Tuesday , 23 May 2017
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Portico and Crossbeam Launch Multifamily Joint Venture

HOUSTON – Portico Property Management, a property management firm headquartered in Houston, and Crossbeam Capital, a multifamily real estate investment firm with offices in Houston, Denver and Dallas, have launched a joint venture that will include more than 6,200 multifamily units across six states. Additionally, the companies will merge back-end operations and support services that will create ease of use ... Read More »

ULI Marketplace: Reknitting the Urban Fabric and Making Houston a 24-Hour City

HOUSTON – (By Cynthia Lescalleet) – A thriving urban core needs development mindful of the traditional, diverse neighborhoods in and near it, said Mark Falcone, founder and CEO of Continuum Partners, based in Denver. As keynote speaker at Urban Land Institute’s Urban Marketplace 2017, held April 13 at the Marriott Marquis Houston, Falcone covered the dynamics and challenges affecting cities as ... Read More »

Record Home Sales: Best March Ever in Houston Real Estate History

HOUSTON – March was the strongest March ever for home sales in Houston’s real estate history, according to the Houston Association of Realtors. The 7,013 single-family home sales recorded in March were up 11.7 percent from the 6,278 homes sold in March 2017, the Realtors Association said. “February and March were two incredibly busy months,” said Houston residential broker Amy ... Read More »

Skanska Announces Construction has Started on Downtown Skyscraper with Bank of America as Anchor

HOUSTON- Skanska announced Wednesday that it has started construction on Capitol Tower, a 35-story office development in downtown Houston, after reaching a lease agreement with Bank of America. Bank of America leased 210,000 SF and it expects to move into the new building in first half of 2019. JLL represented Bank of America. Warren Savery, Kristen Rabel and Rima Soroka ... Read More »

Texas Leads the Hit Parade of Adaptive Re-Use as Strong Demand for “Creative Office Space” Transforms Historic Structures

HOUSTON – (By Dale King) – Creative office projects – which typically encompass the conversion of a property from non-office use (i.e., industrial or retail) to office space – are generating big dollars for investors, says a report by Transwestern, a global real estate firm based in Houston. The study examines 30 developments across the nation, 10 finished, and the ... Read More »

Houston Office Market Slides as Vacancy Hits Highest Mark in 22 Years as Negative Absorption Prevails

HOUSTON – The vacancy rose sharply in the first quarter while the Houston office market recorded 789,000 SF of negative net absorption, according to the NAI Partners real estate firm. In layman’s terms, this means more office space became vacant since the beginning of the year. This stumble occurred even though a lot of folks believed the worst was over. ... Read More »

Dallas Multifamily Firm Launches Houston Buying Spree

HOUSTON – Dallas-based Performance Properties has kicked off a quest to acquire Houston multifamily properties with the recent purchase of the 300-unit Timberwalk Apartments in northwest Houston. Performance Properties principals Todd White and David McQuaid stated their goal is to buy 1,500 units in Houston in 2017. Located on 10.2 acres, Performance Properties’ Houston project, 5635 Timber Creek Place Drive, ... Read More »

Want a Screwhorn Antelope? A Camel? 15 Lakes? Houston-Area Zoo Can Be Yours for Only $7 Million

  ALVIN, Texas – (By Dale King)  – Singer/songwriter Paul Simon once vocalized: “Someone told me it’s all happening at the zoo.” Actually, something unique is happening at the Bayou Wildlife Zoo in Alvin, Texas, a town in Galveston County about 20 miles south of Houston. The 80-acre parkland that houses 500 exotic birds and animals and draws more than 90,000 ... Read More »

Big Redo Underway at 5718 Westheimer Tower

HOUSTON – UBS Financial Services has launched a $10 million renovation of the 22-story 5718 Westheimer building in the Galleria area. The 500,000-SF building, located on the north side of Westheimer at Bering Drive, was originally developed by Alfanco Inc. UBS is creating a two-acre green space adjacent to the building providing tenants with a pleasant outdoor environment. “The adjacent ... Read More »

With Foundation Already Poured, New Skanska Skyscraper Will Zoom Onto Houston Skyline in Record Time

HOUSTON – Skanska USA’s Capitol Tower will make its appearance on Houston’s downtown skyline in record time, perhaps with building being completed before the start of 2019. Work appears to be starting now on the 35-story, 750,000-SF tower. Construction cranes have been erected, a sure sign Skanska is serious. Typically, a 35-story office tower will take two years to complete. ... Read More »

HFF: Developers from Around the Nation Will Pursue Prime 30-Acre Chevron Campus in Bellaire

BELLAIRE, Texas – Chevron’s 30.5-acre tract along Loop 610 in Bellaire will attract interest from significant developers from around the nation, according to the HFF real estate firm, which was recently retained to handle the disposition of the prime site near Houston’s Inner Loop. The Bellaire City Council voted Monday night to adopt planning language that could pave the way ... Read More »

With Google, Facebook and 6 Million SF Under Construction, Downtown Austin is Hot: Q&A with Mike Kennedy of Avison Young

Austin’s commercial real estate, driven by corporate relocations and high technology expansions, the market is among the strongest in the Lone Star State. The city’s economy remains robust, with18,800 new jobs over the past twelve months ending December, 2016. Those numbers are reflected in the increased real estate activity. New downtown office tenants include Google and Facebook. One of the largest developments under construction is the ... Read More »

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