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Category Archives: Texas

Bill Gates Investment Arm Buying Four Seasons Hotel in Downtown Houston

Microsoft chairman Bill Gates’ investment firm, Cascade Investments, is buying the Four Seasons Hotel in downtown Houston considered one of the finest hotels in Texas. Located at 1300 Lamar Street, near Discovery Green park, the luxury hotel features 404 rooms and suites and 64 rental apartments. Gates’ Cascade Investments is buying the Four Seasons from Maritz, Wolff & Co. which has ... Read More »

Houston Shopping Center Sells for $41.6 Million

HOUSTON – AmREIT, Inc., has acquired Woodlake Square Shopping Center, a 160,761 sf shopping center in Houston, for $41.6 million. The center is anchored by Randalls and Walgreens. Woodlake Square, located at the northeast corner of Westheimer and Gessner, has average household income in a one-mile radius of $69,595, and 82,692 households in a three-mile radius. Woodlake Square was purchased from ... Read More »

Cousins Buys $1.1 Billion of Texas Properties: Greenway Plaza and Ft. Worth Tower

HOUSTON – Cousins Properties closed on its purchase of the 10-building Greenway Plaza project in Houston for $950 million, the Atlanta-based REIT announced. The $1.1 billion deal, announced earlier this year, also gives Cousins ownership of 777 Main Street, a 980,000-sf Class A building in downtown Fort Worth. The seller is a joint venture operated by Crescent Real Estate Holdings ... Read More »

AmReit Contracts to Buy Woodlake Center for $41.6 Million

HOUSTON – AmREIT, a Houston-based retail REIT, has contracted to buy the Woodlake Square Shopping Center at 9600 Westheimer Road for $41.6 million. The 161,000-sf center is 88 percent leased with Randall’s grocery, Walgreens and Jos. A Banks as key tenants. The seller is VIF II/AmREIT Woodlake, LP, a Texas limited partnership. Located near the corner of Westheimer and S. ... Read More »

Prices for Retail Land Surging as Houston’s Inner Loop Population Grows

HOUSTON – Growth in the Inner Loop of Houston has set the stage for a significant price surge – perhaps more than 50 percent — for shopping center development sites and parcels that can be re-adapted for retail use, according to the Deal Sikes & Associates valuation firm. “Land for urban retail development close to downtown is in high demand ... Read More »

Houston Home Sales Hit All-Time Record

By Ralph Bivins Houston home sales hit their highest monthly sales total ever in May, establishing a new record of 7,794 home sales in a single-month, the Houston Association of Realtors reported. The May sales total, up 28 percent over May 2012, shattered the previous monthly record established in June 2006 when 7,688 single-family homes were sold in the Houston ... Read More »

Austin CBD Project to Include 30-story Tower, Office and Retail

AUSTIN – CBRE Debt & Equity Finance team in Houston arranged $83.5 million in construction financing on behalf Seaholm Power, LLC for the redevelopment of the Seaholm Power Plant, an historic, art deco facility located in the southwestern portion of the Austin Central Business District. The borrower, Seaholm Power, LLC, a joint venture between Austin-based Southwest Strategies, Los Angeles-based CIM ... Read More »

CBRE Sells Three Retail Projects in Houston

HOUSTON – CBRE coordinated the sale of three shopping centers in the Houston area.The properties total approximately 313,344 sf and are located in Houston, Pasadena and Katy, Texas. … Northwest Village, an 189,968 sf community center at 17360 Northwest Freeway in Houston, was purchased by Gordon Partners. The seller was Baceline Investments of Denver. It is 90 percent leased. … ... Read More »

Shorenstein Buys Exxon Mobil Tower for $50 Million

By Ralph Bivins HOUSTON – Shorenstein Properties has acquired the 45-story Exxon Mobil building in downtown Houston for a redevelopment that will restore the property to Class A status. The Exxon Mobil building, located at 800 Bell at Travis, was built in 1962 as the headquarters of Humble Oil & Refining, a predecessor to Exxon Mobil. The sales price was ... Read More »

Taylor Morrison Buys Texas Home Builder

HOUSTON – Taylor Morrison, a Scottsdale, Ariz.-based  North American home builder, has entered into a purchase agreement to acquire Texas home builder Darling Homes for an undisclosed price.  Darling Homes builds homes for move-up buyers in 28 communities in the Dallas-Fort Worth Metroplex and Greater Houston Area markets. “As home buyers continue to demand top quality homes in sought-after desirable ... Read More »

MD Anderson Cancer Hospital Buys Major Tract in West Houston

HOUSTON – The University of Texas’ MD Anderson Cancer Center purchased 34.5 acres in the Energy Corridor of west Houston for a major medical facility. The site is in Wolff Cos.’ 78-acre Central Park development,located on the north side of I-10 between North Eldridge Parkway and SH 6, was assembled by Wolff in late 2011 and early 2012. “Central Park ... Read More »

New Office Buildings Under Development in Midland, Texas as Permian Basin Drilling Boosts Economy

MIDLAND, Texas — Houston-based Satterfield & Pontikes Construction, is planning construction of multiple, new 100,000-square-foot office buildings in Midland, Texas. The site for the project is located in Westridge Park, a 100+-acre master-planned development situated in Midland’s premier high-growth Western Corridor. Midland’s soaring economy has benefited from increased energy production as a result of new drilling technologies in the liquids-rich ... Read More »

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