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Category Archives: Texas

Houston Added 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, the overall unemployment rate is low. The unemployment rate stood at 4.3 percent in June, an improvement from 5.3 percent a year earlier. Houston gained over 100,000 ... Read More »

The Texas Real Estate Market Has Not Withered Away

A word on the Lone Star State: The Texas real estate market has not withered away following the remarkable decline in oil prices over the last year. A significant number of new developments are underway in Texas: a $1 billion 750,000 square-foot Facebook data center is under construction in Fort Worth; a 4 million square-foot Daikin HVAC manufacturing plant being ... Read More »

Whitestone REIT Buys Austin Retail Centers for $45M

AUSTIN — Whitestone REIT of Houston has acquired Parkside Village North and Parkside Village South in Austin for $45 million. The two centers, near the entrance of the Circle C Ranch community off the Mopac Expressway, are 100 percent leased and contain a total of 117,146 square feet. “With this acquisition closed, we have now invested $135 million in the Austin ... Read More »

Texas Property Tax Appraisal Methods Often Fail to Reflect Market Value

HOUSTON — The Harris County Appraisal District, and other agencies that appraise private properties for tax purposes, have increased property appraisals sharply using mass appraisal methodology that often fails to reflect actual market value for commercial properties, according to the Deal Sikes & Associates real estate valuation firm. “HCAD’s mass appraisals tend to be inconsistent and we often see a ... Read More »

Bulletproof: Despite Oil Crash, Texas Home Sales Surge in First Quarter; Inventory at All-Time Low

AUSTIN – The Texas residential markets remained immune to the drastic fall in oil prices, as the Lone Star State posted exceptionally strong home sales in the first quarter of 2015, the Texas Association of Realtors reported. The inventory of homes for sale fell to an all-time low. With oil falling from $107 a barrel last summer to less than ... Read More »

Former Bombay Co. HQ Building Purchased by Transwestern Investment Group

FORT WORTH – The former Bombay Co. headquarters building in Fort Worth has been purchased by Transwestern Investment Group, on behalf of Diversified International Partners. CBRE Capital Markets announced the sale of 550 Bailey, a recently renovated, Class A office in Fort Worth’s Cultural District. The seven-story, 122,828-square-foot asset was completely renovated in 2008 and once served as headquarters for ... Read More »

Sale of AmREIT Firm Approved: Closing of Deal in Late Feb.

HOUSTON —  Shareholders of AmREIT Inc., a Houston-based real estate development firm, have approved the sale of AmREIT to South Carolina-based Edens Investment Trust. AmREIT controls a number of significant retail centers and mixed-use projects including the Uptown Park, a major Houston center that is undergoing a major redevelopment and high-rise densification. The deal will close between Feb. 18 and Feb ... Read More »

Chicago CRE Firm Enters Houston Market

HOUSTON – Chicago-based Waterton Associates LLC, a U.S. real estate investor and operator, has entered the Houston market with its acquisition of the Villas at Hermann Park, a 320-unit wrap-style rental community adjacent to Hermann Park and the Texas Medical Center., whose 54 institutions employ approximately 106,000 people, making it the largest collective employer in Houston and the world’s largest ... Read More »

Crimson/USAA Start New Building in NW Austin

AUSTIN – Patrinely Group, headquartered in Houston, will develop Aspen Lake Two, a 129,000 rentable square foot building located at the intersection of Lake Creek Parkway and Pecan Park Boulevard, immediately east of Highway 183. Aspen Lake Two is 54 percent preleased to Q2ebanking, a provider of premier electronic banking solutions for community-focused banks and credit unions throughout the U.S. Leasing ... Read More »

CBRE Acquires UCR of Dallas

DALLAS – CBRE Group, Inc.  has acquired United Commercial Realty (UCR), a Dallas-based commercial real estate firm specializing in retail services. UCR manages retail properties for institutional investors nationally and provides brokerage services for them and for leading retailers across Texas and other markets. “The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management ... Read More »

Vista Equities Buys Austin Building

AUSTIN – A partnership headed by Vista Equities Group, a Houston firm led by Woody Mann, has acquired the Park Central office building in Austin. Park Central is a 114,091-square foot multi-tenant building located in Austin’s North submarket near the intersection of Interstate 35 and Parmer Lane. “This acquisition fits well into Vista’s investment philosophy and we are pleased to ... Read More »

Whitestone REIT Pays $40.7 Million for Sugar Land Retail Centers

HOUSTON – Houston-based Whitestone REIT has acquired two shopping centers, Williams Trace Plaza and Shops at Williams Trace in the Houston suburb of Sugar Land for $40.7 million. Williams Trace Plaza, purchased for $20.1 million, is 129,222 square foot center on 15 acres. Occupancy of the center is currently 95 percent. The Shops at Williams Trace, with a price of ... Read More »

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