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TriGate Capital Purchases North Houston Office Building

HOUSTON – TriGate Capital has purchased Northbelt Office Center II, located at 785 Greens Parkway in Houston. The office building was sold by C-III Asset Management, a special servicer. The two-story building totals 124,000 square feet and is currently 68 percent occupied by five tenants, although one tenant will vacate in mid-2016, moving occupancy to 48 percent. TriGate purchased the ... Read More »

Kimco Sells Louisiana Shopping Center for $24 Million

LAFAYETTE, La. – Acadiana Square, a 244,768-square-foot retail power center in Lafayette, La. has been sold for $24 million. Holliday Fenoglio Fowler (HFF) marketed the property on behalf of the seller, Kimco Realty Corp.  A partnership between DRA Advisors and RCG Ventures LLC purchased the shopping center free and clear of existing debt. “Acadiana Square is the premier retail destination ... Read More »

Realty News Report Awards: The Best Residential Project of the Year

Ralph Bivins’ Realty News Report Awards – The Best of Houston 2015 Realty News Report editor Ralph Bivins has selected the most significant projects, deals and ideas of the Houston real estate market for 2015. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments by the ... Read More »

Regency Place Office Building Sold

HOUSTON – Ardenwood Group purchased the 7207 Regency Square office building in Southwest Houston, near Harwin Drive and Hillcroft Avenue. Located north of U.S. Highway 59, The 52,000 square foot multi-tenant office property is currently approximately 10 percent occupied.  Doug Pack of NAI Partners facilitated the negotiation between the seller, Malladi Partners, LLC and the buyer. The building is near ... Read More »

Renovation Underway at One Riverway Building

HOUSTON – A major renovation project is underway at One Riverway, a 481,000 SF, 25-story office building, north of Houston’s Galleria, directly adjacent to the Omni Hotel at Woodway Drive. Improvements to the building will include new lobby and common area upgrades, new interior elevator cabs and backup generator. Unilev Management Corp., led by Dan and Raymond Levy, owns the ... Read More »

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 »

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