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Category Archives: Houston

New Owner of West Oaks Mall Buys Former Macy’s Store

HOUSTON – (Realty News Report) – The shuttered Macy’s store at West Oaks Mall has been purchased a unit of Metha Investments, which purchased the remainder of the west Houston regional mall last year. Macy’s has closed a number of stores around the nation as part of an industry-wide trend that have called the “Retail Armageddon” – a shakeout in ... Read More »

Hurricane Harvey Destroyed Your Home? – Pay Property Tax Anyway, Elected Officials Insist; Disaster Provision Ignored

HOUSTON – (By Ralph Bivins, Realty News Report) – Elected officials are responding with deaf ears, blind eyes and cold hearts to the victims of Hurricane Harvey. Owners of properties demolished by Hurricane Harvey will have to pay as much in taxes as the owners of properties in perfect condition, unless government officials take action soon. Houstonians who own structures ... Read More »

Houston Hurricane Update: Tax Breaks and Federal Funding to Continue Recovery Explained as Cruz Visits City Hall

HOUSTON – (By Michelle Leigh Smith, Realty News Report) – Houston and its hurricane victims can look forward to tax breaks and massive federal funding to continue the city’s recovery, elected officials say. An update was presented Friday afternoon at Houston’s City Hall by U.S. Sen. Ted Cruz and Mayor Sylvester Turner. “Sen. Cruz introduced the Hurricane Tax Relief bill ... Read More »

Natural Disasters: The Human Toll Overshadows Real Estate Damages, NAREE Panel Told

ORLANDO – (Realty News Report) – After natural catastrophes such as hurricanes, floods and wildfires, real estate analysts and insurance companies tally up the billions in damage, but their cold numbers don’t take into account the toll on human beings. “During Hurricane Harvey in August, Houston endured 50 inches of rain,” said Ralph Bivins, editor of Realty News Report and a past president of the National Association of ... Read More »

Houston Home Sales Hit Record High in 2017

HOUSTON – (Realty News Report) – 2017 was the best year in the history of Houston realty sales, according to year-end numbers released by the Houston Association of Realtors. The association reported 79,117 single-family homes were sold in the Houston area last year, up 3.5 percent over the 76,450 sales in 2016. By comparison, five years ago in 2012 when ... Read More »

Jackson Walker Leases Space in 5 Houston Center

HOUSTON – (Realty News Report) – The Jackson Walker law firm has leased 77,015 SF at 5 Houston Center, a 27-story story building in downtown Houston. Transwestern Executive Vice President Eric Anderson and Vice President Tyler Garrett represented the landlord, Spear Street Capital. 5 Houston Center, a 580,000-SF tower was developed by Crescent Real Estate and it opened about 17 ... Read More »

Houston Expected to Lead Nation in New Home Sales in 2018

ORLANDO – (Realty News Report) – Houston is expected to have the highest new home sales this year, followed by Dallas in the second spot with Austin and San Antonio also in the Top 7, according to CoreLogic’s 2018 outlook presented at the NAHB International Builders Show in Orlando Tuesday. Frank Nothaft, chief economist at CoreLogic — an Irvine, Ca.-based ... Read More »

Braun Enterprises Buys Houston Office Building

HOUSTON – A partnership led by Houston-based Braun Enterprises acquired  5757 Woodway, a 162,188-SF office property near the Memorial area and the Galleria. Danny Miller and Marty Hogan of HFF represented the seller, Woodway Office Partners, LLC, a joint venture sponsored by locally based Fuller Realty Partners and Harbert Management Corporation. Braun Enterprises is a Houston firm led by Gabriel ... Read More »

Hanover Starts 39-Story Apartment Tower on Kirby Drive

HOUSTON – (Realty News Report) – Construction started on Hanover River Oaks, a 39-story apartment project on a 1.6-acre site on Kirby Drive, according to HFF. HFF worked on behalf of the project’s developer, Houston-based Hanover Co. and institutional investors advised by J.P. Morgan Asset Management to capitalize the equity and construction financing for the development of the project. The 370-unit ... Read More »

Denver Project Sells for $339,527 Per Unit

DENVER – (Realty News Report) – Griffis Residential acquired The Huron, a newly delivered 296-unit apartment community in downtown Denver near Coors Field, according to ARA Newmark. Denver-based Griffis Residential, which has a portfolio of 8,000 units, purchased the property for $100.5 million or $339,527 per unit, ARA Newmark reported. The seller, Columbus, Ohio-based developer Edwards Cos., was represented by ... Read More »

Oregon Investor Buys Houston Multifamily Complex

HOUSTON – (Realty News Report) – Hayden Properties acquired the 216-unit Stoneleigh on Spring Cypress, a garden-style apartment community in the northwest Houston suburb of Spring. HFF marketed the property, 7215 Spring Cypress Road, on behalf of the seller, Seneca Investments. Completed in 2005, the property is 94 percent leased. Hayden, based in Lake Oswego, Ore., controls a portfolio of ... Read More »

Warehouse Boom: 3 Million SF Broke Ground in Fourth Quarter, CBRE Reports: Land at $196,000 Per Acre

HOUSTON – (Realty News Report) – Warehouses totaling more than 3.3 million SF broke ground in Houston in the fourth quarter of 2017, accentuating a trend for higher industrial land prices, according to CBRE. Many of the new industrial buildings are being constructed on a spec basis, CBRE said, although Hines and Arch-Con Construction are building 600,000 SF for Emser ... Read More »

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