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Category Archives: Houston

Hines Selling Houston Multifamily Project on Café Adobe Site

  HOUSTON – Hines is selling its 21 Eleven apartment project near the southwest corner of Westheimer Road and South Shepherd Drive in Houston’s Inner Loop. Berkadia’s multifamily group, led by Ryan Epstein, will handle the sale of the 215-unit, five-story community, 2119 Westheimer at Peckham Street. Completed in March 2015 on the site of the old Café Adobe restaurant, ... Read More »

“Outstanding Building of the Year” – One Shell Plaza Wins International BOMA Award

HOUSTON – One Shell Plaza, the first downtown skyscraper developed by Gerald D. Hines, has been awarded an International TOBY (The Outstanding Building of the Year) Award at the 2017 Building Owners and Managers Association (BOMA) International Conference & Expo in Nashville, Tenn. The 50-story tower, which is owned by Busycon Properties LLC, won in the “Renovated” category. The building, ... Read More »

“Outstanding Building of the Year” – Hess Tower in Houston Wins International BOMA Award

HOUSTON – The Hess Tower in downtown Houston was a recipient of the International TOBY (The Outstanding Building of the Year) Award at the 2017 Building Owners and Managers Association (BOMA) International Conference & Expo in Nashville, Tenn. CBRE manages the Hess Tower, which won in the BOMA “Corporate Facility” category. The 29-story office building, 1501 McKinney, is located adjacent ... Read More »

Celebrating Hines’ Main Street Tower – His 21st Addition to Houston Skyline

  HOUSTON – (By Michelle Leigh Smith) – At 91, Gerald D. Hines opened his sexy new skyscraper this week. Towering 48-stories above Main Street and topped with a sloped crown, 609 Main at Texas has become a must-see destination – as hundreds of onlookers came to the grand opening celebration Wednesday night to view Hines’ latest urban handiwork. This ... Read More »

Houston No. 2 in Nation in Housing Starts, Dallas No. 1, Reports Metrostudy

HOUSTON – Houston ranks No. 2 in housing starts, slightly behind Dallas, which leads the nation. In other words, the Lone Star State is the shining star in homebuilding so far in 2017. Houston recorded 25,789 housing starts for the 12-month period ending in March 31, 2017, according to Metrostudy. In the same 12-month period Dallas had 30,017 starts. Showing ... Read More »

Patrinely Group Delivers New Multifamily Project in West Houston

HOUSTON – Patrinely Group, a Houston-based firm that has developed 4,300 apartment units around the nation, delivered Folio West, a 266-unit multifamily complex at 2525 Citywest Boulevard with frontage on Westheimer Road. The project is owned by Crimson Real Estate Fund and its co-investment partner USAA Real Estate Co., Realty News Report has learned. The four-story project, designed by LRK ... Read More »

New Office Building Under Construction in Sugar Land

SUGAR LAND, Texas – E Contractors has broken ground on a 22,000 SF office building in the Sugar Land community in Fort Bend County. Located in the Lake Pointe area near the northwest corner of Highway 6 and U.S. 59, the two-story structure will have a modern glass exterior and steel construction. E Contractors is both the builder and developer ... Read More »

HCA Buying Four Houston Hospitals to Add 1,400 Beds to Southeast Texas Portfolio

HOUSTON – HCA has agreed to purchase three hospitals in Houston from Tenet Healthcare and another Houston-area hospital from Community Health Systems. The deals will give the Nashville-based HCA an additional 1,398 beds in the Houston area. The agreement with Tenet includes 423-bed Houston Northwest Medical Center, 181-bed Cypress Fairbanks Medical Center Hospital and 444-bed Park Plaza Hospital. “The addition ... Read More »

More Than 75 Banks Closed in Houston as Online Banking Spreads

HOUSTON – With the popularity of online banking surging, banks have closed 44 branch banks in the Houston are since 2013 and more closures are coming soon. These totals reflects the net loss in the number of branch banks, with many banks closing, even as new banks were built. Over a decade ago, banks began building hundreds of branches in the ... Read More »

Pair of Bellaire Office Buildings Sold

BELLAIRE, Texas  – CBRE Capital Markets arranged the sale of Bellaire Atrium I and II, a pair of  six-story office buildings on Loop 610 in Bellaire, near Fournace Street. SLS Properties purchased both office buildings, located at 5909 and 5959 West Loop South in Bellaire, Texas, from 5909-5959 Realty, Ltd., an entity affiliated with Braun Enterprises. The buildings contain a total of 152,304 ... Read More »

The “Missing Mile” in the Energy Corridor is Finally Complete

HOUSTON – The “Missing Mile” roadway in the Energy Corridor has been completed. The “Missing Mile” is a recently constructed stretch of Park Row, a street that runs parallel to Interstate 10 in west Houston. “The completion of Park Row not only represents a dramatic improvement in transportation in West Houston, but also Houston’s can-do attitude. This was a very ... Read More »

Expansion Era: Q&A with New Arch-Con President Jason Cooper

Houston’s real estate market has seen better times but Houston-based Arch-Con Construction is not feeling the effects since they have diversified across product types and into other metropolitan areas. Headed by CEO Michael Scheurich, Arch-Con has nearly 4 million-square-feet of commercial projects currently under construction with a projected revenue of $300 million for 2017, a 33 percent increase over last year. In Houston alone, the ... Read More »

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