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Category Archives: Office

JLL’s Dan Bellow: Landlords Cut Rents as Houston Becomes a Tenants Market Again

HOUSTON – Long-time Houston broker Dan Bellow, president of Jones Lang LaSalle-Houston, says some Houston office buildings owners have reduced rents and overall rental rates are under pressure as Houston’s office market has become a “tenants’ market.” With energy company cutbacks and oil patch layoffs, oil companies are putting excess Houston office space  – some of it in brand new ... Read More »

CoreNet Panel: Sublease Space Coming to Houston Office Market, Where Spec Projects are Over

HOUSTON – Energy companies are putting sublease space on the market in Houston where an oil price collapse has derailed the expansion plans for a number of firms, according to speakers at a real estate luncheon Tuesday. “There’s a lot of sublease space coming back on the market,” said Patrick Duffy, president of the Colliers International realty firm in Houston. ... Read More »

Hines Partnership Buys Southern Calif. Office

NEWPORT BEACH, Calif. – Hines, the Houston-based real estate firm, along with a subsidiary of a fund managed by Oaktree Capital Management, has acquired 4000 MacArthur, a Class A office project consisting of two, ten-story buildings totaling 375,000 square feet in Newport Beach, California. Situated within the 179-acre Koll Center Newport at the intersection of MacArthur Boulevard and Jamboree Road, ... Read More »

Downtown Tower Sold

HOUSTON – The 1301 Fannin building, a 784,000-square-foot downtown tower with data center space and Class A office space has been sold to Netrality Properties. The seller was Houston-based Griffin Partners and CenterSquare Investment Management, a Pennsylvania-based investment boutique of BNY Mellon. Griffin Partners redeveloped the 24-story tower a few years ago. Lee & Associates will lease the building. Griffin ... Read More »

Hines Buys Office Project in Washington State

BELLEVUE, Wash. – Hines, the Houston-based real estate firm, acquired Civica Office Commons, a 323,562-square-foot Class A office project in Bellevue, Washington. Developed in 2001, Civica consists of a two-building portfolio connected by a common atrium. The buildings are six and eight stories with a total of 323,562 square feet of office space. “The Bellevue submarket continues to be the ... Read More »

Gaedeke Planning Office Tower Near Toyota Project in Dallas

DALLAS – Gaedeke Group LLC has acquired an 11-acre tract where it plans to develop a multi-tenant office project. The site is across the street from Toyota Corp.’s $350 million North American headquarters campus in the Legacy West development. The development site was purchased in an off-market transaction with SWC Tollway & 121 LLC. Glenn S. Lickstein, president of Dallas-based ... Read More »

Drew Lewis/Griffin Brokers Create Lee & Associates Houston

HOUSTON – Veteran Houston broker Drew Lewis, along with Chris Lewis and other brokers from Griffin Partners, has opened Lee & Associates Houston, in an affiliation with Lee & Associates, a national firm. Lee & Associates Houston is comprised of brokers from Griffin Partners, a local boutique real estate player, who has partnered with Lee & Associates to open the ... Read More »

Hartman Buys a Pair of Houston Office Buildings

HOUSTON – Hartman Short Term Income Properties XX, a Houston based Real Estate Investment Trust, announced that Hartman Highway 6 LLC, an affiliate, has purchased the Timbercreek Atrium and Copperfield office buildings in Houston. Timbercreek Atrium & Copperfield are two Class B office buildings totaling 93,656 square feet. The multi-story office buildings are located in the highly desirable Northwest Houston ... Read More »

Colliers: Huge Absorption of Houston Office Space in 2014

HOUSTON – A whopping 6.8 million square feet of office space was filled in Houston last year, despite big gains in rental rates, according to the year-end report by Colliers International. The big driver of the leasing activity was incredible job growth, as Houston added about 125,000 jobs last year – the strongest year for jobs since 1981. Forecasters are ... Read More »

Citizens Invited to Vote for ULI’s “People’s Choice” Award for Favorite Houston Real Estate Projects

HOUSTON – The Houston District Council of the Urban Land Institute (ULI) will recognize some of Houston’s groundbreaking real estate developments at the January 27 Development of Distinction Awards presented by Winstead Attorneys. The public is invited to vote for their single favorite project among the finalists in the “People’s Choice” Award. The ULI awards recognize developments that exemplify best ... Read More »

Unilev Buys Building in Houston’s Westchase

HOUSTON – Unilev Capital Corporation purchased 1500 CityWest, a 192,313-square-foot, Class A ten-story office building located in Houston’s Westchase submarket. The property is located at the intersection of CityWest Boulevard and Briar Forest Drive, near the West Sam Houston Parkway. JLL Capital Markets represented the seller, Metro National with Rudy Hubbard, Vice President Kevin McConn and Associate Rick Goings led ... Read More »

Vista Equities Buys Austin Building

AUSTIN – A partnership headed by Vista Equities Group, a Houston firm led by Woody Mann, has acquired the Park Central office building in Austin. Park Central is a 114,091-square foot multi-tenant building located in Austin’s North submarket near the intersection of Interstate 35 and Parmer Lane. “This acquisition fits well into Vista’s investment philosophy and we are pleased to ... Read More »

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