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Category Archives: New Development

35-Story Apartment Tower Planned Next to Texas Medical Center

HOUSTON – A joint venture of Greystar and Medistar Corp. have announced plans to develop Ascent Med Center, a 35-story apartment project on the western edge of the Texas Medical Center in Houston. Groundbreaking for the 375-unit project will be in the first quarter of 2016 with Hoar Construction as the general contractor. The project, located at the corner of ... Read More »

Transwestern Leases 400,000 SF Near Port of Houston

HOUSTON – California-based Plastic Express has preleased 394,489 SF in Phase II at Port 225 in Pasadena, Texas, near the Port of Houston from Clarion Partners. The 750,000-SF Phase II of Port 225, set for completion in the second quarter, is 65 percent leased. Transwestern’s Brian Gammill and Darryl Noon represented the building owner, Clarion Partners. Jeff Huberman, Mike Spears ... Read More »

Surge Homes Starts Three Residential Projects in Houston’s Inner Loop

HOUSTON – Surge Homes has started three urban residential developments in the Inner Loop of Houston, offering single-family homes, townhomes and condominiums. The three new projects are: Upper Richton in Upper Kirby, Museum Blvd. in the Museum District, and Parc at Midtown in Midtown. They are currently undergoing site development work, including the demolition of old structures; site clean-up; and the construction of ... Read More »

Vinson & Elkins to Anchor New Dallas Project

DALLAS – The Houston-based Vinson & Elkins law firm has leased 80,000 square feet The Union Dallas, a $200 million mixed-used project under development by RED Development. The 800,000 square foot Union project will have a 22-story, 417,000-SF office tower; a residential tower with 309 apartments and retail space with a 60,000 sf Tom Thumb grocery. The project is located ... Read More »

ULI Panel: Building to Meet the Millennials

HOUSTON – Real estate is bending and evolving to be attractive and relevant to the massive millennial generation, according to experts at an Urban Land Institute panel discussion. But while seeking to meet the millennial market, developers need to exercise caution when building new projects today. Being too experimental with millennial-focused trends can make a building unappealing to future tenants, ... Read More »

Niche Office Building Breaks Ground in West Houston

HOUSTON — Arch‐Con Construction has started construction on a two-story office building near the Grand Parkway, west of Houston’s Energy Corridor in the Katy area. Mission Companies is the developer of the office project, called Grand Corners II. This 23,531 square‐foot tilt‐wall office building, 22316 Grand Corner Drive, will be a sister building to The Mission Companies’ existing Entrust Building, ... Read More »

Finally, Eastside is Hot Retail Center Market: Q&A with Marshall Clinkscales

Like the late comedian Rodney Dangerfield, the retail sector in southeast Houston gets no respect.  But that is definitely changing as local and national merchants as well as restaurateurs have suddenly ‘discovered’ the Pasadena, La Porte and Deer Park areas. Houston’s eastside retail market is experiencing tremendous growth thanks to the expansion of chemical companies who are enjoying today’s super ... Read More »

Larry Johnson Firm Buys 600 Acres in Richmond, Texas for Master Planned Community

RICHMOND, Texas – Johnson Development Corp. has acquired a 590-acre tract in Richmond, southwest of Houston, for a master planned community with 2,500 homes. The site is north of U.S. Highway 59 near the Sweetgrass active-adult community being developed by Del Webb. Johnson said development activity is expected to begin by mid-2016 with construction of new homes projected for early-2017. ... Read More »

Apache Signs 524,000 SF Lease in Post Oak Central; Timetable for New Office Project Pushed Back

HOUSTON – Apache Corp. signed a one-year 524,000 square foot lease extension with Apache Corporation at the Post Oak Central in the Uptown Houston area. The lease extension indicates that Apache is not fast-tracking its plan to construct a new office tower on Post Oak Blvd. In 2012, Apache bought 6 acres on Post Oak, just south of San Felipe ... Read More »

Johnson Development Breaks Ground on 1,350-Acre Jordan Ranch West of Houston

  FULSHEAR, Texas – The Johnson Development Corp. has broken ground on its latest community, Jordan Ranch, on Houston’s west side. The 1,350-acre Fort Bend community is located one mile south of Interstate 10 near the Grand Parkway, giving residents easy access to the Energy Corridor and Katy. Approximately 2,800 homes are planned for Jordan Ranch, and nearly 500 homesites ... Read More »

CBRE: ‘Landlords are Nervous’ About Upcoming Challenges in Houston Office Market

HOUSTON – The third-quarter statistics for the Houston office market showed some improvement, but the market is waiting for the other shoe to drop. Third quarter numbers from CBRE showed Houston’s average office rental rate of $27.74 was up 6 percent from a year ago. Other positives: 1.5 million SF was absorbed in quarter, raising the year-to-date absorption to 3.6 ... Read More »

Hines Project Gets ‘WiredScore’ Certification for Internet Connectivity

MINNEAPOLIS – Hines, the Houston-based real estate firm, announced that its new T3 office project has become the first office building in Minneapolis to receive preliminary WiredScore certification. “Strong Internet connectivity is becoming increasingly critical to the day-to-day operations of any business,” said Arie Barendrecht, CEO and co-founder of WiredScore. “T3’s Wired pre-certification ensures that tenants will have access to ... Read More »

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