Tuesday , 24 October 2017
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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 »

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 »

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