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Lyric Market Food Hall to Open in New Downtown 327,000-SF Parking Garage

HOUSTON – (Realty News Report) – Jonathan Enav is developing a 31,000-SF food hall in the new Lyric Centre parking garage developed by Hines in downtown Houston. The 800-space garage is being built adjacent to the Lyric Centre office building, 440 Louisiana St. The food hall, called Lyric Market, will open in the fall of 2018 with a bakery, sushi ... Read More »

Houston is Making a Massive Mistake With the Location of the High-Speed Train Terminal

HOUSTON – (Commentary by Ralph Bivins, Editor, Realty News Report) Houston is about to make a huge mistake with the development of its high-speed train to north Texas. The proposed Texas Central 200 mph rail line that will run from Houston to Dallas has a lot of good things about it. The train will be good for transit, good for ... Read More »

REIT Buys Pad-Site Bank Building

HOUSTON – (Realty News Report) – NADG NNN REIT, an investment group that acquires free-standing retail buildings the parking lots of shopping centers, has acquired a Bank of America building on the Katy Freeway in Houston. HFF handled the sale of the 7,568-SF, single-tenant retail building leased to Bank of America’s Hedwig Village branch. The HFF team marketed the property ... Read More »

Two New Tenants Going to Sage Plaza

HOUSTON – (Realty News Report) – Sage Plaza, a 25-story building in Houston’s Uptown/Galleria submarket, has two new tenants, according to CBRE. The 531,000-SF Sage Plaza, 5151 San Felipe at Sage Road, was completed in 1983. Jason Presley and Debbie Wilson of CBRE’s Houston office represented the building owner, Granite Barnhart Sage Plaza, LP, in the leases. The two lease ... Read More »

Namesake Tenant Renews Huge Lease in Iconic Tower

HOUSTON – (Realty News Report) – Williams, one of the nation’s leading natural gas infrastructure operators, has renewed its 353,944-SF lease in Williams Tower, a 64-story office building adjacent to the Galleria. Dave Hanusa, Bonnie Kelley-Dienna and Jason Presley of CBRE’s Houston office represented the landlord, Invesco Real Estate. Ronnie Deyo and Beau Bellow of JLL represented the tenant. Headquartered ... Read More »

Rethinking Downtown: Realty News Report’s Q&A with Bob Eury of Central Houston

HOUSTON – (Realty News Report) – What will Downtown Houston look like in 20 years?  It should have an Innovation District, a Green Loop – a five-mile pedestrian and bike circuit connecting downtown with adjoining neighborhoods — driverless cars and no traffic lights or street signs. That’s according to Plan Downtown: Converging Culture, Lifestyle & Commerce, which was unveiled earlier this month. One of the key recommendations is rethinking ... Read More »

Energy Corridor Office Building Sold

HOUSTON – (Realty News Report) – An investment group affiliated with Gearing Capital Partners of Dallas acquired a 137,000-SF office building at 16001 Park Ten in the Energy Corridor. The building, which is 100 percent vacant, will receive a multi-million-dollar redo, according to Stream Realty Partners, which handled the sale. Stream’s Ryan Bishop represented the seller, Spirit Realty. Bishop and ... Read More »

Only 40 of Houston’s 1,200 Office Buildings Damaged by Hurricane Harvey, CBRE Reports

HOUSTON – The vast majority Houston’s office buildings escaped major damage from Hurricane Harvey with flood loss primarily confined to West Houston, Allen Parkway, West Loop/Galleria and FM 1960/Highway 249, according to an analysis by global commercial national real estate firm CBRE. Forty of Houston’s 1,200 office buildings were damaged to a certain extent. Single-family homes and multifamily properties were mostly ... Read More »

Houston Firm Acquires Dallas Office Building

DALLAS – An affiliate of Tanglewood Property Group of Houston has acquired Preston Plaza, a Class A office building in Far North Dallas. CBRE’s Eric Mackey, Gary Carr, John Alvarado, Jared Chua and Robert Hill represented the seller, Caddo Holdings of Dallas. Built in 1986 and renovated in 2015, the building has 259,009 SF of office space, which is 91 ... Read More »

Stabilization in Sight: Houston Multifamily Market Heading Toward Recovery

HOUSTON – (By Dale King) – A combination of increasing demand and less new inventory in a particular housing market may not always be a healthy amalgamation. But in Houston right now, the combo seems to be working well, at least in the multifamily housing sector, says Berkadia’s second quarter 2017 report. “Continued apartment demand, coupled with less new inventory, ... Read More »

The Good, Bad and Ugly of Houston Real Estate: The Midyear Assessment by NAI Partners

HOUSTON – (By Michelle Leigh Smith) – Houston’s commercial real estate market presents some highs and some lows at midyear 2017. The retail and industrial sectors show strength while the office market has seen better days. And the failure of West Texas Intermediate crude to rise above $60 a barrel puts a damper on hopes for another major growth spurt ... Read More »

$10 Million Renovation Set for Museum Medical Tower

HOUSTON – The Museum Medical Tower, near Houston’s Hermann Park, is undergoing a $10 million renovation. The 177,476-SF medical office tower is on the north side of the Texas Medical Center at 1213 Hermann Drive, near Park Plaza Hospital and the Museum District. HCP Inc., the building owner, engaged Cassetty Architecture of Hendersonville, Tenn. to design the renovation. HCP owns ... Read More »

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