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Category Archives: Office

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 »

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 »

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