Tuesday , 22 May 2018
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Houston, Get Ready for More Office Construction

HOUSTON – (Realty News Report) – Another new office project is being introduced into the Houston market. Clay Development and Construction, a Houston firm led by Robert Clay, has announced a 150,000-SF office project on North Post Oak Road, not far from Northwest Mall. The development is not large and it won’t be constructed in a single phase so it ... Read More »

Rice Creating Innovation District in Midtown Houston Around 1939-Vintage Sears Store

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – Rice University has launched a redevelopment of the old Sears store property in Midtown, to create an innovation district attracting technology startups, entrepreneurs and venture capital. Rice owns 9.4 acres at the Midtown site, including the four-story Sears building, 4201 Main St., a Fiesta store and surface parking lots ... Read More »

New 277,000-SF Biotech Building in Pearland is Sold – World’s Largest Cell and Gene Therapy Manufacturing Facility

HOUSTON – (Realty News Report) – Zeller Realty Group has acquired the new Lonza Viral Therapy Facility, a, 276,770-SF biotechnology building on Kirby Drive in Pearland, south of Houston. HFF represented the seller, Pinchal & Co.  Additionally, HFF worked on behalf of Zeller, a Chicago-based investment and development firm to secure an acquisition loan through Bank of Texas. The facility ... Read More »

New Hope Housing’s New Building: Transit-Oriented Haven in East End

HOUSTON — (By Dale King, Realty News Report) — New Hope Housing’s latest entry in Houston’s single room occupancy (SRO) apartment community is a sight to behold. Inside are bright, white-walled units with modern fixtures, comfortable furnishings and fine accouterments. Specialty areas include a library, community room and social service location. An elegant canopy surrounds the bright courtyard. Out front, ... Read More »

Restaurant Coming to New Downtown Apartment Tower

HOUSTON – (Realty News Report) – Houston entrepreneur Charles Lusk, in partnership with restaurateur Sean Marshall, leased 1,500 SF in the 40-story Market Square Tower apartment building for a new restaurant called Coterie. The 463-unit apartment building, 777 Preston, is known for its glass-bottomed swimming pool that hangs over the edge of the building. “We’re two guys at the top ... Read More »

Hines Buys Office Tower in Downtown Calgary for Redevelopment

CALGARY, ALBERTA, CANADA – (Realty News Report ) – Houston-based Hines, in partnership with an Oaktree Capital Management fund has acquired a 27-story office tower in Calgary. The 708,000-SF Class B office building, called First Tower, is located in the Downtown East submarket of Calgary on First Street.  First Tower is 51 percent leased to a roster of notable tenants ... Read More »

Houston Home Sales Up 2.8 Percent in First Quarter

HOUSTON — (Realty News Report) — Houston home sales were up 2.8 percent in the first quarter of 2018, compared to a year earlier, according to the Houston Association of Realtors. The year’s fast start it impressive because it represents a gain over the record sales recorded 2017, the best year ever for home sales in Houston. Home sales in ... Read More »

1,568 Acres Purchased by Xu Qing

HOUSTON – (Realty News Report) – A 1,568-acre land tract four miles west of the Grand Parkway has been sold to Xu Qing LLC. The property has potential for development as a master planned community. The site is just west of the Elyson community by Newland Communities and not far from the 11,000-acre Bridgeland by Howard Hughes Corp. The site ... Read More »

SOLD: The Biggest Contiguous Block of Space in Dallas

DALLAS – (Realty News Report) – Taconic Capital Advisors L.P. of New York acquired International Plaza I & II, a 757,000 SF twin-tower campus on the Dallas North Tollway. Designed by HKS Inc., the International Plaza I & II towers were developed in 1999 and 2002. The buildings had been occupied by JPMorgan Chase and Fannie Mae. Both companies recently ... Read More »

Houston Office Vacancy Hits Highest Point Since 1995, CBRE Reports

HOUSTON – (Realty News Report) – Houston’s office vacancy rate has reached 17.8 percent – its highest point since 1995, according to the CBRE real estate firm. A year ago, Houston’s overall vacancy was 16.8 percent, CBRE reported. Energy companies continue to shrink their offices, even though oil is now back above $60 a barrel. Houston’s office market recorded 418,000 ... Read More »

The Structural Integrity of Addicks and Barker Dams is Unknown, New Flood Report Says

HOUSTON – (Realty News Report) – The structural integrity of the aging Addicks and Barker dams, built to protect a large portion of Houston from flooding, is uncertain and should be the subject of a transparent investigation, according to a new research report by Greater Houston Flood Mitigation Consortium. “Data indicate that if either the Addicks dam or the Barker ... Read More »

Fiesta Mart Leases HQ Space; Corporate Merger Nears

HOUSTON – (Realty News Report) – Fiesta Mart LLC, a Houston-based grocery chain that is being acquired by Groupo Comercial Chedraui, has leased about 32,000 SF of headquarters office space near the Galleria. Fiesta Mart, which has 63 stores, has agreed to be sold to Chedraui, a Mexico-based retailer, for $300 million. Fiesta Mart LLC, represented by CBRE’s Rich Pancioli ... Read More »

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