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Category Archives: Office

Two Energy Firms Lease Office Space in Houston, Where Falling Oil Prices Pose Questions

HOUSTON — Parkway Properties has announced two Houston office leases to energy-related firms, reducing the potential for empty space in its Houston portfolio. “These two leases help to quickly mitigate some upcoming known move-outs in our Houston portfolio with little to no downtime,” stated James R. Heistand, President and Chief Executive Officer of Parkway. Nabors Industries, which owns more than ... Read More »

159,175-sf Houston Office Building Sold for $26.2 Million

HOUSTON – Sam Houston Crossing I, a 159,175 square-foot office building in northwest Houston has been purchased for $26.2 million. The buyer ia a joint venture between Houston-based Fuller Realty Partners and Independencia. HFF marketed the property on behalf of the sellers, Duke Realty Corporation and Chambers Street Properties. Sam Houston Crossing I is located in Houston’s West Belt Corridor ... Read More »

Houston’s Brinsden: Oil Price Plunge Will Pinch Office Market First

HOUSTON – The Houston office market will be the first real estate sector to feel the pinch of lower oil prices, which have cast a cloud over the Houston real estate market. “The office side is where we are going to feel it first,” said Jonathan Brinsden, CEO of Midway Cos., a Houston based firm that develops office and mixed-use ... Read More »

Rosemont Realty Buys Office Building in Houston’s Energy Corridor

HOUSTON – Rosemont Realty, LLC, a leading commercial real based in Santa Fe, N.M., has acquired Kirkwood Tower in Houston’ Energy Corridor. The acquisition of the 15-story tower adds 285,682 rentable square feet of Class A office space to Rosemont Realty’s portfolio. It brings the company’s total square footage in the greater Houston area to nearly 2.5 million square feet, ... Read More »

Tower in Downtown Houston Draws Record Price

HOUSTON – LaSalle Investment has agreed to pay $450 million for the 1000 Main building in downtown Houston – a price that will be the highest ever paid in Houston, according to the Real Estate Alert newsletter. LaSalle’s price of $537 per square foot will surpass Houston’s existing price record of $524 per square foot, the newsletter said. Other buyers ... Read More »

Griffin/Clarion JV Buys Tower in Downtown San Antonio

SAN ANTONIO – A joint venture of Griffin Partners and Clarion Partners has purchased Bank of America Plaza, a 28-story, 533,465-square-foot office building in downtown San Antonio. The tower, built in 1983, is the largest building in downtown San Antonio and the deal is reportedly the first $100 million transaction in the city. The building, 300 Convent Street, is 91 percent ... Read More »

Falling Oil Prices Prompt Downgrade of Cousins Stock

ATLANTA – A pair of REIT analysts have downgraded the stock of Cousins Properties because of concerns about the impact of falling oil prices on Houston’s office market. Houston is the dominant market in market in the portfolio of Atlanta-based Cousins (stock symbol: CUZ on the New York Stock Exchange.) Citing falling oil prices and exposure to Houston, a security ... Read More »

Transwestern Reports Strong Leasing in Loop Central

HOUSTON – Transwestern Houston has completed more than 79,900 square feet of lease transactions since April at the Loop Central office complex located at 4888, 4848 and 4828 Loop Central Drive in the Galleria/West Loop submarket of Houston. In an 18-month period, a total of 197,000 square feet, or 34 percent of the complex, has been leased. The Galleria submarket ... Read More »

Pillar/Origin Start Acquisition Program in the Telecom Corridor near Dallas

RICHARDSON, Texas – Collins Square, a 213,864-square-foot office building in the Richardson Telecom Corridor has been sold, CBRE reported. Dallas-based real estate investor and operator, Pillar Commercial, teamed with Origin Capital Partners to purchase the bulding from StreamCo for an undisclosed price. The newly formed joint venture is strategically seeking additional investments. The four-story office building is 87 percent leased ... Read More »

More Office Space Planned in LaCenterra as Demand Verified on the Grand Parkway in Far West Houston

HOUSTON – Developers are ramping up plans to build more office space in the LaCenterra at Cinco Ranch following strong preleasing in Phase III of the LaCenterra of Cinco Ranch on the west side of Houston. The project is being developed by a partnership of Vista Cos., which is a Houston company led by Woody Mann, and Denver-based Amstar. Transwestern ... Read More »

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