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Category Archives: Office

Southeast Houston Medical Building Sold

HOUSTON – Colliers International reported the sale of a 12,300 square foot medical office building located at 150 FM 1959 in southeast Houston. Beth Young and Marshall Clinkscales of Colliers International represented the seller in the transaction, WHGS Holdings Co. LLC dba Coastal Surgical Group. The purchaser was represented by Cameron Crouch of Gulf Coast Properties. The property was built ... Read More »

Colliers: Big Jump in Vacancy and Negative Absorption in Houston Office Market

HOUSTON – Houston’s office market posted 400,000 SF of negative net absorption during the third quarter of 2016 and the vacancy rate increased significantly, Colliers International reports. Houston’s city-wide office vacancy rate rose to 17.1 percent in the third quarter, up from 14.5 percent in the third quarter of 2015, Colliers reports. “Houston’s office market continues to struggle due to ... Read More »

Upper Kirby District Leases Space in Plaza at Audley

HOUSTON – The Upper Kirby District organization is moving into a recently redeveloped building on the Southwest Freeway, near Levy Park in the Inner Loop of Houston. The 93,000-SF building, 3120 Southwest Freeway was acquired by Stream Realty Partners in a partnership with American National Insurance Company in 2012. Since then, the partnership has completed a multi-million-dollar renovation program. “When ... Read More »

Shell’s Departure and the Future of Downtown Houston’s Office Market: Q&A with Paula Bruns

Houston’s office market has seen better times.  Affected by the downturn in the energy market, more office space is chasing fewer tenants.  Several weeks ago, one of the global energy giants, Shell Oil, announced plans to leave downtown for its suburban facilities — Shell’s Woodcreek Campus and the Shell Technology Center. Shell had been an anchor in downtown Houston for ... Read More »

Midway’s New Five CityCentre Office Tower Gains Tenants

HOUSTON – Colvill Office Properties has secured two new tenants for CityCentre Five, a new office building developed in west Houston by Midway. The two signed deals brings the Class A tower to 77 percent occupied. The 15-story, 227,000-SF office building is the fifth office building in Midway’s CityCentre mixed-use complex, which has retail, multifamily, restaurants and hotel space. Midway’s ... Read More »

Cousins Selling 50-Story One Ninety One Peachtree Tower

ATLANTA – Cousins Properties is selling One Ninety One Peachtree, a major Atlanta skyscraper developed by Hines in the early 1990s. Banyan Street Capital, in partnership with Oaktree Capital Management, is expected to purchase the 50-story, 1.2 million-SF tower in downtown Atlanta, according to the Atlanta Business Chronicle. Meanwhile, Atlanta-based Cousins is preparing to sell its major office holdings in ... Read More »

America’s Empty Space Leader: Energy Corridor No. 1 Submarket in Nation for Sublease

HOUSTON – The Energy Corridor of West Houston leads the nation in the supply of sublease office space, according to a JLL report comparing the supply of excess space in American submarkets. JLL reports over 3 million SF of excess office space is available for sublease in the Energy Corridor, where oil and gas companies have laid off thousands of ... Read More »

Halliburton Selling Off 48-Acre Campus in Houston’s Westchase District

HOUSTON – Halliburton Co., one of the largest oilfield service companies in the world, is selling its 48-acre Oak Park campus in the Westchase District. Halliburton has laid off thousands of employees as oil drilling activity has dried up over the last two years because of low oil prices. Rudy Hubbard and Kevin McConn of JLL are marketing the property ... Read More »

Saudi Basic Industries Moving Headquarters to Westchase Office Building

HOUSTON — Saudi Basic Industries Corp. has leased additional space in the Westchase District of Houston as part of its relocation of its Americas headquarters from Massachusetts to Houston. Colvill Office Properties and Cushman & Wakefield have closed on a 52,822 SF lease to Saudi Basic Industries, a petrochemical manufacturer, at 2500 CityWest, a 578,284-SF office building located in Houston’s ... Read More »

John Goff Buys Dallas Office Building

DALLAS –  Goff Capital Partners, a Texas firm led by John Goff, has purchased International Plaza III, a 354,182-SF, Class A building in Dallas, the JLL real estate firm reports. Goff is also chairman and CEO of Crescent Real Estate Holdings of Fort Worth. Managing Directors Jack Crews and Evan Stone, and Vice president Lauren Zimmer led the JLL team ... Read More »

Hines Sells Downtown Dallas Tower to Clarion

DALLAS – Clarion Partners acquired the One Victory Park, a 17-story, 436,253-SF office building located in the Victory Park district of downtown Dallas. HFF represented the seller – Hines and its partner, UST XVI, a German investment fund managed by Estein & Associates. The building, completed in October 2008, is 95 percent leased with Ernst & Young and Haynes and ... Read More »

Third Palm Capital Opens Major Energy Corridor Campus

HOUSTON – As the first phase of a major development, Third Palm Capital has engaged Boxer Property to repurpose and lease the existing office buildings on the former Exxon Mobil Chemical headquarters campus in Houston’s Energy Corridor. Christened Republic Square, the 35-acre project is located on Interstate 10, west of Eldridge Road adjacent to Terry Hershey Park. After purchasing the ... Read More »

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