Monday , 22 September 2014
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Category Archives: Office

Westchase Building Sells for $53 Million; New Owner May Build Another Tower On Site

HOUSTON – Clarion Partners, a leading real estate investment manager headquartered in New York, purchased the Westchase Corporate Center, a 184,259 square foot, Class A office building in west Houston for approximately $53 million. With the building acquisition, Clarion is also gaining the opportunity to build another office building on land now used as a parking lot for Westchase Corporate ... Read More »

Mega-Deal: Downtown Building Sale May Bring Record Price

HOUSTON – After a year of singles, grounders and bunts, investors may be ready to hit a grand slam home run in the Houston office market. In fact, it could be the biggest deal in Houston’s real estate history. The 36-story office building at 1000 Main Street in downtown Houston is being marketed for sale and it is expected to ... Read More »

Austin’s First Downtown Tower Since 2003 to Open Almost Fully Leased

AUSTIN - The 29-story Colorado Tower, the first downtown office tower built in Austin since 2003, will be completed at the end of the year almost fully leased. Cousins Properties I has signed five new leases totaling 157,279 square feet at Colorado Tower in downtown Austin. Leasing at the 373,000 square-foot, Class-A office development is now 95 percent, up from 51 ... Read More »

Another Energy Corridor Office Building Started by Skanska

HOUSTON – Skanska USA Development has started construction on a $100 million office building in the Energy Corridor district in west Houston. West Memorial Place II will be a 14-story office building with approximately 380,000 square feet of rentable space. It is targeted for LEED Platinum certification. The new office building will be adjacent to West Memorial Place I, Skanska’s ... Read More »

Colliers: Austin’s Office Construction Up; Vacancy Down

AUSTIN – Austin has more than 2.4 million square feet of office space under construction and seven new buildings were completed in the second quarter, according to the Colliers International real estate firm. Over 188,000 SF of new office inventory delivered during the second quarter, bringing 2014 year-to-date delivered inventory to 587,657 SF, Colliers reported in its second quarter research ... Read More »

Barton Springs Office Building Sold in Austin

AUSTIN – Transwestern  brokered the disposition of 811 Barton Springs on behalf of the Seller to a fund managed by Cornerstone Real Estate Advisers. 811 Barton Springs is a 143,183 square foot Class A multitenant office building located in between Austin’s Central Business District and Southwest submarkets, two of the most desirable submarkets in Austin. The 9-story property was 99% leased at the ... Read More »

Hines Pouring Foundation This Weekend for 48-story Office Tower

HOUSTON – Downtown Houston will be lined with a parade of concrete trucks this weekend as Hines, the Houston-based real estate firm, undertakes a massive concrete mat pour for the foundation of a 1 million square-foot office tower. The process will run more than 17-hours to set the foundation for Houston’s next  skyscraper – 609 Main at Texas Avenue. The ... Read More »

OmniNet Capital Buys Former Westwood Mall; Seeks Other Texas Properties

HOUSTON– Southwest Corporate Center, a 525,580-square-foot office complex that was once the Westwood regional mall, has been sold to Omninet Capital, a Los Angeles-based investment group that is seeking Texas investments. HFF marketed the property on behalf of seller, TX 9700 Bissonnet LLC.  Omninet Capital purchased the property for an undisclosed amount on an all cash basis and closed in ... Read More »

Pier I Headquarters Building in Ft. Worth Purchased by Hines

FORT WORTH – Hines, the Houston-based real estate firm, has acquired the landmark Chesapeake Plaza, a 409,977-square-foot, 20-story, office building located on more than 14 acres of land along the Trinity River in Fort Worth’s central business district. Pier I Imports, the décor and furniture retailer, has its headquarters in the building, occupying 313,000 square feet. Hines said the building ... Read More »

New $76 Million, 110,000-SF Greater Houston Partnership Building is Underway

HOUSTON – The Greater Houston Partnership has announced plans for a new $76 million 110,000-square-foot headquarters office building and parking garage adjacent to the city’s convention center. The Partnership will occupy the top two floors of the downtown facility, which will be built on a parcel bounded by Rusk, Capitol, Avenida De Las Americas and U.S. 59. The project’s 1,900-space ... Read More »

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