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Category Archives: Office

Marathon Oil Tower Expected to Fetch $300M; And Change Houston’s Investment Narrative

HOUSTON – CBRE Global Investors is selling the 1.2 million-square-foot Marathon Oil Tower in Uptown Houston for at estimated $300 million or $250 per square foot, according to Real Estate Alert. CBRE has been retained to market the 41-story building, 5555 San Felipe, near Yorktown Street. Marathon occupies 62 percent of the building. Baker Hughes Oilfield Operations occupies 42,000 SF, ... Read More »

Hines Project Gets ‘WiredScore’ Certification for Internet Connectivity

MINNEAPOLIS – Hines, the Houston-based real estate firm, announced that its new T3 office project has become the first office building in Minneapolis to receive preliminary WiredScore certification. “Strong Internet connectivity is becoming increasingly critical to the day-to-day operations of any business,” said Arie Barendrecht, CEO and co-founder of WiredScore. “T3’s Wired pre-certification ensures that tenants will have access to ... Read More »

Texas Leasing Magnate: The Q & A with Chip Colvill

Colvill Office Properties is an owner’s representative company specializing in office building leasing in Houston and Dallas. Colvill’s high-profile Houston assignments include Hines’ 48-story spec project under construction on Main Street and Frank Liu’s redevelopment of the downtown Post Office property. Colvill currently oversees a large portfolio of Class A office space in the nation’s fourth largest city and the ... Read More »

Transwestern/RBJ Close Deal in Boston’s Biotech Office Market

BOSTON – Transwestern | RBJ brokered the disposition of 1 Patriots Park, a 144,230-square-foot office building on Wiggins Ave. in Bedford, Massachusetts. Longfellow Real Estate Partners acquired the property for $11.3 million, or $78 per square foot, and plans to redevelop it into a Class A laboratory building. Chris Skeffington, John Wilson, Jon Varholak and Roy Sandeman of Transwestern | ... Read More »

Making Mixed-Use Work in Downtown Houston: The Q&A with Jane Page of Lionstone Investments

With more than 570,000 square feet of office and retail space, GreenStreet is one of the most interesting developments in downtown Houston.  Two weeks ago, Lionstone Investments, a privately-owned, Houston-based real estate investment firm, purchased an interest in the GreenStreet development, which was known as Houston Pavilions when it opened about seven years ago. GreenStreet, which has entertainment venues, restaurants ... Read More »

Thor Equities Starting $125 Million Mixed-Use Project on Houston’s Kirby Drive

HOUSTON – Thor Equities will start construction next month on the Kirby Collection, a 1 million-square-foot mixed-use project on Kirby Drive in Houston’s Inner Loop. The $125 million project will deliver a 25-story residential tower with 200 apartments, 210,000 square feet of office and 65,000 square feet of retail space with completion expected in late 2017. The site is on ... Read More »

Construction Cranes: Houston’s Endangered Species? The Q&A with Michael Scheurich of Arch-Con Corp.

With its continued dependency on the energy sector, Houston has been greatly affected by the downturn in the oil and gas industry. No where is this more evident than in the cranes that dot the Houston landscape. To gauge the health of the construction sector, Realty News Report talked with Michael G. Scheurich, President & CEO of Houston-based Arch-Con Corporation, a Texas-based general contractor ... Read More »

Oil and The State of the Houston Office Market: The Q&A with Kevin Roberts of Transwestern

Beginning with Allen Brothers who founded the city,  Houstonians have been an optimistic bunch.  In recent years, since the end of the Great Recession, energy and real estate entrepreneurs exuded boundless optimism about Houston – and with good reason. With the price of a barrel of West Texas Intermediate crude rising to triple digits, the sky seemed to be the ... Read More »

Redeveloped Midtown Office Building Hits the Market

 HOUSTON – Transwestern has been retained by Claremont Property Co. to lease Central Square Plaza, a Midtown office building undergoing a major redevelopment. The property, 2100 Travis St., occupies the entire city block bordered by Travis, Milam, Gray and Webster streets in the Midtown submarket, just south of downtown Houston. “The Midtown submarket is currently experiencing robust development activity, including ... Read More »

New Gemini-Rosemont Realty Venture to Acquire $3 Billion in Office Over Next Three Years

SANTA FE, N.M. – Santa Fe, NM-based Rosemont Realty and Hong Kong-based Gemini Investments have formed a joint venture to acquire $3 billion office properties in top U.S. markets over the next three years. The joint venture created a Gemini-Rosemont Realty to launch “an aggressive three-year, $3 billion acquisition program” with a strategy focused on Class A office in gateway ... Read More »

GEICO Makes Move to Richardson, a Magnet for Insurance Companies

RICHARDSON, Texas – GEICO is relocating its regional office, where 1,600 people work, to Richardson in the Telecom Corridor just north of Dallas. GEICO leased 233,000 square feet in a building that was formerly the headquarters of Fossil, Inc. Richardson has an array of large regional offices of insurance companies, including Blue Cross Blue Shield, State Farm and Travelers. The ... Read More »

Dallas Group Buys Houston Building

HOUSTON – Regis Property Management, a Dallas-based firm has acquired a 100,000-square-foot office building in Houston’s Uptown/Galleria area. Built in 1981, the six-story building, 770 S Post Oak Lane, is located seven miles from downtown Houston. Regis Property Management is an affiliate of Gene Phillips’ Pillar Income Asset Management and currently manages 34 commercial properties comprising in excess of 6 ... Read More »

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