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Category Archives: Realty News Report

Houston Leads Nation with 112,000 New Jobs (Marcus & Millichap Forecast Nailed the Number Dead-On)

(Commentary by Ralph Bivins) – Houston leads the nation in job growth with 112,200 new jobs created for the 12 months ending in July – almost exactly what one research group forecasted. That represented a 4 percent gain for Houston’s job market to top the nation’s major metropolitan areas, followed by Dallas/Fort Worth at 3.9 percent and Miami at 3.3 ... Read More »

City of Houston Rejecting John Beeson’s High Bid of $40 Million for Tract Near Downtown Houston

(COMMENTARY By Ralph Bivins) The City of Houston is considering skipping over the highest bidder in selling off a prime development tract, just west of downtown. The 10.5-acre city-owned tract, which is vacant, is located on West Dallas at Gillette.  The West Dallas area has been ground zero for a boom in multifamily development in recent years. Alliance Residential, a ... Read More »

EastGroup Properties REIT Buys Austin Industrial

AUSTIN – EastGroup Properties acquired the Centerpoint @ Colorado Crossing, a 265,099-square-foot, four-building industrial complex in east Austin. The transaction was announced by CBRE. The Class A development was constructed in 2009 and is 100 percent leased. The four buildings are made up of an average of 24 prcent office and 76 percent light industrial. Centerpoint @ Colorado Crossing is located on ... Read More »

Bivins: The Texas Condo Boom Gives Me the Heebie-Jeebies

Commentary By Ralph Bivins, Editor I just got a little worried about the Texas real estate market today. Why? The answer can by summed up in one word: “Condos.” The Texas Association of Realtors released a stud Tuesday saying condos “were the fastest growing segment of the Texas housing market during the first half of 2014.” The study is well ... Read More »

Metrostudy: Houston New Home Sales Up 15 Percent; Construction Starts Up 9 Percent

HOUSTON – Houston new home construction continues to roll ahead briskly as starts increased 9 percent in the first quarter over the comparable period of last year, according to Metrostudy. A short supply of lots is holding builders back and labor shortages elongate delivery times. Many tradesmen left the industry during the recession and Houston builders have a hard time ... Read More »

The Boom is Not Over for Houston, So Why are Local Economists So Negative?

Commentary by Ralph Bivins, Editor, RealtyNewsReport: Houston is No. 1 in the nation in job growth.  So why are Houston’s local economists forecasting a puny 2014? Houston added 82,000 jobs in 2013, a 3 percent gain over the previous year, according to the U.S. Bureau of Labor Statistics. The number will be revised, probably downward, but Houston will remain an economic star. ... Read More »

AEW Capital Buying Majority Stake in Heritage Plaza in Downtown Houston in $400 Million Deal at About $413 per SF

HOUSTON – AEW Capital has agreed to acquire a controlling interest in the 53-story Heritage Plaza, according to the authoritative Real Estate Alert newsletter. The 1.15 million-sf building, known as one of Houston’s most distinctive towers because its top resembles a Mayan temple, is valued at approximately $475 million.  AEW, a Boston-based investment manager, is believed to be acquiring at ... Read More »

Ralph Bivins’ Realty News Report Top 7 Predictions for 2014

HOUSTON – The Boom is not over. Houston’s real estate market is respected as one of the hottest markets in the world. With a few exceptions, both residential and commercial real estate will continue to sizzle in 2014 and produce as much pop as we saw in 2013. Here are the top seven predictions for Houston real estate in 2014 ... Read More »

REIT Buys the Most Flamboyant Shopping Center in Texas

By Ralph Bivins HOUSTON – The Portofino shopping center, one of the most ambitiously designed shopping centers in Texas, has been acquired by the Kite Realty Group Trust. Borrowing from the architecture of Venice, Jefco Development Corp., a Houston retail center group led by Jim Fisher, developed Portofino in 2000. The center features Roman fountains, canals, courtyards and waterfalls. Its buildings ... Read More »

New Home Sales Up in Houston as Labor Shortage Develops and Inventory of Specs Virtually Disappears

By Ralph Bivins Houston home builders  are reporting a 13 percent increase in in 2013, but a tight labor market is making many buyers wait six months or longer for their new home to be completed, according to the latest report from the Metrostudy housing information firm. “Everybody is quoting six months (of waiting) for a production home,” said David ... Read More »

Skanska Tower Near Galleria in Houston Sells for $112 Million

HOUSTON – Skanska USA has sold its new spec office building, a 20-story building located near Houston’s Galleria to an investment group affiliated with the building’s new lead tenant, the Alliantgroup for $112 million. The 20-story building, 3009 Post Oak Boulevard, is located on a parcel between Loop 610 and the Gerald D. Hines Water Wall Park. Alliantgroup, a providers of specialty ... Read More »

Hines Planning Major-Scale Skyscraper in Downtown Houston

By Ralph Bivins Editor, RealtyNewsReport Hines is expanding the size of its skyscraper proposal for a major-scale office building on downtown Houston’s Main Street and it is considering constructing the tower on a spec basis. The new project, destined to be one of Houston’s most notable buildings, will be what some in the real estate industry have been calling “Class ... Read More »

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