Friday , 29 July 2016
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Despite Oil Woes, Houston’s Retail Center Market is One of the Best in the Nation

HOUSTON – Houston’s retail center real estate sector, virtually unblemished by a decline in the energy industry, is one of the strongest shopping center markets in the nation, according to Robert Kramp, director of research and analysis for CBRE. The retail center occupancy rate in the Houston area has reached 94.2 percent, a record high, according to second quarter statistics ... Read More »

Historic Imperial Sugar Refinery Sold for Huge Mixed-Use Redevelopment

SUGAR LAND, Texas – Imperial Market Development LLC has purchased the 26-acre Imperial Sugar Refinery for the development of an upscale, 855,000-SF, mixed-use retail, office, hotel and residential project located in Sugar Land, on U.S. 90 between Highway 6 and U.S. 59, southwest of Houston. The historic structures on the site will be redeveloped, including an eight-story char house that ... Read More »

Third Palm Capital Opens Major Energy Corridor Campus

HOUSTON – As the first phase of a major development, Third Palm Capital has engaged Boxer Property to repurpose and lease the existing office buildings on the former Exxon Mobil Chemical headquarters campus in Houston’s Energy Corridor. Christened Republic Square, the 35-acre project is located on Interstate 10, west of Eldridge Road adjacent to Terry Hershey Park. After purchasing the ... Read More »

Work Begins on 1.1 Million SF Hotel/Apartment Tower Near Medical Center

HOUSTON – Medistar Corp. has started construction on a 21-story, 353-room InterContinental Hotel and a Greystar apartment tower at 6750 Main St., across from the Texas Medical Center. Medistar, a Houston firm led by Monzer Hourani, is developing the project in partnership with TRC Capital Partners, which was formerly known as Redstone. PCCP LLC provided $73.1 million in construction financing. ... Read More »

Q&A with Alan Hassenflu: Redeveloping Exxon’s Brookhollow Campus, Baytown’s San Jacinto Mall and More

While Houston’s office sector remains in the doldrums, multifamily is struggling and has seen better days, retail remains hot.  One of the most active players – if not the most active player — in the Houston retail scene is Alan Hasssenflu. In a short span of time, Hassenflu has become one of the nation’s premier retail real estate developers. His firm, Fidelis ... Read More »

RNR’s Multifamily Magazine – National News Items

HOUSTON – The Retreat at Cypress Station, a 296-unit multifamily community in northwest Houston, has been purchased by GPI Cypress Station LP. The apartment community, 18200 Westfield Place Drive near Interstate 45 and FM 1960, was built in 2004. “The property is an outstanding value-add opportunity located within a high-visibility area of northwest Houston,” says Will Balthrope, of Institutional Property ... Read More »

Fidelis Planning Major Retail Center on Former Exxon Site Near Highway 290

HOUSTON – A major retail center development could be under construction as soon as next year on the site of the former Exxon Mobil Brookhollow campus near the intersection of Highway 290 and Loop 610 in Houston, says shopping center developer Alan Hassenflu, co-founder, managing principal and CEO of Houston-based Fidelis Realty Partners, Ltd.. The strategic 24-acre property – located ... Read More »

NW Houston: 200 MPH Bullet Train, a New Freeway Usher In Rapid Growth at US 290/Brookhollow

HOUSTON – Construction on Houston’s US 290 corridor is expected be completed by the end of next year, with some overpasses and connector ramps finished before 2017, according to a consultant involved with the Texas Department of Transportation (TxDOT’s) massive 38-mile project. Speaking at an event Tuesday organized by Bisnow – which calls itself North America’s largest platform for commercial ... Read More »

Pelli Reveals Design of First San Antonio Skyscraper in 30 Years

SAN ANTONIO – Weston Urban, the San Antonio-based real estate development firm, has revealed the design for the Frost Tower, the first skyscraper to be built in San Antonio in almost 30 years. Designed by renowned architecture firm Pelli Clarke Pelli, the tower’s groundbreaking is planned for winter 2016 and construction is scheduled for completion in late 2018. The Frost ... Read More »

Midyear Record: The First Half of 2016 was Best Start Ever for Houston Home Sales

HOUSTON – Houston’s single-family homes are selling at record pace through the first half of 2016, according to a midyear sales report by the Houston Association of Realtors. Through the first six months of the year, 36,393 homes were sold in the Houston area – the strongest beginning ever for a year of residential selling. It represented a 2.7 percent ... Read More »

Oil Price Crash Pushes Houston Office Market to Its Lowest Point in 20 Years

HOUSTON – Houston’s office market is at its worst point in 20 years. The supply of sublease space has soared as new buildings have been built with few or no tenants ready to move in. The availability rate (the amount of sublease space and the empty office space directly available from landlords) hit 19.8 percent in the second quarter, CBRE ... Read More »

Q&A: Master Park Designer James Burnett: Tearing Down the Pierce Elevated and Other Transformative Ideas for Houston

When James D. Burnett founded his landscape architecture practice, the Office of James Burnett (OJB), in 1989 the Houston-based firm had one part time employee.  Within 14 years, OJB boasted 14 employees and had opened a second office in San Diego. A decade later, the firm took its brand to Boston. Today, OJB employs nearly 60 professionals in its three ... Read More »

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