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Houston REIT Buys North Texas Retail Center

KELLER, Texas – Houston-based Whitestone REIT acquired Keller Place, a retail project in the Dallas/Fort Worth area for $14.3 million. The 93,541 square-foot Kroger-anchored retail center is 92 percent leased. As part of the deal Whitestone obtained two developable land parcels with expansion potential of approximately 30,000 leasable square feet. “Keller Place meets our service-oriented, community centered property criteria. We are ... Read More »

Building Sold in Austin’s Parmer Park

AUSTIN – Casa Marco bought the Parmer 6.2, a 292,000-square-foot office / flex building in the Parmer Technology and Office Park in Austin. The 400-acre Parmer technology and office park is being developed by Los Angeles-based Karlin Real Estate and Dallas-based Trammell Crow Co. Karlin acquired the building from Dell in 2012 when the computer maker moved to consolidate its operations to ... Read More »

New Office Building for Pearland Town Center Near Houston

PEARLAND, Texas – CBL Properties, a REIT based in Tennessee, is developing a 60,000-square-foot office building in Pearland Town Center, a large mixed-used project just south of Houston. The existing office space in the project is 96 percent leased and rents are strong, reports broker Lilly Golden of Evergreen Commercial Realty. Pearland Town Center had the misfortune of opening in ... Read More »

CBRE Names Research Leadership

HOUSTON — Robert C. Kramp has been named Director of Research & Analysis and Research Operations Manager for CBRE’s Texas/Oklahoma region. Kramp, based in CBRE’s Houston office, most recently served as a Senior Vice President and National Director with JLL’s Americas Research team, supporting occupier and investment brokerage teams in the Midwest and Great Lakes region. He also spent four ... Read More »

Logistics Firm Buys Warehouse on U.S./Mexico Border

MCALLEN, Texas – CBRE announced the sale of McAllen Distribution Center I, a vacant 210,140-square-foot industrial warehouse in McAllen, a city near the Mexico border. McAllen-based Ci Logistics Group purchased the asset from Los Angeles, Calif.-based 6800 International Ltd for an undisclosed price. Ci Logistics, an integrated logistics services firm that services the U.S./Mexico border, will occupy approximately half of ... Read More »

MetroNational Developing Office Project on North Side of Katy Freeway in Houston

HOUSTON – MetroNational is developing an office building on the north side of the Katy Freeway, representing a northward expansion of its 265-acre Memorial City mixed-use development. The 240,000-square-foot office building will house the U.S. headquarters of Cemex, a Mexico-based cement and building materials company. The six-story office building will be situated on MetroNational’s 18-acre tract located at the northwest ... Read More »

Electro Tech Industries Buys Industrial Building

HOUSTON –NAI Partners represented Electro Tech Industries in the acquisition of 115,000 square-foot industrial building located at 303 West Little York in Houston. Founded in 2000, Electro-Tech Industries offers custom design, manufacturing, testing, and field service for electrical power distribution equipment and systems. According to Chris Caudill, with NAI Partners, who represented Electro-Tech Industries in the negotiations, “with this acquisition, ETI has more than ... Read More »

World’s Most Expensive Office Markets: London No. 1; Hong Kong No. 2 and Houston No. 47

London office buildings have the highest office rents/occupancy costs in the world, while Hong Kong is second according to a new study by CBRE Group The Downtown Houston office market ranks No. 47 in rent/occupancy costs, the CBRE study reported. It is the highest priced office market in Texas. Markets with the fastest growing office space occupancy costs are Dublin, ... Read More »

Dallas Hotel Group Buys Three Hotels, Including French Quarter Hostelry

DALLAS – The Ashford hotel organization, which is affiliated with two hotel REITS, has announced several hotel acquisitions. Ashford Hospitality Trust has bought the 226-room Le Pavillon Hotel in New Orleans for $62.5 million of $277,000 per key. At closing, Remington Lodging assumed property management. The hotel is located next to the French Quarter, five blocks from Bourbon Street. Ashford Trust ... Read More »

RealPage Apartment Data Firm Leases 400,000 SF for New HQ

CARROLLTON, Texas— The RealPage apartment data firm has leased 400,000 square feet  of office space in the Telecom Corridor, in Richardson, near Dallas for its new headquarters. RealPage will move 1,400 employees into a building at 2201 Lakeside Blvd. near the North Central Expressway.  Stream Realty represented RealPage, a provider of on-demand software and software-enabled services to the rental housing industry. “We ... Read More »

Unilev Revamping Galleria Office Buildings

HOUSTON – Unilev Management Corp. is undertaking an $8 million renovation campaign for two Galleria office buildings. The two buildings are: the Galleria Office Tower I, a 493,456-square-foot office tower located at 2700 Post Oak Boulevard, and the Galleria Financial Center, a 251,974-square-foot building located in the middle of Houston’s Galleria Mall at 5065/5075 Westheimer. Class A office buildings, developed ... Read More »

Korean Investors Buy Lakes on Post Oak Project Near Houston’s Galleria

HOUSTON – FG Asset Management, a Korean syndicator, has paid about $175 million to purchase the 3000 Post Oak Boulevard building, a 441,000 square feet in the Lakes on Post Oak development in Houston. The 23-acre Lakes on Post Oak development, developed by Hines in 1982, consists of three office buildings totaling 1.2 million square feet. The site is just ... Read More »

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