Monday , 27 March 2017
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High-Rise Apartment Tower to be Built in River Oaks Shopping Center

HOUSTON – Weingarten Realty Investors has announced plans for a  30-story residential high-rise in its River Oaks Shopping Center, which opened 80 years ago in what is now the Inner Loop of Houston. The 300-unit rental project, scheduled for 2018 groundbreaking and a 2021 completion, will be located the north side of West Gray at Driscoll Street, near the upscale ... Read More »

Did the Tide Just Turn in Houston’s Office Market? A $512M Deal May Mean Yes

HOUSTON – In a deal that may represent a turnaround milestone for Houston’s office market, Parkway Inc. has agreed to sell a 49 percent stake in its Greenway office portfolio for $512 million or $210 per SF. The deal represents one of the largest investments in years in Houston, which has been at the bottom of the menu for institutional-quality ... Read More »

Houston Office Leasing Diversified in 2016, CBRE Research Reports

HOUSTON – Houston’s energy companies accounted for only 18 percent of the office leasing activity in the city last year, a significant decline from historical levels, CBRE reports. But, in a demonstration of Houston’s diversified economy, companies in other industries stepped up and leased a large blocks of office space. Houston’s office occupier demand has diversified, reports CBRE. It’s not all about ... Read More »

Crescent Sells The Groves and Two Other Master Planned Communities

HOUSTON – Crescent Communities has sold The Groves, a 1,000-acre master-planned community in northeast Houston and two other Texas single-family communities to funds managed by Castlelake, L.P. of Minneapolis. The Charlotte-based Crescent sold 100 percent of its interests in The Groves in the northeast Houston suburb of Humble, Belterra in southwest Austin and Wildridge in the Dallas suburb of Oak ... Read More »

Today’s Office Market: Get Ready for Co-Working Space, Major Amenities and Going Long

HOUSTON – The “co-working” phenomenon is coming to the Houston office market in a big way, says Chip Colvill, president of Colvill Office Properties. Co-working operators, including WeWork, Tech-Space and Regus, have been examining the Houston office market and will take large chunks of space for co-working outlets. The office-sharing spaces appeal to start-up firms and Fortune 500 firms with ... Read More »

Canadian Home Builder Selects Houston Area for its Second U.S. Development

HOUSTON – Empire Communities, a Canadian home builder, is starting its second U.S. development – in the Woodforest project in southern Montgomery County. The company launched its U.S. activity last year with the 600-acre Dellrose community near the Grand Parkway in Cypress. Empire also plans to enter Austin and Dallas markets, said James Miller, president of the Empire’s Texas division. ... Read More »

Historic Texaco Building Re-Opens as The Star Apartments in Downtown Houston

HOUSTON – The 102-year-old Texaco building in downtown Houston has been redeveloped into a 286-unit residential rental tower called The Star. The 410,000-SF high-rise apartment tower, developed by Dallas-based Provident Realty Advisors, offers starting rents at $2,150. The Star, originally designed in Renaissance Revival style with Beaux-Arts accents, is located at 1111 Rusk on a block bounded by San Jacinto, ... Read More »

RigNet Leases 29,000 SF in Energy Corridor

HOUSTON – RigNet, a leading global provider of digital technology solutions, leased 28,808 SF of office space at Park Ten Plaza in Houston’s Energy Corridor. This transaction brings the 155,140-SF building to 83 percent leased. Brad Fricks, Senior Vice President at Stream Realty, represented the landlord, USAA Real Estate Co. RigNet was represented by Joe Peddie at Cushman and Wakefield. ... Read More »

Davis Holdings Buys Midtown Office Building

HOUSTON – Davis Holdings, L.P., an oil and gas, real estate investment firm, purchased a 100-percent leased, 33,000-SF  office building at 1500 McGowen Street in Houston’s Midtown district. JLL’s Louis Rosenthal negotiated terms of the deal on behalf of Davis Holdings. David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller, Skyland Lodge Tract, L.P. “Davis Holdings was attracted to the ... Read More »

Buchanan Street Partners Seeking More Acquisitions, After Buying Houston Office Building

HOUSTON – Duke Realty, a REIT based in Indianapolis, has sold Sam Houston Crossing II, a 160,000-SF office building at 10344 Sam Houston Parkway to Buchanan Street Partners. Duke has been selling off its office properties to focus on industrial real estate. The building, which is 100 percent leased, was purchased by Buchanan Street Partners, which is based in Newport ... Read More »

O’Malley Tells Houston’s Kinder Institute He’s “Open” to Another Presidential Bid in 2020

HOUSTON – (By Michelle Leigh Smith) – Former Maryland Governor Martin O’Malley, mentioned as a possible candidate for president in 2020,  was in Houston Wednesday offering Houstonians a close-up look at data-enhanced governing with a network of cities and universities. O’Malley spoke Wednesday night at the Kinder Institute Urban Research Forum in the Brown Auditorium of the Houston Museum of ... Read More »

49 Texas Warehouses Sold in $1 Billion Deal

HOUSTON – DRA Advisors of New York has paid $1 billion to acquire 49 Texas warehouses and other industrial properties from Cabot Properties of Boston. The 19.8 million SF portfolio includes 25 Houston buildings with a total of 1.7 million SF and 24 Dallas-area buildings with a total of 2.7 million SF. Cushman & Wakefield and Eastdil Secured represented the ... Read More »

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