Sunday , 1 February 2015
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Hines Breaks Ground on 32-Story Apartment Tower in Downtown Houston

HOUSTON – Hines has broken ground on a 32-story apartment building next to Market Square Park in the northern part of downtown Houston. Designed by Ziegler Cooper Architects, the Hines tower will be built on about one-half of a block bounded by Prairie, Preston, Travis and Main. The block is known as “Block 44.” The 274-unit rental project will be ... Read More »

32 New Grocery Stores Will Be Built in Houston in 2015

HOUSTON – Houston is experiencing a retail construction boom with 32 new grocery stores, along with other retail properties in the 2015 pipeline, according to a retail survey by Wulfe & Co. Wulfe projected that 3.7 million square feet of retail space will open in the Houston area this year, a 56 percent increase over last year. Houston’s retail construction ... Read More »

Crimson/USAA Start New Building in NW Austin

AUSTIN – Patrinely Group, headquartered in Houston, will develop Aspen Lake Two, a 129,000 rentable square foot building located at the intersection of Lake Creek Parkway and Pecan Park Boulevard, immediately east of Highway 183. Aspen Lake Two is 54 percent preleased to Q2ebanking, a provider of premier electronic banking solutions for community-focused banks and credit unions throughout the U.S. Leasing ... Read More »

CBRE Acquires UCR of Dallas

DALLAS – CBRE Group, Inc.  has acquired United Commercial Realty (UCR), a Dallas-based commercial real estate firm specializing in retail services. UCR manages retail properties for institutional investors nationally and provides brokerage services for them and for leading retailers across Texas and other markets. “The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management ... Read More »

N.Y. Group Buys Aloft Hotel in Houston’s Galleria Area

HOUSTON – Westpark I,  a Melville, N.Y.-based group, has purchased the Aloft Hotel near the Galleria in Houston. The seller was HEI Hotels and Resorts who will continue to manage the 152-room hotel for the new owners.  Matthew F. Keefe, President of HK Group, brokered the transaction. The hotel is located at 5415 Westheimer Road within walking distance of the Galleria. ... Read More »

Colliers: Huge Absorption of Houston Office Space in 2014

HOUSTON – A whopping 6.8 million square feet of office space was filled in Houston last year, despite big gains in rental rates, according to the year-end report by Colliers International. The big driver of the leasing activity was incredible job growth, as Houston added about 125,000 jobs last year – the strongest year for jobs since 1981. Forecasters are ... Read More »

San Antonio Multifamily Project Sold

SAN ANTONIO — CBRE Capital Markets’ multifamily team announces the sale of Broadstone Colonnade on behalf of Kansas City, Missouri-based Price Development Group. An anonymous buyer purchased the 282-unit, Class A multifamily project in northwest San Antonio.. Broadstone Colonnade, at 4330 Spectrum One in San Antonio, is made up of 282 one-, two- and three-bedroom units featuring eight floor plans. ... Read More »

2014: Record High Home Sales in Houston

The Houston Association of Realtors reported 75,319 single-family homes were sold last year, the highest annual sales total on record and a 2.8 percent increase over sales in 2013. “It was one for the record books,” Houston real agent Amy Bernstein of Bernstein Realty. “Everyone is excited about it.” Houston’s robust job growth, with about 125,000 new jobs created over ... Read More »

Citizens Invited to Vote for ULI’s “People’s Choice” Award for Favorite Houston Real Estate Projects

HOUSTON – The Houston District Council of the Urban Land Institute (ULI) will recognize some of Houston’s groundbreaking real estate developments at the January 27 Development of Distinction Awards presented by Winstead Attorneys. The public is invited to vote for their single favorite project among the finalists in the “People’s Choice” Award. The ULI awards recognize developments that exemplify best ... Read More »

Ashford to Buy Lakeway Resort on Lake Travis in Austin for $33.5 M

AUSTIN – Ashford Hospitality Trust has agreed to acquire the 168-room Lakeway Resort & Spa in Austin for a total consideration of $33.5 million or $199,000 per key. Located on the shore of Lake Travis, the hotel features 24,000 square feet of meeting space. The acquisition is expected to close within the next 30 days, said Ashford, a Dallas-based REIT. Upon closing, the ... Read More »

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