Wednesday , 19 September 2018
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Austin Group Buys Multifamily in Alief

HOUSTON – (Realty News Report) – GVA Real Estate Group of Austin has acquired the 364-unit Huntington Glen apartment complex in the Alief area. HFF marketed the property on behalf of the seller, BH Equities/L5 Investments. Huntington Glen is located at 12023 Bissonnet near the intersection of S. Kirkwood Drive in the Alief submarket of southwest Houston.  Completed in 1983, ... Read More »

50 Million Square Feet Vacant in Houston: Worst Vacancy Rate in 30 Years, NAI Reports

HOUSTON – (By Ralph Bivins, Realty News Report) – The office vacancy rate in Houston hasn’t been this ugly in 30 years. And there is no miracle cure, no magic bullet that can bring a timely healing. Energy companies – the backbone of Houston office tenancy for almost a century – are not expanding. Many are shrinking. There will be ... Read More »

Megacenter: Chile, Peru and Now … FM 1960

HOUSTON – (Realty News Report) – A former Walmart is being redeveloped into a 236,000-SF Megacenter Willowbrook on FM 1960 near Willowbrook Mall. Megacenter is a subsidiary of Red Megacentro, which has over 40 locations in Chile, Peru, South Florida and Texas. The facility in northwest Houston will have a gym, flex space, office space, self storage and an auto ... Read More »

Job Growth is Back – Houston Adds a Whopping 94,600 Jobs

HOUSTON – (Realty News Report) – The Houston area added 94,600 new jobs in the 12-month period ending in June, one of the strongest job growth reports in years. More than 3.1 million people are now employed in the Houston area, according to the Texas Workforce Commission. The June job total represents a “significant jump” from the 81,200 jobs created ... Read More »

West Side Wisdom: Q&A with Vista’s Woody Mann Jr.

KATY, Texas – (Realty News Report) – “Go west young man” is advice often credited to newspaperman Horace Greeley. It was counsel Woody Mann, Jr. took to heart more than three decades ago when the budding real estate developer bought land in far west Houston/Katy area that would eventually become the wildly successful LaCenterra at Cinco Ranch. Mann, President of ... Read More »

Clay Developing Distribution Building in Cedar Port Business Park

HOUSTON – (Realty News Report) – Clay Development & Construction Inc., a Houston firm led by Robert Clay, is developing a 349,440-SF, rail-served distribution building in the Cedar Port Business Park on the east side of Houston. The site is just east of FM 1405, not far from the Post of Houston and Interstate 10. Both Union Pacific and Burlington ... Read More »

Three Self Storage Projects Sold

HOUSTON – (Realty News Report) – Bellomy & Co., a commercial real estate firm with offices in Austin and Houston, has handled the sale of three Houston-area self-storage facilities. The company announced the sale of Gleannloch Storage in Spring to an out-of-state operator. Made up of 601 units – some climate-controlled, others not, along with boat, RV and office warehouse ... Read More »

Hines Buys Charles Hurwitz Tract for New Grand National Development

HOUSTON – (Realty News Report) – Hines acquired 107 acres in northwest Houston for a mixed-use project with a 1.5 million SF of industrial space, a hotel and a retail center. Hines purchased the property, located at the southeast corner of the Sam Houston Tollway (Beltway 8) and Gessner Road from Maxxam Inc., a Houston-based firm led by noted investor Charles ... Read More »

The World Capital of Master Planned Communities: Q&A with David Jarvis

HOUSTON – (Realty News Report) – Houston is known as the world capital of space exploration, the world capital of air conditioning, the world capital of the international energy industry and the world capital of petroleum exploration. It might also be known as the world capital of Master Planned Communities (MPCs) — residential developments that include an unusual number of ... Read More »

500,000-SF Spec Warehouse Underway Between Austin and San Antonio

KYLE, Texas – (Realty News Report) – Majestic Realty Co. of Los Angeles has acquired a tract between Austin and San Antonio for a rare spec industrial project. Spec projects of this size are a rarity in the Austin-San Antonio corridor, says Marshall Davidson of Avison Young San Antonio. Davidson and Tate Hinkelman represented the seller of the 46-acre tract, Plum ... Read More »

Memorial Hermann Medical Building Sold in Texas Medical Center

HOUSTON – (Realty News Report) – LaSalle Property Fund has acquired the 28-story Memorial Hermann Medical Plaza in the Texas Medical Center. The seller, which opened the 510,000-SF property in 2007, is a partnership led by Mischer Healthcare, Memorial Hermann Health System and other investors. Scott Galloway, Colby Mueck and Rusty Tamlyn with HFF represented the sellers in the $405 ... Read More »

NEORig Expands Oil Rig Manufacturing Plant

CONROE, Texas – (Realty News Report) – NEORig, a manufacturer of land drilling rigs and oilfield products, has added 57,024 SF of assembly space at its 80-acre Conroe Business Park campus located at 100 North FM 3083 East. The expansion by KDW, a Houston-based design/build firm, doubles NEORig’s assembly space, part of the company’s 250,000 SF of manufacturing, finishing and ... Read More »

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