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Category Archives: Houston

Massive Prologis Warehouse Project Hits 100 Percent Occupancy

HOUSTON – The 2 million SF Prologis warehouse portfolio in the West by Northwest Industrial Park has reached 100 percent occupancy, according to Transwestern, the Houston-based commercial real estate firm. “We are pleased to bring this assignment to full occupancy,” said Darryl Noon, senior vice president of Transwestern. “Despite some of the national attention Houston is receiving regarding economic uncertainties, ... Read More »

Office Lease Signed in West Houston

HOUSTON – Lubrizol leased 50,000 SF in the One Briarlake Plaza building at 2000 W Sam Houston Parkway in the Westchase market of west Houston. Lubrizol signed a lease for the entire third and fourth floors of the 20-story building. The Wickliffe, Ohio-based chemical company, originally leased 38,133 SF in the office building. JLL Vice President Ryan Barbles represented the ... Read More »

Pasadena Center Sold

PASADENA, Texas –  Allendale Shopping Center, LP has sold the Allendale Shopping Center in the Pasadena community to SJGZ Investments. The center is located at 2000 and 2131 Richey Street. Allendale Shopping Center, LP was represented by Marshall Clinkscales of Colliers International.  The buyer was represented by Matt Moake of HighStreet Net Lease Group. The center is on the east side ... Read More »

Condos are a Hot Commodity with Texas Homebuyers

(By Dale King) AUSTIN — Condominium sales in Texas’ major metro areas increased during the first half of 2016 as baby boomers, retirees and millennials discovered revived downtown areas where workplaces, restaurants, shopping opportunities and entertainment spots have re-staked their claims, says the Condominium Mid-Year Sales Report released by the Texas Association of Realtors. Austin, Dallas, Houston and San Antonio ... Read More »

Spec Construction: Crane-Served Industrial Building Coming to West Side of Houston

HOUSTON – Vigavi West Ten has broken ground on a 22,500 SF speculative crane-ready industrial building at West Ten Industrial Park in Katy, west of Houston. “We have seen demand pick up for crane-ready buildings in West Houston,” says Luis Villarreal, managing prinicipal for Vigavi Realty. In 2015, the Parkside Capital, in partnership with Vigavi, purchased 35 acres for the ... Read More »

Q&A – Teresa Lowery of Colliers: The Highs and Lows of Today’s Multifamily Market

Houston’s multifamily market has seen better times. The sector’s pricing is weak, rent growth is close to disappearing and multifamily construction continues unabated. Free rent is being offered in some neighborhoods.  Can the situation get worse?  Or better? To find out where the multifamily investment market is headed, Realty News Report talked with Teresa Lowery, Senior Managing Director, multifamily, in the Houston ... Read More »

Colliers: Office Vacancy Soars in Houston Suburbs

HOUSTON – Houston’s office vacancy rate jumped sharply in the second quarter, jumping to 16.2 percent, up from 14 percent in the second quarter of last year, according to the Colliers International real estate firm. The downturn in the energy industry forced thousands of layoffs and companies emptied great blocks of office space. Tenants are renewing existing leases, but more ... Read More »

Third Palm Capital Opens Major Energy Corridor Campus

HOUSTON – As the first phase of a major development, Third Palm Capital has engaged Boxer Property to repurpose and lease the existing office buildings on the former Exxon Mobil Chemical headquarters campus in Houston’s Energy Corridor. Christened Republic Square, the 35-acre project is located on Interstate 10, west of Eldridge Road adjacent to Terry Hershey Park. After purchasing the ... Read More »

Work Begins on 1.1 Million SF Hotel/Apartment Tower Near Medical Center

HOUSTON – Medistar Corp. has started construction on a 21-story, 353-room InterContinental Hotel and a Greystar apartment tower at 6750 Main St., across from the Texas Medical Center. Medistar, a Houston firm led by Monzer Hourani, is developing the project in partnership with TRC Capital Partners, which was formerly known as Redstone. PCCP LLC provided $73.1 million in construction financing. ... Read More »

NW Houston: 200 MPH Bullet Train, a New Freeway Usher In Rapid Growth at US 290/Brookhollow

HOUSTON – Construction on Houston’s US 290 corridor is expected be completed by the end of next year, with some overpasses and connector ramps finished before 2017, according to a consultant involved with the Texas Department of Transportation (TxDOT’s) massive 38-mile project. Speaking at an event Tuesday organized by Bisnow – which calls itself North America’s largest platform for commercial ... Read More »

Midyear Record: The First Half of 2016 was Best Start Ever for Houston Home Sales

HOUSTON – Houston’s single-family homes are selling at record pace through the first half of 2016, according to a midyear sales report by the Houston Association of Realtors. Through the first six months of the year, 36,393 homes were sold in the Houston area – the strongest beginning ever for a year of residential selling. It represented a 2.7 percent ... Read More »

Q&A: Master Park Designer James Burnett: Tearing Down the Pierce Elevated and Other Transformative Ideas for Houston

When James D. Burnett founded his landscape architecture practice, the Office of James Burnett (OJB), in 1989 the Houston-based firm had one part time employee.  Within 14 years, OJB boasted 14 employees and had opened a second office in San Diego. A decade later, the firm took its brand to Boston. Today, OJB employs nearly 60 professionals in its three ... Read More »

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