Friday , 19 January 2018
Breaking News

Houston Will Gain 45,000 Jobs in 2018, Predicts Economist Patrick Jankowski

HOUSTON – (By Michelle Leigh Smith, Realty News Report) – Patrick Jankowski, the Greater Houston Partnership’s Senior Vice President, Research and Regional Economist, says he’s cautiously optimistic about the Houston economy for 2018. “I’m more excited about 2018 than I was about 2017 – we were dealing with a loss of 28,900 energy jobs, a loss of one in every ... Read More »

Hurricane Harvey Victims May Get Some Relief from Amended Tax Returns

HOUSTON – (By Dale King, Realty News Report) – Just three months ago, first responders poured into the Houston area to render immediate aid to millions of people harmed, displaced, traumatized and left with ruined homes, businesses and lost belongings after Hurricane Harvey. The wave of wind and rain dumped 50-plus inches of water on a region that’s still dealing ... Read More »

Transwestern Completes 2 Million-SF Sale-Leaseback

TEMPE, Ariz. – (Realty News Report) –  A partnership of Transwestern Investment Group and JDM Partners LLC has acquired a 2 million-SF corporate campus near Phoenix in a sale-leaseback with State Farm Auto Insurance Co. The 20-acre office campus is located just east of Phoenix, between Arizona State University and Tempe Town Lake. The Arizona sale-leaseback is the third major ... Read More »

Charming Charlie to Close 100 Stores

HOUSTON – (Realty News Report) – Charming Charlie, a Houston-based retail chain, is expected to close about 100 of its 375 stores, according to news reports. The company recently announced plans reduce employee headcount at its Houston Corporate Support Center and Distribution Center. The firm also said it would shutter stores, but it did not specify the exact number of ... Read More »

Buyer Emerges for Houston’s 41-Story Marathon Oil Tower

HOUSTON – (Realty News Report) – A partnership of M-M Properties of Houston and Baupost Group of Boston is expected to purchase the 41-story Marathon Oil Tower on the northwestern side of Houston’s Galleria area, according to Real Estate Alert. With a $175 million offer, the partnership appears to be the top bidder for the 1.2 million-SF building. The seller, ... Read More »

Do Oil Prices Still Matter? Houston Real Estate Q&A with Rand Stephens of Avison Young

HOUSTON – (Realty News Report) – Houston’s real estate industry has had quite a year. During the struggle to recover from the impact of low oil prices, the real estate sector has been battered by Mother Nature in the form of Hurricane Harvey. What’s next? To gauge the health of Houston’s real estate market, Realty News Report talked with Rand Stephens, Managing ... Read More »

Chicago Investor Buys NW Houston Business Park

HOUSTON – (Realty News Report) – Brennan Investment Group of Chicago has acquired  Fairway Park, a five-building, 135,571-SF light industrial park in Houston. The business park, which is 84 percent occupied, has a mix of office and warehouse space. The buildings are located on Hempstead Highway and Fairway Park Drive. Since 2010, Brennan has acquired $3 billion in industrial real ... Read More »

Houston Retailer to Close Stores, Cut Employees at HQ

HOUSTON – Charming Charlie, a Houston-based retail chain, plans to close a number of underperforming stores and reduce employee headcount at its Houston Corporate Support Center and Distribution Center. “By reducing the size and scale of our operations, we have the opportunity to stabilize the business,” Interim CEO Lana Krauter said in a press release. “We are working closely with ... Read More »

Brookfield Acquires Houston Center for $875 Million; Major Redevelopment Planned

HOUSTON – (By Ralph Bivins, Realty News Report) – Brookfield Property Partners has finalized its acquisition Houston Center, a collection of four downtown skyscrapers and a 200,000-SF retail center. The $875 million sale of the 4.2 million SF Houston Center is one of the biggest real estate transactions ever completed in Houston. Brookfield is expected to spend heavily – well ... Read More »

PGIM/Hanover Buy 29-Story Apartment Tower

HOUSTON – A partnership of PGIM Real Estate and Hanover Co., a Houston-based multifamily firm acquired the 396-unit Mosaic at Hermann Park tower near the Texas Medical Center and Highway 288. The 29-story building has been rebranded as Hanover Hermann Park. The apartment building, is located near the Hermann Park Golf Course clubhouse and driving range at the corner of ... Read More »

Sales Up 127 Percent in Evolving Houston Sector

HOUSTON – (Realty News Report) – Warehouses are a hot item in Houston. Warehouse sales are up 127 percent year-to-date over the sales volume of 2016, according to a November report by NAI Partners. Houston is poised to break the $1 billion barrier soon. So far this year $984 million in industrial sales have been recorded. Institutional investors have accounted ... Read More »

Nature Preserves Should Be Created to Prevent Future Houston Flooding, Judge Emmett Says

HOUSTON – (By Michelle Leigh Smith, Realty News Report) – Harris County Judge Ed Emmett believes state and local officials need to accelerate flood control measures, by building a third reservoir and transforming some of the Katy Prairie west of town into a nature preserve. In his tenth annual State of the County Address sponsored by the Greater Houston Partnership, ... Read More »

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