Thursday , 11 February 2016
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35-Story Apartment Tower Planned Next to Texas Medical Center

HOUSTON – A joint venture of Greystar and Medistar Corp. have announced plans to develop Ascent Med Center, a 35-story apartment project on the western edge of the Texas Medical Center in Houston. Groundbreaking for the 375-unit project will be in the first quarter of 2016 with Hoar Construction as the general contractor. The project, located at the corner of ... Read More »

Occidental Petroleum to Move 100 Employees to Houston Following Sale of Oxy Tower in Dallas

DALLAS – Some 100 Occidental Petroleum employees will be relocated to Houston following the sale of the 570,000-square-foot  Occidental Tower on the LBJ Freeway in Dallas. With a sales price of $90 million, the 24-story building, located just west of the Dallas Galleria, was purchased by a partnership of Dallas-based Encore Enterprises and New York Life Insurance, according to the ... Read More »

Economists See Home Building Surge Coming: Realty News Report @ IBS in Las Vegas

LAS VEGAS – Home starts will rise about 18 percent in 2016, followed by a 30 percent increase in 2017, according to a forecast by David Crowe, chief economist of the National Association of Home Builders. An improving economy, generally steady job growth and increasing consumer confidence are helping to bring buyers back into the marketplace, said economists speaking at the recent NAHB International ... Read More »

Realty News Report: The NAHB Home Builders Convention in Las Vegas

LAS VEGAS – “Discover the Building Universe” was the theme of the National Association of Home Buildings International Builders’ Show held Jan. 19-21 in Las Vegas. Realty News Report covered the massive event and presents these highlights of the convention:  Millennials to Shape Housing Preferences, Once They Start Buying  LAS VEGAS – The millennial generation is poised to make a significant impact on home design, once they move out ... Read More »

Hilton Introduces New Tru Brand Hotels

McLEAN, Va – Hilton Worldwide has announced its new Tru by Hilton, a mid-priced hotel product targeted for Millennials and other travelers. “Demonstrating owners’ desire for a forward-thinking and innovative midscale brand with a strong value proposition, Hilton Worldwide already has 102 hotels signed and an additional 30 hotels in various stages of approval in cities including Dallas, Houston, Chicago, ... Read More »

NGKF Leases Space in Wulfe’s BLVD Place Development

HOUSTON – The Newmark Grubb Knight Frank commercial real estate firm has leased 38,582 square feet in the 2 BLVD Place at 1700 Post Oak in Houston. Lispah Hogan of NGKF represented her firm in the lease. The landlord was represented by Marilyn Guion and Connor Saxe of Colvill Office Properties and Elise Weatherall of Wulfe & Co. The move ... 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 »

Richland Buys Retail Center in Energy Corridor Area of Houston

HOUSTON – The Richland Cos., a Houston commercial real estate firm led by Edna Meyer-Nelson, has acquired a retail center in the Energy Corridor of west Houston. Richland bought Lakes on Eldridge Centre, at 5630 North Eldridge Parkway in the heart of the Energy Corridor. The center sits on 2.1 acres at the southeast corner of North Eldridge Parkway and ... Read More »

FedEx Ground Building 800,000 SF Distribution Center on Houston’s Grand Parkway

HOUSTON – FedEx Ground is developing an 800,000 SF distribution hub off of the Grand Parkway in the Cypress area. It will be the largest FedEx Ground facility in Texas, with 400 employees, upon completion in August 2017, FedEx Ground says. The 484-acre site was selected, FedEx Ground says, because of good access to major highways and work force and ... Read More »

200 Newspapers; 1 Copy Desk – GateHouse Media Expands Its Centralized News Hub in Austin

(By Dale King) AUSTIN – One of the nation’s largest newspaper publishing and website development companies, which prepares content, edits copy and designs pages at a centralized facility in Austin, plans to enlarge that center located in the Northview Business Center. CBRE Group Inc., the commercial real estate services and investment firm, said GateHouse Media, publisher of several hundred daily ... 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 »

Transwestern Leases 400,000 SF Near Port of Houston

HOUSTON – California-based Plastic Express has preleased 394,489 SF in Phase II at Port 225 in Pasadena, Texas, near the Port of Houston from Clarion Partners. The 750,000-SF Phase II of Port 225, set for completion in the second quarter, is 65 percent leased. Transwestern’s Brian Gammill and Darryl Noon represented the building owner, Clarion Partners. Jeff Huberman, Mike Spears ... Read More »

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