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Luxury Housing for Dogs: Cage-Free Kennels With Pet Bakeries and the Occasional Private Party

(By Dale King) HOUSTON – The reality of dog kennels and pet care facilities has changed during the past couple of decades, even though the widely accepted image of canines being kept in cinderblock cages that exit into chain link-fenced dog runs hasn’t. Many modern-day canine care centers across the nation look more like ranches or resorts than kennels, offering ... Read More »

Bull Run in Nation’s Apartment Market; But Texas Multifamily Firms Not High on the Leader Board

(By Dale King)  – Record high demand for rental units nationwide continues to fuel hot apartment industry growth. But the response in Texas is generally unremarkable, as evidenced in the National Multifamily Housing Council’s (NMHC) newly released 2016 NMHC 50, a ranking of the country’s largest apartment owners, managers, developers and contractors. The list shows that many of the nation’s ... Read More »

Opening Day: Martin Fein Completes Triple Play Multifamily Project

HOUSTON ‐ Martin Fein Interests, Ltd, has completed The Communities at Willowick Park, three individual multi‐family developments surrounding a one-acre urban park inside Houston’s 610 Loop at West Alabama and Las Palmas Streets. Fein, a Houston-based multifamily firm, said Willowick Park’s three distinct multifamily buildings each target a unique segment of the rental market in the Upper Kirby/Greenway Plaza area. ... Read More »

Granite Developing Office Building for Fannie Mae in Plano

PLANO, Texas – Granite Properties is developing a 10-story, 330,000 SF office building in Plano for the regional headquarters of the Fannie Mae, the government-sponsored mortgage firm. The project, located near Dallas North Tollway and State Highway 121 in Granite Park, will break ground this summer and open in late 2017, reports Steve Brown of the Dallas Morning News. The ... Read More »

CBRE: Houston Office Vacancy Up Sharply Over Last 12 Months

HOUSTON – The Houston office market, under pressure with a decline in the energy industry, has seen a sharp increase in office vacancy space and the trends point to more vacancies for the rest of the year, according to a first quarter report from the CBRE real estate firm. The citywide office vacancy rate hit 14.3 percent in the first ... Read More »

Transwestern’s Ridge Development Starting 1.6 Million SF Spec Project in North Texas

DALLAS – Ridge Development, the industrial development arm of Transwestern Development Co., will start a 1.6 million SF spec industrial project at the northwest corner of Interstate 20 and State Highway 360 in Arlington, near Dallas. The 119-acre project, called Park 20/360, is owned by a venture between Invesco and Ridge Development. Ground breaking is set for the second quarter. ... Read More »

Single-Family Trend: Surge Homes Building in Inner Loop Niche

HOUSTON – Surge Homes, a Houston-based residential real estate developer and builder, has opened Upper Richton, a gated community in the Inner Loop of Houston. Located on the southwest corner of Richton Street and Morningside Drive in the Upper Kirby District, Upper Richton is an $8.2 million, 13-home community made up of nine single-family homes and four attached townhouses. Eight of the ... Read More »

Valor Capital Makes Another Texas Buy

AUSTIN, Texas  – CBRE Capital Markets’ Investment Properties announced the sale of two stabilized Class B office buildings in Austin, totaling 124,310 square feet. New York-based Valor Capital Partners purchased the Briarcroft Building and 9101 Burnet from Nashville-based OakPoint Real Estate for an undisclosed price. The Briarcroft Building is a 63,825-square-foot, office building at 12710 Research Boulevard. The asset is 100 percent ... Read More »

Sublease Supply will be Over 10 Million SF Soon: Oil Companies Shedding Office Space in Houston

HOUSTON – The Houston office market is headed into a rough year. Houston’s energy companies are shrinking and at the same time 22 office buildings are under construction. “It’s pretty bad out there. I’m not going to sugar-coat it,” said office tenant representative leasing broker Brandon Clarke, senior vice president of CBRE in Houston. “Houston is a down market right ... Read More »

2015 was the Best Year Ever in Texas Real Estate History

AUSTIN – Last year was the strongest year ever for home sales in Texas real estate history. Texas home sales rose 4.1 percent from 2014 to 309,090 home sales, the Texas Association of Realtors says. This is the first time that annual Texas home sales have topped 300,000 and it shatters the state sales record, which was set in 2014. ... Read More »

NAI Partners: Sublease Space Supply Up 63 Percent in Houston’s Class A Office Market

HOUSTON – The downturn in the energy business has pushed the supply of sublease office space to more than 8 million SF, more than twice the historic average, according to NAI Partners. Houston’s supply of Class A sublease space is up 63 percent increase since the end of 2014, according to Dr. Nat Holland, chief research and data scientist of ... Read More »

For Our Readers – A Pair of New Year’s Resolutions (Commentary)

To Our Readers: New Year’s Resolutions: It’s not too late to add a pair of resolutions as we proceed into 2016. From: Ralph Bivins, Editor, Realty News Report. LUXURY – Realty News Report will never call an apartment complex “luxury.” It’s an over-used term – big-time. We started using it in the early 1990s after a long apartment construction drought. The ... Read More »

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