Tuesday , 16 January 2018
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Rethinking Downtown: Realty News Report’s Q&A with Bob Eury of Central Houston

HOUSTON – (Realty News Report) – What will Downtown Houston look like in 20 years?  It should have an Innovation District, a Green Loop – a five-mile pedestrian and bike circuit connecting downtown with adjoining neighborhoods — driverless cars and no traffic lights or street signs. That’s according to Plan Downtown: Converging Culture, Lifestyle & Commerce, which was unveiled earlier this month. One of the key recommendations is rethinking ... Read More »

Jeronimo Hirschfeld Sells 882 Apartment Units for $60 Million

HOUSTON – One Real Estate Investment, a Miami-based firm led by Jeronimo Hirschfeld, has sold two Houston multifamily properties with 882 units for more than $60 million. Dallas-based S2 Capital, LLC. purchased the 432-unit Avalon at Royal Oaks 2310 Crescent Park Drive and the 446-unit Village at Uvalde, 250 Uvalde Road. “One Real Estate continues to be committed to the Houston market. ... Read More »

Prudential Unit Buys LaCenterra at Cinco Ranch

HOUSTON – (Realty News Report) – PGIM Real Estate, part of Prudential Financial, has acquired LaCenterra at Cinco Ranch, a 412,900-SF mixed-use lifestyle center on 34 acres near the Grand Parkway, on the west side of Houston. The developers selling the property – Vista Cos. of Houston and Denver-based Amstar Group were represented by Eastdil Secured. The center includes 273,522 ... Read More »

Jankowski: Hurricane Delayed Houston’s Economic Recovery; It Didn’t Kill It

HOUSTON – (Realty News Report) -Hurricane Harvey did not derail Houston’s economic recovery; the storm merely delayed the city’s rebound a few months, according to a leading Texas economist. “Hurricane Harvey had little impact on Houston’s business structure,” continued Patrick Jankowski, CCR, senior vice president research and regional economist for the Greater Houston Partnership.  “Harvey hit the recovery reset button, ... Read More »

Building Green: Hines New Office Tower to Be Framed with Wood, Not Steel

CHICAGO – (Realty News Report) – Instead of framing its next Chicago office building with the typical steel, Hines will build the structure with wood – the first wood-structured office building developed in Chicago since the 1800s. The six-story, heavy-timber building will be called T3 Goose Island. “The environmental benefit of using wood on T3 is the equivalent to taking ... Read More »

Anadarko to Build Regional Headquarters in Midland

MIDLAND, Texas – (Realty News Report) – Anadarko Petroleum Corp. will build a regional headquarters in Midland and become the first anchor tenant in the Westridge Commons mixed-use development, a joint venture between Continuum Partners and KKR. The 38-acre Westridge Commons, located adjacent to the regional headquarters of Chevon and Occidental Petroleum, will include retail and multifamily. “We are thrilled ... Read More »

O’Connor: The Fastest Way for Hurricane Victims to Get Federal Refund

HOUSTON – O’Connor, a Houston-based tax consulting firm led by Patrick O’Connor, has launched a Federal Tax Refund Program to help home and business owners navigate the options for additional aid in recovery from hurricane season. “The Federal Tax Refund Program is certainly the fastest way for Texans to get a meaningful amount of cash,” said Patrick O’Connor, president, O’Connor. ... Read More »

Houston Home Sales Big; Inventory Too Small

HOUSTON – Houston home sales rose in October as the Houston residential market churned through the aftermath of Hurricane Harvey and recovered from the 50 inches of rain it dumped on the city. The Houston Association of Realtors reported 6,381 single-family homes were sold in October, up 7.5 percent from the 5,934 homes sold in October 2016. Sales remain on ... Read More »

New H-E-B Store: $93 Million Refinancing of Meyerland Plaza Could Help to Facilitate New Grocery

HOUSTON – (Realty News Report) – Meyerland Plaza, in a move that could help to pave the way for constructing a two-story H-E-B grocery store, has been refinanced for $93 million. H-E-B Grocery Co. has been searching for a new location in southwest Houston following Hurricane Harvey, which knocked out its South Braeswood store for good. Meyerland Plaza, a 950,000-SF ... Read More »

Best Buy Building Major Distribution Center in Houston

MISSOURI CITY, Texas – Retailer Best Buy will build a 550,000-SF delivery distribution center near Highway 90 in Missouri City on the southwest side of Houston. Best Buy plans to open the distribution center prior to the 2018 holiday shopping season. The facility will distribute large items — including products ranging from major appliances to large televisions — to nearly ... Read More »

Turner Fund (With Backing From Actress Eva Longoria) Buys Houston Apartment Complex

HOUSTON – A fund organized by Turner Impact Capital of Los Angeles has acquired the 314-unit Bridges of Cypress Creek apartments in north Houston on Red Oak Drive, west of Interstate 45. The complex, built in 1980, is six miles northwest of Bush Airport. The Turner fund, designed to address the nation’s shortage of affordable housing, has the backing of ... Read More »

Co-Working Firm Leases Space in Midway’s Kirby Grove

HOUSTON – Spaces, an Amsterdam-based creative workspace company, has leased 25,000 SF in Midway’s Kirby Grove development for its first co-working location in Houston. Spaces describes its locations as “a creative working environment for the corporate shaker, freelancer, energetic entrepreneur, international worker, mobile worker, start-ups and well-established companies.” Expected to open in Spring 2018, Spaces will occupy the entire sixth ... Read More »

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