor Site with Long-Term Potential

HOUSTON – Third Palm Capital has opened Republic Square, located on a large parcel of land in the Energy Corridor of west Houston. The heavily wooded site was formerly the site of the Exxon Chemical campus. While there was a lot of inaccurate information going around about Republic Square, Realty News Report was the first news outlet to sit down ... Read More »

CBRE Finds Tenants to Fill 165,000 SF of Sublease Space in Heritage Plaza

  HOUSTON – CBRE has leased 165,000 SF of sublease space in Heritage Plaza, a skyline landmark at 1111 Bagby in downtown Houston, to five subtenants. CBRE represented sub-landlord Noble Energy is securing the five sub-tenants, in deals signed in 2016. “The sublease of the Heritage Plaza property resulted from the completion of our acquisition of Rosetta Resources and integration ... Read More »

Law Firm Subleases Office Space in Downtown Houston

HOUSTON – The Thompson & Knight law firm has leased 70,000 SF of sublease space in the BG Group Place building at 811 Main in downtown Houston. BG Group is vacating the building, which was developed by Hines. CBRE’s Kevin Kushner, Charles Gordon and Lucian Bukowski represented Thompson & Knight in the lease transaction. “The opportunity to create a modern ... Read More »

Kitchen Transformation Tour 2017: Exclusive Sneak Peek by Realty News Report

HOUSTON – (By Michelle Leigh Smith) – What’s compelling enough for the Royal family should be good enough for the discerning American. “The kitchen of the future will be a Howdens kitchen,” proclaims Rob Fenwick, Chief Operating Officer for UK-based Howdens – one of the largest cabinet makers in the Western hemisphere. With Houston apartment developers, architects and home builders ... Read More »

Houston Economist Bill Gilmer’s Forecast: 2017 Will Be No Winner

HOUSTON – Sobering predictions came out of the Institute for Regional Forecasting Fall Symposium Thursday by Houston economist Dr. Bill Gilmer of the University of Houston. Gilmer, in a presentation before hundreds at the Hyatt Regency hotel ballroom, said Houston has been moving through a mild recession that has been obscured by a revision in governmental reporting of job growth. ... Read More »

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