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Category Archives: Houston

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 »

Portico and Crossbeam Launch Multifamily Joint Venture

HOUSTON – Portico Property Management, a property management firm headquartered in Houston, and Crossbeam Capital, a multifamily real estate investment firm with offices in Houston, Denver and Dallas, have launched a joint venture that will include more than 6,200 multifamily units across six states. Additionally, the companies will merge back-end operations and support services that will create ease of use ... Read More »

ULI Marketplace: Reknitting the Urban Fabric and Making Houston a 24-Hour City

HOUSTON – (By Cynthia Lescalleet) – A thriving urban core needs development mindful of the traditional, diverse neighborhoods in and near it, said Mark Falcone, founder and CEO of Continuum Partners, based in Denver. As keynote speaker at Urban Land Institute’s Urban Marketplace 2017, held April 13 at the Marriott Marquis Houston, Falcone covered the dynamics and challenges affecting cities as ... Read More »

Record Home Sales: Best March Ever in Houston Real Estate History

HOUSTON – March was the strongest March ever for home sales in Houston’s real estate history, according to the Houston Association of Realtors. The 7,013 single-family home sales recorded in March were up 11.7 percent from the 6,278 homes sold in March 2017, the Realtors Association said. “February and March were two incredibly busy months,” said Houston residential broker Amy ... Read More »

Skanska Announces Construction has Started on Downtown Skyscraper with Bank of America as Anchor

HOUSTON- Skanska announced Wednesday that it has started construction on Capitol Tower, a 35-story office development in downtown Houston, after reaching a lease agreement with Bank of America. Bank of America leased 210,000 SF and it expects to move into the new building in first half of 2019. JLL represented Bank of America. Warren Savery, Kristen Rabel and Rima Soroka ... Read More »

Houston Office Market Slides as Vacancy Hits Highest Mark in 22 Years as Negative Absorption Prevails

HOUSTON – The vacancy rose sharply in the first quarter while the Houston office market recorded 789,000 SF of negative net absorption, according to the NAI Partners real estate firm. In layman’s terms, this means more office space became vacant since the beginning of the year. This stumble occurred even though a lot of folks believed the worst was over. ... Read More »

Want a Screwhorn Antelope? A Camel? 15 Lakes? Houston-Area Zoo Can Be Yours for Only $7 Million

  ALVIN, Texas – (By Dale King)  – Singer/songwriter Paul Simon once vocalized: “Someone told me it’s all happening at the zoo.” Actually, something unique is happening at the Bayou Wildlife Zoo in Alvin, Texas, a town in Galveston County about 20 miles south of Houston. The 80-acre parkland that houses 500 exotic birds and animals and draws more than 90,000 ... Read More »

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