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Category Archives: Houston

Hurricane Response: “Companies in Need” Can Find Short-Term Office Space Through HAR Website

HOUSTON – The Houston Association of Realtors and its Commercial Gateway division have joined forces with Xceligent to create an online “temporary space finder” for companies displaced by Hurricane Harvey. The short-term lease listings can be found on www.CommGate.com. HAR said the effort is focused on “identifying existing spaces where a landlord is willing to execute a short-term lease for ... Read More »

August Home Sales Off 25 Percent as Hurricane Harvey Hits Houston Housing Market

HOUSTON – (By Realty News Report) – Houston home sales declined 25 percent in August as Hurricane Harvey knocked out hundreds of deals at the end of the month. The Houston Association of Realtors reported 5,917 single-family homes were sold in August, down from 7,927 homes sold in August 2016. “Home sales were humming throughout the first three weeks of ... Read More »

How Hurricane Harvey Immediately Transformed Houston’s Apartment Market: Q&A with Teresa Guidotti Lowery of Colliers International

HOUSTON – Hurricane Harvey has upended Houston’s multifamily market. Just as the sector was recovering from years of overbuilding, the city incurred Harvey’s’ wrath. Harvey, which first made landfall in Texas as a Category 4 hurricane on Aug. 26 and then stalled over the Texas coast, broke all records to become the wettest tropical cyclone in the contiguous United States. Real estate research firm CoStar estimates that 
some 72,000 ... Read More »

Tilman Fertitta to Buy to Houston Rockets NBA Team

HOUSTON – Houston billionaire Tilman Fertitta, owner of the Landry’s restaurant chain and the Golden Nugget hotels and casinos, has agreed to but the Houston Rockets professional basketball team for $2.2 billion, the Houston Chronicle reports. Rockets owner Leslie Alexander announced several months ago that the NBA team was for sale. Fertitta, 60, is chairman of the Board of Regents ... Read More »

Back in Business: 77,500 Self Storage Units Reopened in Houston by Public Storage After Hurricane Harvey

HOUSTON – Public Storage announced Monday that all 115 of its self-storage properties previously closed due to severe weather conditions related to Hurricane Harvey have been reopened. The reopened properties cover 8.4 million SF and more than 77,500 storage units in the Houston and nearby  communities. In addition, Public Storage has opened its 116th facility in Houston, located at Highway ... Read More »

Eldridge Place Among the Energy Corridor Buildings Damaged by Harvey Flood Waters

HOUSTON – Office buildings in Energy Corridor district of west Houston have been facing high water in the aftermath Hurricane Harvey. Many streets in the Energy Corridor are flooded and evaluation of property damages  are not complete. Eldridge Place, a three-building, 825,000-SF office complex at the southwest corner of Memorial Drive and N. Eldridge Parkway in the Energy Corridor, has ... Read More »

Aramco Building on West Loop to Be Leased by Lee & Associates

HOUSTON – Lee & Associates – Houston, a nationwide leader in commercial real estate services,  has been selected by Aramco Services Company,the U.S- based subsidiary of Saudi Aramco, to be the exclusive leasing agent of 9009 West Loop South, a 419,260-SF near the Bellaire community. Lee & Associates – Houston’s Lee Jeane, director, and Chris Lewis, managing principal, will lead ... Read More »

Houston’s Bullet Train Station Should Be in Downtown, Not Northwest Mall – Commentary

HOUSTON – (Commentary by Ralph Bivins) Houston is about to make a huge mistake with the development of its high-speed train to north Texas. The proposed Texas Central 200 mph rail line that will run from Houston to Dallas has a lot of good things about it. The train will be good for transit, good for the economy and it ... Read More »

The Silver Lining to Softness in the Energy Corridor Office Market

HOUSTON – The Energy Corridor office market in west Houston has struggled in recent years, following a decline in energy prices and industry layoffs. Vacancy is high and the supply of sublease space has soared. The softness in the office market has a silver lining for tenant companies. It’s a chance to lock-in affordable rent. Other companies are electing to ... Read More »

Major Lease at One Shell Plaza Opens the Door for Upgrade at GreenStreet

HOUSTON – NRG, an electric power company, is moving its Houston offices into 431,000 SF in the 910 Louisiana tower, a 50-story downtown tower that has been known for years as One Shell Plaza. NRG will be vacating its existing offices in GreenStreet mixed-use complex in downtown where NRG occupies about 250,000 SF of office space. The owners of GreenStreet ... Read More »

Porter Hedges Law Firm Elects to Stay in Downtown Houston

HOUSTON – Porter Hedges LLP, a Houston-based law firm, has renewed its 105,000-SF lease in the 1000 Main building in downtown Houston. CBRE’s Charles Gordon, Brandon Clarke, Paul Penland and Ryan Roth represented Porter Hedges in lease negotiations with the landlord, 1000 Main LLC, which was represented by Wade Bowlin with PM Realty Group. “It was imperative for us to ... Read More »

22-Acre Portion of Greenspoint Mall with Old Macy’s Store Acquired for Development of Truck Stop

HOUSTON – A 22-acre portion of Greenspoint Mall, including the old Macy’s store, has been acquired for the development of a truck stop, reports Houston real estate broker Jim Mattox of Jim Mattox Properties. The 1.4 million SF Greenspoint Mall in north Houston suffered through the closure of a number of a number of stores, including Macy’s, which shut down ... Read More »

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