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Category Archives: Houston

Houston Bucks Trend: RNR Special Report From the ULI Meeting in Philadelphia

(By Realty News Report) – PHILADELPHIA – Overall U.S. office vacancy rates are expected to decline to 12.6 percent this year and 12.3 percent next, according to a new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate. Industrial/warehouse availability rates are predicted to inch up in 2017 and 2018, but remain below ... Read More »

Midway Plans Another 750,000 SF of Office in West Houston as New Tower Opens 75 Percent Leased

HOUSTON – Midway Cos., which has just opened its fifth office building in its CityCentre mixed-use development west Houston, is seeking tenants for two additional office towers on the northern edge of the project. The two new office towers, totaling 750,000 SF, will be built near Interstate 10, part of a northward expansion of CityCentre, which includes office, retail, hotels, ... Read More »

Oil’s Impact on Houston Hotel Development: The Q&A with Randy McCaslin

Houston’s lodging sector remains relatively strong, particularly with billions in petrochemical plants under construction in East Houston, expansions at the Texas Medical Center, last year’s opening of the Southwest Airlines International terminal at Hobby Airport and the 2016 NCAA Men’s Final Four. Next year Houston hosts the Super Bowl, which will further buoy the hospitality market. Where is the hotel ... Read More »

Commercial Development Begins in Midway’s Memorial Green with Six Tenants Signed

HOUSTON – Midway, a Houston-based real estate development and investment firm, has signed six commercial tenants in Memorial Green, an upscale village of custom homes, shops and office space on Memorial Drive in west Houston. Memorial Green will feature 91 single-family luxury urban homes, a central green plaza and gated community parks, 50,000 square feet of Class-A office space with ... Read More »

Colliers: Houston Sublease Space Soars to 9.2 Million SF

HOUSTON – Houston’s supply of sublease office space rose to 9.2 million square feet in the first quarter as shrinkage in the energy industry combined with a robust construction pace has damaged the office market, Colliers International reports. Houston’s sublease supply stood at 3.8 million SF at the end of 2014 before energy companies began shedding their excess office space. ... Read More »

Houston’s Phoenix Tower to be Sold

HOUSTON – Parkway Properties, an Orlando-based REIT, is selling the 34-story Phoenix Tower, a continuation of its ongoing sell-off of its Houston office portfolio. The 629,000-SF building is expected to fetch $104 million or $164 per SF, according to Real Estate Alert. Eastdil Secured, which is expanding in Texas, is marketing the building, 3500 Southwest Freeway at Buffalo Speedway in ... Read More »

Selling America’s Largest Industrial Park: The Q&A with Joel Michael of NAI Partners

(By Dale King) HOUSTON – Joel Michael of NAI Partners has a HUGE assignment. He’s selling development sites in the fifth largest industrial park in the WORLD – and the largest one in the United States – the TGS Cedar Port Industrial Park adjacent to Baytown, 35 minutes from downtown Houston. In the aftermath of the oil price crash, some ... Read More »

Survey: Houston is a Prime Location for First-Time Homebuyers

(By Dale King) HOUSTON – The housing crisis brought on by last decade’s Great Recession has softened, but hasn’t gone away – and certainly isn’t forgotten. Today’s home ownership rate of 64 percent is still slightly anemic compared to the 69 percent of people who called their personal domiciles their own in 2005. The drop was particularly steep among young, ... Read More »

Boosted By Population Growth, Houston Home Sales Continue to Churn, Despite Energy Crash

HOUSTON – Houston’s home sales, boosted by robust population growth, are keeping pace with last year, despite the downturn in the energy industry. Last year was one of the strongest years on record for Houston home sales, so the 2016 market is showing resiliency and strength by keeping up with 2015. The Realtors said the $150,000 to $250,000 price band ... Read More »

Houston Realtors Expand HAR Web Site to Include Austin Listings

HOUSTON – Houston Association of Realtors’ website is now carrying listings from Austin, part of the Houston realty organization to expand across the state. With the addition of Austin-area properties from ABoR, HAR.com now offers 92 percent of all the real estate listings in the lone star state. HAR.com is ranked among the top real estate websites in Texas. Each ... Read More »

Kirby Grove, New Mixed-Use Project by Midway, Secures Indian Eatery

HOUSTON – Kiran’s Indian Restaurant signed a new retail lease for 6,548 square feet at Kirby Grove, 2925 Richmond Avenue in Houston’s Upper Kirby area. Kirby Grove, a Midway Cos. development, will combine Class-A office space, dining amenities and high-end lofts to create an Inner Loop mixed-use environment. Coupled with the redeveloped Levy Park, Kirby Grove is expected to be a ... Read More »

New 1,350-Acre Master Planned Community Underway West of Houston

HOUSTON – Home sales have started in Jordan Ranch, a new 1,350-acre development one mile south of Interstate 10 on the west side of Houston. Johnson Development Corp., a Houston-based firm, is developing the community, one of several projects it has ongoing in Texas. Newmark Homes has started presales in Jordan Ranch, offering 20 one- and two-story designs priced from ... Read More »

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