Sunday , 1 May 2016
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Houston’s Phoenix Tower to be Sold

HOUSTON – Parkway Properties, an Orlando-based REIT, is selling the 34-story Phoenix Tower, a continuation of its ongoing sell-off of its Houston office portfolio. The 629,000-SF building is expected to fetch $104 million or $164 per SF, according to Real Estate Alert. Eastdil Secured, which is expanding in Texas, is marketing the building, 3500 Southwest Freeway at Buffalo Speedway in ... Read More »

Selling America’s Largest Industrial Park: The Q&A with Joel Michael of NAI Partners

(By Dale King) HOUSTON – Joel Michael of NAI Partners has a HUGE assignment. He’s selling development sites in the fifth largest industrial park in the WORLD – and the largest one in the United States – the TGS Cedar Port Industrial Park adjacent to Baytown, 35 minutes from downtown Houston. In the aftermath of the oil price crash, some ... 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 »

Survey: Houston is a Prime Location for First-Time Homebuyers

(By Dale King) HOUSTON – The housing crisis brought on by last decade’s Great Recession has softened, but hasn’t gone away – and certainly isn’t forgotten. Today’s home ownership rate of 64 percent is still slightly anemic compared to the 69 percent of people who called their personal domiciles their own in 2005. The drop was particularly steep among young, ... Read More »

Boosted By Population Growth, Houston Home Sales Continue to Churn, Despite Energy Crash

HOUSTON – Houston’s home sales, boosted by robust population growth, are keeping pace with last year, despite the downturn in the energy industry. Last year was one of the strongest years on record for Houston home sales, so the 2016 market is showing resiliency and strength by keeping up with 2015. The Realtors said the $150,000 to $250,000 price band ... Read More »

Houston Realtors Expand HAR Web Site to Include Austin Listings

HOUSTON – Houston Association of Realtors’ website is now carrying listings from Austin, part of the Houston realty organization to expand across the state. With the addition of Austin-area properties from ABoR, HAR.com now offers 92 percent of all the real estate listings in the lone star state. HAR.com is ranked among the top real estate websites in Texas. Each ... Read More »

Kirby Grove, New Mixed-Use Project by Midway, Secures Indian Eatery

HOUSTON – Kiran’s Indian Restaurant signed a new retail lease for 6,548 square feet at Kirby Grove, 2925 Richmond Avenue in Houston’s Upper Kirby area. Kirby Grove, a Midway Cos. development, will combine Class-A office space, dining amenities and high-end lofts to create an Inner Loop mixed-use environment. Coupled with the redeveloped Levy Park, Kirby Grove is expected to be a ... Read More »

New 1,350-Acre Master Planned Community Underway West of Houston

HOUSTON – Home sales have started in Jordan Ranch, a new 1,350-acre development one mile south of Interstate 10 on the west side of Houston. Johnson Development Corp., a Houston-based firm, is developing the community, one of several projects it has ongoing in Texas. Newmark Homes has started presales in Jordan Ranch, offering 20 one- and two-story designs priced from ... Read More »

New Office Building to be Built on Site of Former Austin Airport

AUSTIN – A new office building will be constructed for Texas Mutual Insurance Co. in Austin in Mueller, the 700-acre redevelopment of the city’s airport. Texas Mutual Insurance, a provider of workers’ compensation insurance, plans to consolidate its Austin offices and move its headquarters with more than 600 employees to the new building in the Mueller community’s Aldrich Street District. ... Read More »

Dallas’ Hot Market: The Q&A with Arch-Con’s Robert Martin

For nearly two decades, Arch-Con Construction, a Texas-based general contractor specializing in commercial design and construction services for real estate developers, building owners, architects, brokers and tenants has had a major presence in Houston. The company currently has some 100,000 square feet of office buildings, eight hotels, more than 2 million square feet of industrial buildings, 750,000 square feet of ... Read More »

Stream Realty Developing 108,000 SF of Retail Southeast of Houston in Pearland

PEARLAND, Texas – Stream Realty has broken ground on the Center at Pearland Parkway II, a 108,000-SF second phase of a power center in east Pearland. The 166,000-SF first-phase of the two-year-old center, located at the northwest quadrant of FM 518 and Pearland Parkway, is 95 percent leased. The Pearland Parkway has significant demographics and buying power, establishing it as ... Read More »

A Ritz-Carlton, Perhaps? – Simon Plans 30-Story Hotel/Condo Tower in The Galleria Complex

HOUSTON – Simon Property Group says it will move ahead with its plan to build a 30-story hotel and condo tower, probably similar to a Ritz-Carlton hotel/condo tower, in The Galleria in Houston. The hotel will be built on the site of a former Macy’s, along Sage Road on the western side of Galleria, a massive mixed-use development conceived by ... Read More »

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