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Category Archives: Houston

Cousins Announces Two Leases in Houston

HOUSTON — Cousins Properties has signed two large lease extensions in Houston totaling  216,000 square feet with Direct Energy and Cox Radio. “I’m very pleased to announce two significant lease transactions in our Houston portfolio,” said Larry Gellerstedt, president and chief executive officer of Atlanta-based Cousins. “With the execution of Direct Energy and Cox Radio, we have successfully mitigated a ... Read More »

Northeast Houston: Is It Time for a Growth Surge?

HOUSTON – Northeast Houston, bypassed for decades as growth surged elsewhere, is gaining jobs and a growing share of single-family construction, although it still lacks a distinct identity in the minds of many Houstonians. The northeast sector is now capturing 10 to 12 percent of new home sales, up significantly in recent years, says Scott Davis, regional director of the ... Read More »

Simon Planning to Upgrade Luxury Offerings in $250 Million Renovation of Houston’s Galleria

HOUSTON – Simon, the global retail real estate company, has announced a $30 million renovation of Houston Galleria’s luxury wing as part of $250 million re-do of the landmark mixed-use project. Complementing the previously announced construction of a new, state-of-the-art flagship Saks store, the addition of 110,000 square feet of new retail space and the creation of a 14,000 square ... Read More »

JLL’s Dan Bellow: Landlords Cut Rents as Houston Becomes a Tenants Market Again

HOUSTON – Long-time Houston broker Dan Bellow, president of Jones Lang LaSalle-Houston, says some Houston office buildings owners have reduced rents and overall rental rates are under pressure as Houston’s office market has become a “tenants’ market.” With energy company cutbacks and oil patch layoffs, oil companies are putting excess Houston office space  – some of it in brand new ... Read More »

Stag Industrial Buys Houston Building for $7.1 Million

HOUSTON – NAI Partners represented Stag Industrial Holdings in the acquisition of a 185,000 SF manufacturing building on 16.8 acres at 1020 Rankin Road in Houston. The price was $7.1 million. STAG Industrial is a self-administered and self-managed full-service real estate company focused on the acquisition, ownership and management of single tenant industrial properties throughout the United States. John Ferruzzo and ... Read More »

Kimco Buys Center in Northwest Houston

HOUSTON – Kimco Realty has purchased the Copperfield Village Shopping Center, a 165,293-square-foot, dual-anchored retail center in northwest Houston. HFF arranged the sale of the property on behalf of the seller, Copperfield Village Investors, L.P. Copperfield Village Shopping Center is situated on 16.43 acres at 7081 State Highway 6 North.  The property’s location in the 2,000-plus-acre Copperfield master-planned community places ... Read More »

Bringing 100 Years of Experience to the Table, Fred Griffin and Ed Wulfe Tackle Downtown Retail Assignment

HOUSTON – Bringing a combined 100 years of real estate development experience to the table, Houston developers Fred Griffin and Ed Wulfe have joined forces with Houston First Corp. to create restaurants and retail space around the George R. Brown Convention Center in downtown. Approximately 30,000 square feet of space will yield as many as seven new retail, restaurant, sidewalk ... Read More »

CoreNet Panel: Sublease Space Coming to Houston Office Market, Where Spec Projects are Over

HOUSTON – Energy companies are putting sublease space on the market in Houston where an oil price collapse has derailed the expansion plans for a number of firms, according to speakers at a real estate luncheon Tuesday. “There’s a lot of sublease space coming back on the market,” said Patrick Duffy, president of the Colliers International realty firm in Houston. ... Read More »

Chase Bank Moving on Two Tracts in Houston

HOUSTON – Chase Bank is offering two prime Houston parcels for sale – in downtown Houston and in the Greenway Plaza area. The marketing effort to sell the land offers opportunities to developers that will include new branch banks and drive-through facilities. The downtown site – bounded by Congress, Milam, Franklin and Louisiana – is a full block in the ... Read More »

What Oil Bust? Houston Home Sales Surge in January

EDITORS NOTE: Houston has a 2.6 months supply of homes for sale, which is near a record low. The energy industry downturn will put pressure on Houston’s housing market this year. But with tight inventory and the creation of 80,000 new jobs, 2015 is going to be another strong year for home sales. There will be no significant drop-off in ... Read More »

Novare Breaks Ground on 24-Story Apartment Tower on Main Street in Downtown Houston

HOUSTON – Novare Group announced it has broken ground on SkyHouse residential high-rise project on Main Street in downtown Houston. The 24-story building will be located across the street from Novare’s recently completed SkyHouse Houston. The new building, called SkyHouse Main, 1725 Main, will be a 336-unit project on a block bounded by Main, Fannin, Pease and Jefferson. Equity financing ... Read More »

Transwestern’s New Building Will Open 100 Percent Leased with New Tenant Signings

HOUSTON – Transwestern has signed three new leases to bring its new Westway Plaza office building in northwest Houston to 100 percent pre-leased. The 314,000 square-foot five-story Westway Plaza will be ready for occupancy in second-quarter 2015. Transwestern Development Co. is developing the project, 11330 Clay, at the Sam Houston Tollway. General Electric Co. leased 150,000 square feet in 2014 and ... Read More »

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