Wednesday , 19 September 2018
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Hines Buying Museum District Apartments for $72.9 Million

HOUSTON – (Realty News Report) – Hines Global Income Trust has agreed to buy the 224-unit Venue Museum District apartments for $72.9 million or $325,400 per unit. The seller of the property, 5353 Fannin, is Grayco Lui Museum District Investment. The seven-story community is 89 percent leased. The deal, funded with $1.5 million in hard earnest money, is expected to ... Read More »

Houston’s Economy After Hurricane Harvey: Q&A with Dr. Jim Gaines of Texas A&M Real Estate Center

HOUSTON – (Realty News Report) – The numbers from Hurricane Harvey were staggering not only in the amount of precipitation and flooding but also in human suffering.  Even now, some ten months after Harvey’s devastation, the economic toll is still being tallied.  Has the city recovered form Harvey? Are jobs coming back?  Will the economy recover?  Realty News Report turned to Dr. Jim Gaines, chief economist at the Real Estate ... Read More »

Higher Oil Prices Heat Up Demand for Crane-Served Industrial Buildings in Houston

HOUSTON – (Realty News Report) – Oil prices have rebounded and that’s good news for the “crane-served” niche of the industrial real estate market, which – in Houston – caters to manufacturers focused on the energy industry. NAI Partners recently arranged the sale of a 110,000-SF manufacturing facility on 35 acres located at 1318 Bammel Road in Houston. The property ... Read More »

Houston Firm Buys Eagle Ford Shale Property

CUERO, Texas – OHS Resources, a Houston based firm that sells oil and gas drilling products, acquired a 336,000-SF industrial building in Cuero, a town in the Eagle Ford Shale region south of San Antonio. Jason Scholtz of Colliers International represented the seller, MV Cuero Partners. The property was formerly the Mt. Vernon Mills cotton weaving facility. “When we listed ... Read More »

Industrial Portfolio Sells for $148 Million

HOUSTON – (Realty News Report) – Exeter Property Group paid $148 million to acquire a 20-building, Class A, light industrial portfolio totaling 1.25 million SF in Dallas and Houston, Texas, and Charlotte, North Carolina. The HFF team marketed the property on behalf of the seller, Adler Real Estate Partners. The portfolio comprises Cardinal Park in Dallas; three properties in Houston, ... Read More »

Work Begins on Spec Industrial Project in Baytown

BAYTOWN, Texas – (Realty News Report) – Investment & Development Ventures LLC and Sealy Co. broke ground on Thompson 10 Logistics Center, a 390,000-SF speculative project on 26.9 acres in Baytown, east of Houston. CBRE’s Tom Lynch and Mark Redlingshafer represented IDV in acquiring the land and securing Sealy as an equity partner. The project is located at the intersection ... Read More »

Hurricane Harvey: One Year After – Synagogues In Meyerland Deal with Repair and Rebuild Questions

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – As the anniversary of the fierce hurricane that forced demolition of one of southwest Houston’s oldest synagogues approaches, the 300 congregants crowd into a social hall at 9001 Greenwillow for services, uncertain of the future. Many, like Max Reichenthal, President of Texas Iron and Metal, have been attending services ... Read More »

Hurricane Harvey: One Year After – Q&A with County Judge Ed Emmett

HOUSTON – (Realty News Report) – Hurricane Harvey made landfall on Aug. 25, 2017 and it plagued southeast Texas for days. Harris County Judge Ed Emmett, a visible leader during the storm, has spearheading the drive to help fix the flooding problem. The Commissioners Court has called a bond election for Aug. 25 for the Harris County Flood Control District. ... Read More »

WorkSuites Leases Space for Co-Working Facilities

HOUSTON – (Realty News Report) – WorkSuites, a new co-working brand formerly known as Meridian Business Centers, is expanding in Houston. WorkSuites leased 30,355 SF 5th floor at 2001 Timberloch Place in The Woodlands. WORKSUITES works with John Pelletier and Greg Burns of ESRP as its national brokers, and Dan Boyles and Michael Mannella of NAI Partners on the company’s ... Read More »

Sold: Hyatt Hotel in Houston’s Energy Corridor

HOUSTON – (Realty News Report) – The Hyatt House Houston Energy Corridor, a 116-room, extended stay hotel at 15405 Katy Freeway in west Houston has been sold, according to CBRE. Houston-based Energy Corridor Hotels LLC purchased the hotel from Florida-based Driftwood Hospitality for an undisclosed price. CBRE’s Michael Yu, Rahul Bijlani and Agrama Mannapperuma in conjunction with Ten-X Commercial, through ... Read More »

Hurricane Harvey – One Year After: Q&A with Shad Bogany, Former Chair of Houston Assn. of Realtors

HOUSTON – (Realty News Report) – Houston’s real estate world has changed dramatically since Hurricane Harvey visited Houston last year. The storm is tied with 2005’s Hurricane Katrina as the costliest tropical cyclone on record, inflicting an estimated $125 billion in damage — primarily from as much as 50 inches of rain. Harvey’s waters inundated more than 100,000 homes, displacing ... Read More »

Houston Strong: City has Gained 101,800 New Jobs in Last 12 Months

HOUSTON – (By Ralph Bivins, Realty News Report) – The Houston economy created 101,800 jobs in the 12-month period ending in July, the strongest job-growth pace in over three years, according to the Texas Workforce Commission. Construction jobs contributed 25,500 new jobs to the total. Repairs and construction related to the recovery from Hurricane Harvey, which struck Houston a year ... Read More »

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