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Category Archives: Houston

CBRE: Texas Retailers Scored A+ on Back to School Shopping

(By Dale King) When it comes to back-to-school shopping, the Texas, Oklahoma and Arkansas triad packs more dollar-for-dollar wallop than most other parts of the USA, says a report prepared by SmartAsset, a web-based consumer financial information service provider. “Because of the region’s relatively low cost of living coupled with healthy median incomes, shoppers have the added bonus of stretching ... Read More »

Historic Peak: Full Floor Leased at the Top of Art Deco Tower (Former HQ of Gulf Oil and Texaco)

HOUSTON – Colvill Office Properties has closed on a 4,000-SF office lease to The Mitchell Group at The Jones on Main, a rebranded historic office project in downtown Houston. The historic Art Deco project was once the headquarters of Gulf Oil Co. many years ago. The Mitchell Group leased the entire 31st floor in the project, which has small floor ... Read More »

Transwestern: Sublease Supply Up 118 Percent in Houston Office Market

HOUSTON – The Houston office market has experienced a 118 percent increase since the first quarter of 2015, according to Transwestern. The surge in sublease space supply – Houston office market has 11.2 million SF of sublease space currently on the market – has developed as energy firm have shed excess office space. In a recent sublease move downtown, Freeport ... Read More »

Major Retail Tenant Signed for New Mixed-Use on Kirby Drive

HOUSTON – A large entertainment and restaurant tenant has leased space in the Kirby Collection mixed-use project which is under construction on Kirby Drive, just north of Richmond Avenue in the Inner Loop of Houston The tenant – Pinstripes – leased 33,830 SF in the  Kirby Collection. Pinstripes is a dining and entertainment venue will feature a variety of activities including ... Read More »

Halliburton Selling Off 48-Acre Campus in Houston’s Westchase District

HOUSTON – Halliburton Co., one of the largest oilfield service companies in the world, is selling its 48-acre Oak Park campus in the Westchase District. Halliburton has laid off thousands of employees as oil drilling activity has dried up over the last two years because of low oil prices. Rudy Hubbard and Kevin McConn of JLL are marketing the property ... Read More »

August was Best Month for Home Sales in Houston Real Estate History

HOUSTON – August was the best month for home sales in the history of Houston real estate, with a record 7,914 homes sold, the Houston Association of Realtors announced Wednesday. The monthly sales total surpassed the previous monthly sales record set in July 2015 when 7,898 homes were sold, HAR reported. The strong August continued an exceptionally strong year for ... Read More »

NAI Partners: Houston’s Crane-Served Manufacturing Buildings Suffering Because of Oil Decline

HOUSTON – Demand for crane-served manufacturing buildings has declined sharply in Houston because of the drop in oil prices and drilling activity, according to a report by NAI Partners. Although other sectors of Houston’s industrial market are strong, the crane-served market has 1.4 million SF of sublease space available. Year-to-date the crane-served market has 1 million SF of negative absorption, ... Read More »

Glenbrook Square Shopping Center Sold

HOUSTON – Telephone Square LLC., a California investment entity led by Ai Hoa Wu, has acquired a 73,000-SF retail center near Houston’s Hobby Airport. The Kroger-anchored center, which is 92 percent leased, is located at the northwest corner of Telephone Road and Bellfort Avenue. The seller, Houston REIT Weingarten Realty Investors, was represented by George Cushing and Wendy Vandeventer of ... Read More »

Deadline Approaches for NMHC Apartment Technology Competition

DALLAS – The National Multifamily Housing Council has announced the deadline for entering its Launch Pad technology competition is Sept. 11, 2016. The competition will recognize new technology-based solutions for the apartment industry. The winner will be announced at the NMHC OPTECH multifamily conference Nov. 14-16 in Dallas. The OPTECH multifamily conference focuses on property operations, marketing, technology, sustainability and ... Read More »

Colliers: Land Purchased for GE Betz Facility in Tomball

HOUSTON – GE Betz Inc., a division of GE Power and Water, has acquired a tract in Tomball, northwest of Houston, where it will build a laboratory and office. The $25 million project, the second for the Tomball Business And Technology Park, will create 75 jobs. GE Betz purchase a 5.5 acre tract of land on Spell Road just west of ... Read More »

Anchor Tenant Signs at New Office Tower Built on Courtyard at St. James Wedding Venue

HOUSTON – A new office building, built on the site of a former Courtyard at St. James wedding venue in the Galleria/Tanglewood area of Houston, has gained an anchor tenant. Houston-based construction law firm, Andrews Myers P.C., has leased the top two floors (a total of 30,102 SF) in the 1885 Saint James Place building. The new building is a ... Read More »

Houston is No. 1 in the Nation in Retail Construction

HOUSTON – Houston will lead the nation in retail space construction this year with more than 3.2 million SF of space completed, according to the third quarter retail report from Marcus & Millichap. This comes even as Houston job growth is slowing. Marcus & Millichap is projecting only 5,000 jobs will be created in the Houston area in 2016, as ... Read More »

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