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Operator of Realtor.com Being Sold to News Corp for $950 Million

NEW YORK– - News Corp, the owner of the Wall Street Journal, has agreed pay about $950 million to acquire Move, the operator of the massive Realtor.com web site, which carries thousands of listings of homes for sale. Move has an exclusive arrangement with the National Association of Realtors, a trade group with 1 million members. REA Group Limited, which is ... Read More »

Condolences – Journalist Jerry Urban Passes

We extend sympathy to the family of journalist Jerry Urban, who passed away Tuesday after an illness. Jerry was a contributor to RealtyNewsReport and he was an outstanding journalist. Jerry was a tenacious reporter, a bulldog who never gave up. He worked as a reporter at the Houston Chronicle for 14 years. Jerry also worked at the San Antonio Express-News ... Read More »

Hertz Pays $88 Million to Buy Tallest Tower in Jacksonville, Fla.

Jacksonville, Fla. –Parmenter Realty Partners, a Miami-based realty firm, has sold the  Bank of America Tower in Jacksonville, Florida for $88 million. The 42-story, granite cladded, trophy office tower comprises 696,672 square feet, and has been Jacksonville’s perennial skyline landmark since its completion in 1990. Jubeen Vaghefi and Jeff Morris of Jones Lang LaSalle represented Parmenter in the sale. The buyer is Hertz Investment Group, ... Read More »

Transwestern Development’s Carleton Riser to Lead ULI Houston

HOUSTON – Carleton Riser, president of Transwestern Development Co., has been appointed chair of the Houston District Council of the Urban Land Institute (ULI), effective July 1. Riser succeeds Greg Erwin, who served as District Council Chair from 2011 to 2013. Riser has been a ULI member since 1996 and serves on a national ULI product council on urban and mixed-use development. He previously served as ULI Houston sponsorship co-chair for ... Read More »

Mallick/Keating Group Buys Westchase Office

HOUSTON – A real estate investment company led by Mallick Group, Inc. and Keating Investments, purchased the Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district. Mallick Group is a real estate and energy related investment firm based in Fort Worth, Texas and Keating Investments is a real estate and energy related investment firm based in Oklahoma City, ... Read More »

Southern Calif. Tower Sells for $102 Million

LONG BEACH, Calif. – Marking its second major Southern California commercial real estate purchase in less than two weeks, San Diego-based Parallel Capital Partners has acquired Shoreline Square, a Class A office tower overlooking the coastline in Long Beach, Calif. The property was purchased for $101.7 million from Guggenheim Real Estate. According to Matt Root, CEO of Parallel Capital Partners, the ... Read More »

Houston Gains 91,300 New Jobs in Last 12 Months

HOUSTON  — Houston gained 91,300 new jobs over the last 12 months, the Texas Workforce Commission reported Friday. The results, measuring job creation between January 2013 and January 2104, highlight the fact that the energy industry and virtually every sector of the Houston area economy is surging. Houston’s unemployment rate dipped to 5.7 percent in January, the lowest since November ... Read More »

ULI Houston Names Developments of Distinction

HOUSTON – The 46-story BG Group Place, The Woodlands master-planned community and the redeveloped Fire Station No. 6 on Washington Ave. were among the winners in 2014 Development of Distinction Awards presented by The Houston District Council of the Urban Land Institute (ULI). BG Group Place was developed by Hines and is owned by Invesco. With its grand design, technological ... Read More »

Grocer Aldi to Build 650,000 SF Facility in Rosenberg Near Houston

ROSENBERG, Texas – Aldi Inc., a leading low price grocer will build a 650,000 sf distribution center and divisional headquarters in Rosenberg, a community located southwest of Houston. The new ALDI facility in Rosenberg will serve the company’s emerging Houston market. As of May 2013, Batavia, Illinois-based ALDI had opened 12 new stores in the Houston area, and plans to grow ... Read More »

Home Sales Continue Surge Despite Rising Mortgage Rates

WASHINGTON — Existing-home sales increased in August and reached the highest level in six-and-a-half years, while the median price shows nine consecutive months of double-digit year-over-year increases, according to the National Association of Realtors. Total sales rose 1.7 percent to a seasonally adjusted annual rate of 5.48 million in August from 5.39 million in July, and are 13.2 percent higher than ... Read More »

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