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49 Texas Warehouses Sold in $1 Billion Deal

HOUSTON – DRA Advisors of New York has paid $1 billion to acquire 49 Texas warehouses and other industrial properties from Cabot Properties of Boston. The 19.8 million SF portfolio includes 25 Houston buildings with a total of 1.7 million SF and 24 Dallas-area buildings with a total of 2.7 million SF. Cushman & Wakefield and Eastdil Secured represented the ... Read More »

Economist Tells Transwestern Houston Crowd: “The Worst is Over”

HOUSTON – After a severe thrashing from a free fall in oil prices, the Houston economy has finally bottomed out and will begin a slow climb upward. “The worst is over for Houston’s energy economy,” said Houston economist Patrick Jankowski of the Greater Houston Partnership. “We are seeing a gradual improvement in oil prices and the rig count.” Jankowski delivered ... Read More »

Black Falcon Energy Leases Sublease Space in Downtown Houston

HOUSTON – Black Falcon Energy leased 17,000 SF at the 717 Texas Avenue tower in a sublease of downtown office space. Contango Oil and Gas Co., the sub-landlord, was represented by Ed Prejean, David Bale and Diana Bridger of JLL. Trey Strake of Cushman & Wakefield represented Black Falcon. Formerly known as Calpine Center, the 717 Texas Avenue tower is ... Read More »

Don’t Mess with Texas Realty: Q&A With Vicki Fullerton, Chair, Tx Realtors Assn.

(By Dale King) HOUSTON – Realtor Vicki Fullerton, a broker associate at RE/MAX The Woodlands & Spring, took the stage at the Texas Realtors Conference in Galveston last month to take on the duties of chairman of the Texas Association of Realtors. The 38-year residential real estate veteran told Realty News Report during an interview that home builders “can’t keep up” ... Read More »

Montrose Mixed-Use Project Slated for January Construction Start

HOUSTON –  SFT Investments is developing Fairview District, a mixed-use project in the Montrose area in the Inner Loop of Houston. Construction is slated to begin January 2017. Fairview District  will be comprised of four buildings, offering boutique office, restaurant and retail space, as well as a five-story parking garage.  The project, located near the intersection of Fairview and Genesee ... Read More »

NGKF: Angelo Gordon Buys CH2M Headquarters for $122 Million

ENGLEWOOD, Colo. – NGKF Capital Markets has completed the $122 million sale of the CH2M global headquarters, a 370,485-square-foot, three-building office campus in Englewood, Colo. The property is 100 percent leased on a long-term basis to CH2M Hill Inc., one of the world’s leading engineering and construction firms. Kevin Shannon, Ken White, and Laura Stumm of NGKF Capital Markets in ... Read More »

NAI Partners to Lease Tenaris Building

HOUSTON – Tenaris Global Services USA Corporation has selected NAI Partners to lease its office building at 2200 West Loop South. 2200 West Loop South, a 196,217 sf, 10 story – Class A office building is conveniently located within the West Loop/Galleria Submarket of Houston. Originally designed by Skidmore, Owings, and Merrill; the building was developed in 1974 and underwent a ... Read More »

UH Buys Former Olajuwon Tract in Downtown

HOUSTON – A 17-acre downtown tract once owned by basketball star Hakeem Olajuwon has been sold to the University of Houston system for expansion of its downtown campus, the Houston Chronicle reports. The university purchased the tract, for about $13 million, from Wellington Fisher, a group led by Rocky Stevens, which bought the site from Olajuwon a few years ago. ... Read More »

Freeway/Park Concept Could Lead to Growth in EaDo Near Downtown Houston

HOUSTON – Freeways can create impenetrable barriers for development. Freeways can serve as effective borders between neighborhoods of mansions and blighted slums. So naturally, altering the freeways can change growth patterns and change cities. It’s a concept being discussed by Houston civic leaders and the Texas Department of Transportation and it could change downtown Houston and the surrounding urban areas. ... Read More »

Q&A with Alan Hassenflu: Redeveloping Exxon’s Brookhollow Campus, Baytown’s San Jacinto Mall and More

While Houston’s office sector remains in the doldrums, multifamily is struggling and has seen better days, retail remains hot.  One of the most active players – if not the most active player — in the Houston retail scene is Alan Hasssenflu. In a short span of time, Hassenflu has become one of the nation’s premier retail real estate developers. His firm, Fidelis ... Read More »

RNR’s Texas Real Estate Briefs

NAI: SPRING BRIDGE PROPERTIES BUYS WAREHOUSE HOUSTON – NAI Partners represented Spring Bridge Properties, LP in the purchase of a 15,000 SF warehouse on 2 acres in Hardy Industrial Center located at 21430 Spring Bridge Drive in Houston Michael Keegan of NAI Partners represented the Buyer, Spring Bridge Properties, LP during the negotiations, while Richard Quarles and Mark Nicholas of ... Read More »

NewcrestImage Developing a Four-Hotel Campus in Frisco Station

FRISCO, Texas – NewcrestImage, a Texas-based hotel firm, is developing an ambitious 4-brand, 600-room “lifestyle hotel campus” with four new hotels at Frisco Station, a 242-acre, mixed-use development located in the Frisco community, near Dallas. The four new hotels will be affiliated with Marriott, Hilton and Hyatt. The hotel campus – near the intersection of Dallas North Tollway and Warren ... Read More »

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