Tuesday , 27 September 2016
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Texas Attracting Huge Numbers of International Homebuyers

(By Dale King)  International purchasers of homes in the United States added more than $10 billion to the Texas economy from April 2015 to March 2016, says a report prepared by the Texas Association of Realtors. Commenting on the findings, a major real estate firm in Houston said the reasons given by foreign buyers acquiring homes in the U.S. generally ... Read More »

Major Retail Tenant Signed for New Mixed-Use on Kirby Drive

HOUSTON – A large entertainment and restaurant tenant has leased space in the Kirby Collection mixed-use project which is under construction on Kirby Drive, just north of Richmond Avenue in the Inner Loop of Houston The tenant – Pinstripes – leased 33,830 SF in the  Kirby Collection. Pinstripes is a dining and entertainment venue will feature a variety of activities including ... Read More »

New Partnership Office Tower Open In Downtown Houston

HOUSTON – Partnership Tower, the newest office building in downtown Houston is now occupied. The 10-story, 100,000-SF building, 701 Avenida de las Americas, is connected to the north end of the George R. Brown Convention Center The Greater Houston Partnership, Houston First Corporation and the Greater Houston Convention and Visitors Bureau are now in their new home in Partnership Tower, ... Read More »

Halliburton Selling Off 48-Acre Campus in Houston’s Westchase District

HOUSTON – Halliburton Co., one of the largest oilfield service companies in the world, is selling its 48-acre Oak Park campus in the Westchase District. Halliburton has laid off thousands of employees as oil drilling activity has dried up over the last two years because of low oil prices. Rudy Hubbard and Kevin McConn of JLL are marketing the property ... Read More »

August was Best Month for Home Sales in Houston Real Estate History

HOUSTON – August was the best month for home sales in the history of Houston real estate, with a record 7,914 homes sold, the Houston Association of Realtors announced Wednesday. The monthly sales total surpassed the previous monthly sales record set in July 2015 when 7,898 homes were sold, HAR reported. The strong August continued an exceptionally strong year for ... Read More »

Two Texas Medical Center Buildings (673,000 SF) Sold to Texas Children’s Hospital

HOUSTON – Texas Children’s Hospital has acquired two major properties in the Texas Medical Center – including a 27-story tower developed by Hines – from Baylor St. Luke’s Medical Center. The two buildings – with a combined 673,000 SF – are the purchase of the Baylor Clinic Building located at 6620 Main St. and the O’Quinn Medical Tower at 6624 ... Read More »

Multifamily News Items from Realty News Report

DALLAS – The National Multifamily Housing Council is holding a Launch Pad technology competition to recognize new tech-based solutions for the apartment industry. The winner will be announced at the NMHC OPTECH multifamily conference Nov. 14-16 in Dallas. The conference and accompanying expo will focus on property operations, marketing, technology, sustainability and telecommunications.                       ……….……………………….  NAPA VENTURES ADDS EIGHT DEVELOPMENTS ... Read More »

Harold Farb’s Former Supper Club Leased by HESS

HOUSTON – The H.E.S.S. Club, an event center that was once the home of Harold Farb’s lavish Carlyle restaurant, has renewed its lease for the building on Westheimer Road. The late Harold Farb, a prolific Houston apartment developer, opened the Carlyle restaurant in 1983, The Carlyle was named after Farb’s favorite New York hotel. For entertainment at the Carlyle, Farb ... Read More »

Expansion-Minded McCann Developing Multifamily Project Near Austin; Seeks Other Deals

GEORGETOWN, Texas – McCann Realty Partners, which is seeking to expand its multifamily portfolio, has started construction on the 303-unit Retreat at Wolf Ranch Apartments in Georgetown, north of Austin. McCann, headquartered in Richmond, Va. with a regional office in Houston, will act as general contractor on the Georgetown project. McCann said it is “currently seeking new development opportunities and ... Read More »

Transwestern’s Noon: Industrial Vacancy Will Decline in 2017, Despite Addition of New Space

Talk to most people around the country about Houston real estate and the first thing they say is how bad the market is.  The growing inventory of office space in Space City has been well documented and widely reported. But other sectors in the Houston commercial real estate market, particularly retail and industrial, are healthy, even robust, in the nation’s fourth largest city. To find out more ... Read More »

NAI Partners: Houston’s Crane-Served Manufacturing Buildings Suffering Because of Oil Decline

HOUSTON – Demand for crane-served manufacturing buildings has declined sharply in Houston because of the drop in oil prices and drilling activity, according to a report by NAI Partners. Although other sectors of Houston’s industrial market are strong, the crane-served market has 1.4 million SF of sublease space available. Year-to-date the crane-served market has 1 million SF of negative absorption, ... Read More »

Canadian Firm Buys Houston Hotel

HOUSTON – Prime Real Estate Group, a Canada-based organization, has purchased the 207-room Holiday Inn Houston Southwest-Sugar Land Area. Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma of CBRE Hotels’ in Houston represented the seller, K&K Hotel Group, in the transaction. The buyer was also represented by CBRE Hotels. The hotel, located at 11160 Southwest Freeway in Houston, near ... Read More »

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