Friday , 29 May 2015
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Rich Kinder Tells ULI: $100 Billion in Construction on Gulf Coast Over Next 10 Years

HOUSTON – Advancements and innovations in domestic energy production caused the world’s decline in oil prices over the last year, said Rich Kinder, chief executive of Kinder Morgan Inc., said at the opening session of the ULI’s Spring Meeting Wednesday. “We are the victims of our own success,” Kinder said, referring to hydraulic fracturing and drilling innovations that have greatly ... Read More »

NewQuest Developing First Louisiana Retail Project

SHREVEPORT, La. – Houston-based NewQuest Properties is developing a retail center in Shreveport – its first development in Louisiana. The new development, Camp Forbing Marketplace, will be anchored by a 120,000-square-foot Kroger Marketplace and a state-of-the-art YMCA facility. Camp Forbing Marketplace brings vibrant retail and restaurants to a previously unserved area of town, as well as a proposed two-story office building. The ... Read More »

Texas Property Tax Appraisal Methods Often Fail to Reflect Market Value

HOUSTON — The Harris County Appraisal District, and other agencies that appraise private properties for tax purposes, have increased property appraisals sharply using mass appraisal methodology that often fails to reflect actual market value for commercial properties, according to the Deal Sikes & Associates real estate valuation firm. “HCAD’s mass appraisals tend to be inconsistent and we often see a ... Read More »

TPG-Backed DTZ Acquiring Cushman & Wakefield to Create Commercial Realty Giant

NEW YORK –  DTZ, a commercial real estate services backed by the TPG private equity firm, has agreed to acquire Cushman & Wakefield for $2 billion, creating one of the world’s largest realty firms. The new company, which will operate under the Cushman & Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than ... Read More »

Investor Buys Project Near San Antonio

PLEASANTON, Texas —STL Retail Properties of Missouri purchased Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton, near San Antonio. Bryan Belk of Atlanta office of Franklin Street Real Estate Services represented the buyer in the $3.2 million transaction. “In a sale indicative of market trends, the buyer of Pleasanton Plaza was able to acquire a well-positioned retail center surrounded ... Read More »

Crow Fund Buys 27 Warehouses in Houston and Dallas

HOUSTON – A private fund advised by Crow Holdings Capital – Real Estate (CHC-RE) purchased a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in Houston and the Dallas-Fort Worth area. Holliday Fenoglio Fowler represented the seller, a partnership between Mayfield Properties, LP and AB Real Estate Group. HOUSTON ASSETS: The eight Houston facilities are located in the Northwest and ... Read More »

The Hotel That Invented “Elevator Music” will Reopen in Dallas

DALLAS – The 19-story Statler Hotel and Residences in downtown Dallas will be renovated and open in 2016 with Hilton’s Curio brand. Opening in 1956, the original Statler Hilton boasted many firsts for the hotel industry, including elevator music and custom 21″ Westinghouse TV sets in every room. The developer, Centurion American Development Group, plans 161 hotel rooms on the ... Read More »

New Office Project and Hotel Slated for Sugar Land

SUGAR LAND, Texas  – Planned Community Developers has acquired five-acre lakefront site in Sugar Land where the Houston-based firm will develop a Class A office building and a 134-room hotel. The site is in the Lake Pointe development near the prominent intersection of the Southwest Freeway and Highway 6, on the southwest side of Houston area. Planned Community Developers is ... Read More »

Spec Office to Break Ground One Mile From New Exxon Mobil Campus

HOUSTON – Archway Properties will break ground next month on an eight-story, 200,000-square-foot speculative office building approximately one mile north of ExxonMobil’s new campus. The building is the second phase of Wildwood Corporate Centre and it follows the completion of the Wildwood Corporate Centre I building in July. The campus is located on Wildwood Forest Drive, just off Interstate Highway 45. ... Read More »

Transwestern’s Cummins: 700 Units Sold in Houston; Indicates Good Multifamily Deal-Flow in 2015

HOUSTON – Transwestern’s Houston Multifamily Investment Sales Group completed the sale of four Houston multifamily properties totaling 704 units. Transwestern’s Ed Cummins, Tim Gregory, Guadalupe Olivares and Ryan Mendez represented the sellers. “Demand for apartment assets remains vibrant in the Houston market,” said Cummins, managing director. “With our team contracted to market an additional 800 units, we fully expect 2015 ... Read More »

Midway Office Project in Upper Kirby is 60 Percent Leased

HOUSTON — One Grove Street a 225,000-square-foot office building under construction in the Upper Kirby District, recently topped out and it has reached 60 percent occupancy. Scheduled to debut in fall 2015, the 16-story, Class A office building is nearing completion of its curtain wall. A project of Houston-based Midway, the tower fronts Richmond Avenue and Levy Park, the heart ... Read More »

Bulletproof: Despite Oil Crash, Texas Home Sales Surge in First Quarter; Inventory at All-Time Low

AUSTIN – The Texas residential markets remained immune to the drastic fall in oil prices, as the Lone Star State posted exceptionally strong home sales in the first quarter of 2015, the Texas Association of Realtors reported. The inventory of homes for sale fell to an all-time low. With oil falling from $107 a barrel last summer to less than ... Read More »

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