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Category Archives: Office

The Comeback in Houston Real Estate Investment: Q&A with Robert Williamson of Midway

HOUSTON – As the price of oil plunged to the lowest level in years, investor interest in Houston plunged right along with it. By early 2016, oil had fallen below $30 a barrel, down from a high of $107 in the summer of 2014. A few vulture funds ventured forth during the free fall, seeking bargains in the world’s energy capital, but when these funds ... Read More »

Lessons Learned: Fountain Place in Downtown Dallas

DALLAS – After more than three decades, an iconic building in Dallas is reinventing itself — and its success could have valuable lessons for commercial property owners and developers throughout Texas. Atlanta-based owner Goddard Investment Group is spending $70 million to renovate the 60-story Fountain Place, a signature part of the city’s skyline with its green glass “rocket” design. Originally known as Allied Bank Tower, the 1.2 million-square-foot ... Read More »

Unwanted Top Ranking: Houston has Largest Sublease Supply in Nation, Reports CBRE Research

HOUSTON – Houston has the largest supply of sublease office space in the nation, according to a new report by CBRE Research. Houston had an 11.1 million SF of sublease space on the market at year-end. Boston ranked second with 4.8 million SF of sublease supply, followed by Manhattan at 3.8 million SF. The oversupply of sublease space, which is ... Read More »

Houston Office Leasing Diversified in 2016, CBRE Research Reports

HOUSTON – Houston’s energy companies accounted for only 18 percent of the office leasing activity in the city last year, a significant decline from historical levels, CBRE reports. But, in a demonstration of Houston’s diversified economy, companies in other industries stepped up and leased a large blocks of office space. Houston’s office occupier demand has diversified, reports CBRE. It’s not all about ... Read More »

Colliers’ Duffy: ‘The Bleeding Has Stopped’ for Houston Office Market

HOUSTON – The Houston office market – the primary casualty of the oil bust – appears to be in a recovery mode following a couple of rough years, according to the President of Colliers International Houston. “We are comfortable that the bleeding has stopped,” said Patrick Duffy, head of the Houston office of the commercial real estate firm. Duffy, speaking ... Read More »

NGKF: Another Year of Rising Vacancy Ahead for Houston Office Market

HOUSTON – The Houston office market, although there are positive signs that healing is on the way, will see an increase in the overall vacancy rate in 2017, according to the Newmark Grubb Knight Frank real estate firm. After ending 2016 with a 19.6 percent office vacancy rate, the Houston market will see a slight increase to 20.1 percent by ... Read More »

Realty News Report’s Legends of Real Estate Awards: Deal of the Year – Parkway, Jim Heistand

THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has selected the most significant people, projects, deals and ideas of the Houston real estate market for 2016. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments. LEGEND: DEAL OF THE ... Read More »

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 »

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