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Category Archives: Office

Former Compaq Office Buildings Sold

HOUSTON – A large group of buildings that were once part of the Compaq Computer headquarters campus in northwest Houston have been sold. In the 1990s, Compaq was the world’s largest supplier of personal computers, before it was surpassed by Dell in 2001. Compaq was sold to Hewlett Packard in 2002 for $25 billion and its excess office space was ... Read More »

Hines Developing Tower in Downtown Dallas

DALLAS - Hines, the Houston-based real estate firm, announced plans for a new 23-story office tower in Victory Park in downtown Dallas near the Stemmons Freeway. The 470,000-square-foot building will have prominent visibility along Interstate-35 and include 15 levels of office space with panoramic views of Uptown, Downtown, American Airlines Center, Design District, Trinity River, and the Margaret Hunt Hill Bridge. ... Read More »

Piedmont REIT Breaks Ground on Energy Corridor Office Project

HOUSTON – Piedmont Office Realty Trust will break ground this week on Enclave Place, a 300,000-sf, 11-story office building in the Energy Corridor of west Houston. The office market in the Energy Corridor is exceptionally strong. Class A office space has been hovering around 99 percent occupancy for some time. The Piedmont building will be constructed on a 4.7-acre development ... Read More »

Parallel & Zell Group Buy San Diego Project for $73 Million

SAN DIEGO  – Expanding its San Diego footprint and adding nearly 300,000 square feet to its portfolio, Parallel Capital Partners has acquired a three-building Class A office complex in Sorrento Mesa – San Diego’s premier technology hub – for $72.5 million. Parallel purchased the project, known as Wateridge Plaza, in a joint venture with Equity Group Investments, a Chicago-based private ... Read More »

Tallest Tilt-Wall in Texas Tops Out

THE WOODLANDS – The Tallest Tilt-Wall in Texas has topped out. Stream Realty Partners has hoisted the final panel in place for what the company says is the first six-story tilt wall office building in Texas. The 154,000-sf structure is a Class A office building with high-end finishes, abundant exterior glass and a large exterior courtyard/garden with a fountain, says ... Read More »

Energy Corridor Office Building Sold

HOUSTON – HFF handled the sale of Gulf Plaza, a six-story, 120,651-sf, single-tenant office building in Houston’s Energy Corridor, which is one of the strongest submarkets in the nation. Class A space in the Energy Corridor is 99 percent occupied and a number of office projects are under construction there. HFF marketed the property on behalf of the seller, Hartman ... Read More »

Houston Leads Nation with a 70 Percent Increase in Office Rental Rates in Recent Years, JLL Reports

HOUSTON – Houston has led the nation in skyscraper rental increases, with its trophy office properties rents rising 70 percent since 2005, according to a new report by JLL. San Francisco was second with a 69 percent trophy-office rental increase, followed by Austin at 54 percent, Denver at 52 percent and Salt Lake City at 50 percent. “Bottom line: It’s ... Read More »

Hines Announces Construction Start for 48-Story Tower in Houston; One of the Largest Spec Projects in the World

HOUSTON – Hines, the Houston-based international real estate firm, has announced the start of construction of a downtown Houston skyscraper, one of the largest “spec” office projects  in the world. The Hines project, 609 Main at Texas, will be a 48-story, 1,050,000-square-foot office tower at the corner of Main and Texas streets in Downtown Houston. Hines had been planning a ... Read More »

Crescent Announces 6 Houston Center

  HOUSTON – Crescent Real Estate Holdings LLC has announced plans to develop 6 Houston Center on the east side of downtown Houston. Fort Worth-based Crescent said no general contractor has been selected, but it anticipates breaking ground by “mid-summer 2014.” The proposed 30-story, 600,000-square-foot project was designed by HKS Architects. If the project proceeds as planned, 6 Houston Center ... Read More »

Moody Rambin Handling New Office Project Slated for Westcreek

HOUSTON – Dallas-based Peloton Commercial Real Estate has announced plans to develop the 21-story, 368,000-square-foot Westcreek Centre, the first office building to be built on the east side of West Loop 610 in the Galleria/Post Oak market in 34 years. Located between San Felipe and Westheimer in Houston’s Uptown/Galleria area, Westcreek Centre will be under construction by the fourth quarter ... Read More »

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