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Category Archives: Office

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 »

Stream Partnership Buys 600 Jefferson Tower in Downtown Houston

HOUSTON – A partnership of Stream Realty Partners and DRA Advisors has purchased the 20-story 600 Jefferson office tower in downtown Houston. The 450,000-square-foot building, purchased from Brookfield Office Properties for an undisclosed price, will be upgraded with renovations to push the Class B building toward Class A status. United Airlines is the anchor tenant in the building, which is ... Read More »

DATELINE HOUSTON: Oil Prices and Real Estate

HOUSTON – Texas real estate will be unscathed by the significant decline in oil prices this fall, although the topic is getting a lot of buzz in Houston, known as the “Energy Capital of the World.” Oil prices are a sensitive topic here. Houston was the place where the battle cry of the business community once was “$90 in ‘90” ... Read More »

Biggest Deal Ever? Foreign Investors Bid Heavy on a Houston Trophy Tower

HOUSTON – A dozen investment groups, including foreign buyers, submitted bids this week to buy the 1000 Main building in downtown Houston – a transaction that may become the biggest deal ever in the Bayou City. Foreign buyers, including players from Europe, the Far East, the Middle East and Canada submitted offers to purchase the 36-story building, said Bernard Branca, ... Read More »

Cousins Starts $44 Million Office Development in Austin

AUSTIN – Cousins Properties Inc.  plans to commence construction on Research Park V, a $44 million project in northwest  Austin. The 173,000 square-foot office development is the last building in a five-building complex which Cousins has developed. “We have a long, successful history in Austin and are very excited about the opportunity to bring new Class-A product to the rapidly tightening ... Read More »

Austin Group Acquires Office Properties in Fort Worth

FORT WORTH –  Pennybacker Capital of Austin purchased the Summit Office Park, a two-building, 242,482-square-foot office complex in Fort Worth. HFF marketed the property on behalf of the seller, Prescott Group.  Pennybacker Capital purchased the asset and HFF assisted in securing acquisition financing on behalf of the buyer.  The seven-year loan was provided by ViewPoint Bank. Summit Office Park is located ... Read More »

The Biggest Spec Building in America Drawing Tenant Interest

HOUSTON – The biggest spec office tower in the nation, under construction by Hines on Main Street in downtown Houston, is attracting interest from corporations that are interested in leasing space there, as expected. “We are in advanced discussions with several large tenants,” said Hines spokesman Mark Clegg. But at this point no leases have been signed. The foundation of ... Read More »

Another Westchase Office Building Sold in Blazing Hot West Houston Market

HOUSTON –  Columbia Centre, an office building located in Houston’s Westchase submarket, has been sold to Dornin Investment Group. Columbia Centre is a 166,720-square-foot, Class B+ nine-story office building.  It has access to the West Sam Houston Parkway, Westpark Tollway, Westheimer Road, and three major thoroughfares in West Houston. The building has frontage along Richmond Avenue and along Wilcrest Drive. JLL’s Managing Director Rudy Hubbard, ... Read More »

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 »

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