Wednesday , 17 January 2018
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Hanover Starts 39-Story Apartment Tower on Kirby Drive

HOUSTON – (Realty News Report) – Construction started on Hanover River Oaks, a 39-story apartment project on a 1.6-acre site on Kirby Drive, according to HFF. HFF worked on behalf of the project’s developer, Houston-based Hanover Co. and institutional investors advised by J.P. Morgan Asset Management to capitalize the equity and construction financing for the development of the project. The 370-unit ... Read More »

Denver Project Sells for $339,527 Per Unit

DENVER – (Realty News Report) – Griffis Residential acquired The Huron, a newly delivered 296-unit apartment community in downtown Denver near Coors Field, according to ARA Newmark. Denver-based Griffis Residential, which has a portfolio of 8,000 units, purchased the property for $100.5 million or $339,527 per unit, ARA Newmark reported. The seller, Columbus, Ohio-based developer Edwards Cos., was represented by ... Read More »

Oregon Investor Buys Houston Multifamily Complex

HOUSTON – (Realty News Report) – Hayden Properties acquired the 216-unit Stoneleigh on Spring Cypress, a garden-style apartment community in the northwest Houston suburb of Spring. HFF marketed the property, 7215 Spring Cypress Road, on behalf of the seller, Seneca Investments. Completed in 2005, the property is 94 percent leased. Hayden, based in Lake Oswego, Ore., controls a portfolio of ... Read More »

Lionstone and Crescent Developing Mixed-Use Project in Denver

DENVER – (Realty News Report) – A partnership of Lionstone Investments and Crescent Real Estate is developing a spec mixed-use project near downtown Denver. The 152,000-SF project, called Platte Fifteen, will be built near the banks of the Platte River. The site is near the LoDo district, Coors Field and Denver’s Union Station. Lionstone is a Houston-based investment firm. Crescent, ... Read More »

Warehouse Boom: 3 Million SF Broke Ground in Fourth Quarter, CBRE Reports: Land at $196,000 Per Acre

HOUSTON – (Realty News Report) – Warehouses totaling more than 3.3 million SF broke ground in Houston in the fourth quarter of 2017, accentuating a trend for higher industrial land prices, according to CBRE. Many of the new industrial buildings are being constructed on a spec basis, CBRE said, although Hines and Arch-Con Construction are building 600,000 SF for Emser ... Read More »

Houston Office Market: Hurricane Behind; New Year Ahead: Q&A with Chris Lewis

Hurricane Harvey hit Houston four months ago. At the time, the storm was characterized as being extremely rough on residential real estate, but not very severe on the office market. But as the weeks rolled by, the sector saw evidence that the office market was not so bulletproof. Skanska’s new buildings in the Energy Corridor experienced problems and tenants such ... Read More »

H-E-B Announces New Two-Story Grocery at Meyerland Plaza

HOUSTON – (Realty News Report) – H-E-B has finalized an agreement with Fidelis Realty to develop a two-story grocery store at Meyerland Plaza, located along Loop 610 in Southwest Houston, the grocery company announced Thursday. The 95,000-SF project, first reported in October by Realty News Report, replaces another H-E-B at Chimney Rock and South Braeswood flooded in Hurricane Harvey and ... Read More »

Avera Acquires Southeast Acreage for Mixed-Use Land Development

HOUSTON – (Realty News Report) – Avera Companies, a Houston-based commercial real estate development, construction and investment firm has acquired 369 acres from PPG Industries, in a major land play on the southeast side of the Houston area. The site, one of the largest remaining parcels of land in the Port of Houston area, is comprised of two tracts. The ... Read More »

85 Percent Leased: Redo Pays Off for Galleria Office Building

HOUSTON – (Realty News Report) – Galleria Office Tower 1, a 25-story building in Houston’s Galleria, has reached 85 percent occupancy following a major renovation and the signing of two new leases, according to Colvill Office Properties. Colvill Office Properties handles leasing in the 493,456-SF tower, built in the early 1970s as an office component in The Galleria, the mixed-used ... Read More »

Crow’s New Spec Project Reports Strong Leasing

HOUSTON – (Realty News Report) – The new Stafford Grove Industrial Park, a 352,000-SF in Houston’s southwest market, has reached 85 percent occupancy. The spec project, completed in January 2017, is owned by Crow Holdings Industrial. Notable tenants that have signed leases at Stafford Grove include Jackson Supply, Tire Centers, Mester Lighting Corporation, Matrix Metals, QRC Valve Distributors, Chaoda Supply ... Read More »

The Coming Collision: Driverless Cars and Commercial Real Estate

HOUSTON – (By Dale King, Realty News Report) – Driverless cars of the future are on a collision course with office buildings, warehouses and shopping centers. In a newly released study called “The New Industry Driver: How the Rise of Autonomous Vehicles Could Impact Future Real Estate Strategy,” researchers at Houston-based real estate firm Transwestern contend the snowballing potential of ... Read More »

Houston Home Sales Move Past Hurricane Setback as Market Achieves Best November Ever

HOUSTON – (Realty News Report) – Houston home sales remained strong in November as the market shrugged off the shock of Hurricane Harvey and recorded the best November in Houston real estate history. The Houston Association of Realtors reported 6,184 single-family home sales in November, up 7.4 percent over November of 2016. Despite the hurricane, which damaged over 100,000 homes ... Read More »

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