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Hotels Cluster Around New Exxon Mobil Campus

HOUSTON – Woodbine Development Corp. and InterMountain Management have opened the 128-room Residence Inn by Marriott Springwoods Village adjacent to the new 3 million-SF Exxon Mobil campus north of Houston. It is the first of four possible hotels slated for the 1,800-acre Springwoods Village, a $10 billion project being developed by CDC Houston, a subsidiary of Coventry Development of New York. ... Read More »

UH Economist Bill Gilmer: A Bumpy Road Ahead, But Houston Should Emerge to Good Job Growth in 2017

HOUSTON – It’s all about oil in Houston right now. The drop in oil prices this time last year continues to send ripples throughout Houston’s economy. At the University of Houston’s Institute for Regional Forecasting Fall Symposium on Thursday economist Bill Gilmer gave an outlook difficult for optimists to swallow, noting Houston is in a serious downturn (not recession) and ... Read More »

Camden Sells Florida Apartment Project for $33 Million

BRANDON, Fla. – Camden Property Trust has sold the Camden Providence Lakes, a 260-unit multifamily property located in the Tampa suburb of Brandon, Florida. Roseview Winn Brandon, LLC purchased the asset for $33 million. The community is a garden-style apartment complex located east of downtown Tampa. JLL Capital Markets announced the deal, which include JLL team members International Director Jubeen ... Read More »

Houston’s Tepid Job Growth Has Not Destroyed Real Estate Markets

HOUSTON – Weakness in the energy industry undermined job growth in Houston in September, with only 6,400 new jobs created, according to the Texas Workforce Commission. “Only a few sectors are creating jobs,” says Patrick Jankowski, senior vice president of research for the Greater Houston Partnership. “We are definitely in a soft patch.” Over the last 12 months, the Houston ... Read More »

Texas Journalist Pam Yip Passes

Texas Journalist Pam Yip passed away Sunday after an illness. She was 59. For the last 16 years, Pam covered personal finance for the Dallas Morning News. Pam was one of the hardest working journalists in the business. She was always kind, cheerful and even-tempered and she could brighten a gray day with a friendly word. Pam worked for United ... Read More »

Hines, Institutional Partner Buy Atlanta Project for $195M

ATLANTA -– Hines, the Houston-based real estate firm, on behalf of an institutional investor, closed on the acquisition of Town Center at Atlantic Station retail center in the Midtown area of Atlanta. The 586,000-square-foot Town Center anchors a mixed-use development, situated on the former Atlantic Steel site, which also includes three Class A office towers, several multifamily communities, a full-service ... Read More »

CBRE Report: Dallas Unscathed by Oil Collapse

DALLAS – After a year of sliding and volatile oil prices, the commercial real estate fallout in energy markets is mixed across North America and by property type, but fears about widespread adverse impacts have not been realized, according to a new report from CBRE Group, Inc. The impact in Dallas/Ft. Worth has been minimal, as commercial real estate fundamentals ... Read More »

Insite Realty and Urban Cos. Start Office Building in West Houston

HOUSTON – Insite Realty and Urban Cos. have started construction on an office building west of Houston, not far from the Energy Corridor, where office vacancy has been rising. The 124,000 square-foot project will be ready for occupancy in March 2016. The building is Phase II of Grandway West office development near the Grand Parkway. Transwestern paved the way for ... Read More »

Midway Announces New Office Tower Next to Houston’s First Baptist Church

HOUSTON  – Midway,  a Houston-based developer has begun pre-leasing One Parkside, a speculative office project on a prime, 3.86-acre site adjacent to Houston’s First Baptist Church, near two of Houston’s main freeways. One Parkside, a 13-story tower with 225,000 square feet of Class-A office space, 10 floors of integrated garage parking and 2,000 square feet of ground floor retail, allocated to a café, ... Read More »

Houston REIT Buys North Texas Retail Center

KELLER, Texas – Houston-based Whitestone REIT acquired Keller Place, a retail project in the Dallas/Fort Worth area for $14.3 million. The 93,541 square-foot Kroger-anchored retail center is 92 percent leased. As part of the deal Whitestone obtained two developable land parcels with expansion potential of approximately 30,000 leasable square feet. “Keller Place meets our service-oriented, community centered property criteria. We are ... Read More »

Building Sold in Austin’s Parmer Park

AUSTIN – Casa Marco bought the Parmer 6.2, a 292,000-square-foot office / flex building in the Parmer Technology and Office Park in Austin. The 400-acre Parmer technology and office park is being developed by Los Angeles-based Karlin Real Estate and Dallas-based Trammell Crow Co. Karlin acquired the building from Dell in 2012 when the computer maker moved to consolidate its operations to ... Read More »

New Office Building for Pearland Town Center Near Houston

PEARLAND, Texas – CBL Properties, a REIT based in Tennessee, is developing a 60,000-square-foot office building in Pearland Town Center, a large mixed-used project just south of Houston. The existing office space in the project is 96 percent leased and rents are strong, reports broker Lilly Golden of Evergreen Commercial Realty. Pearland Town Center had the misfortune of opening in ... Read More »

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