Monday , 21 August 2017
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Houston-Focused Miami Investor Buys Another Apartment Complex; Moving to Lake Charles Market

HOUSTON – Miami-based Advenir Inc., one of the the most active multifamily investors in southeast Texas, has acquired a project in Lake Charles, La. near the Texas/Louisiana border. A number of casinos are located in Lake Charles, which is a three-hour drive west of New Orleans and two hours east of Houston. Advenir bought the 224-unit The Charlestonian at Lake ... Read More »

A Rebound Sign? – Oilfield Equipment Manufacturer Leases More Space in North Houston

HOUSTON – Basintek LLC, a manufacturer of oilfield equipment, has renewed its existing lease and leased an additional 50,000 SF of industrial space at its manufacturing facility in north Houston near George Bush International Airport. The 200,000-SF deal is one of the largest industrial leases of 2017, reports NAI Partners. Nick Peterson and John Ferruzzo of NAI Partners represented Basintek, ... Read More »

Hines Selling Houston Multifamily Project on Café Adobe Site

  HOUSTON – Hines is selling its 21 Eleven apartment project near the southwest corner of Westheimer Road and South Shepherd Drive in Houston’s Inner Loop. Berkadia’s multifamily group, led by Ryan Epstein, will handle the sale of the 215-unit, five-story community, 2119 Westheimer at Peckham Street. Completed in March 2015 on the site of the old Café Adobe restaurant, ... Read More »

Two Multifamily Properties Sold

HOUSTON – Mosaic Residential, a Houston-based multifamily investment and management company, has acquired two apartment communities in Humble on the northeast side of Houston. Clint Duncan and Matt Phillips, senior vice presidents at CBRE, represented the seller, Gaia Real Estate. The portfolio consists of two value-add multifamily assets: Eagle Crest and Timberlakes at Atascocita. Eagle Crest is a two- and three-story, ... Read More »

Houston Worst; Dallas First in National Rankings of Office Space Absorption

HOUSTON and DALLAS – Houston has worst office absorption in the nation while Dallas has the best, according to a midyear report by Cushman & Wakefield. Houston had 1,565,381 million SF of negative net absorption in the first half of 2017, meaning a lot more office space became vacant as Houston energy companies continued to shrink. Meanwhile, Dallas/Fort Worth had ... Read More »

Houston Developer Starts Hotel/Condo Tower on the San Antonio River Walk

SAN ANTONIO – DC Partners, a Houston firm led by Roberto Contreras, is developing the Thompson San Antonio Hotel and The Arts Residences, a $116 million hotel and condominium project on the River Walk in downtown San Antonio. DC Partners has hired Jordan Foster Construction to build the 20-story tower, which will be constructed at the corner of North Saint ... Read More »

David Weekley to Build Townhomes in Hines’ Urban Mixed-Use Development in Jacksonville, Fla.

JACKSONVILLE, Fla. – David Weekley Homes will build 135 townhomes and detached single-family houses in Southside Quarter, a 105-acre mixed-use project being developed by Hines in Jacksonville. The homes will be part of Weekley’s Central Living brand. Central Living is the high-density division of David Weekley Homes offering residential options in prime locations and was first launched in Houston in ... Read More »

Hotel Investors Making Plays in San Antonio’s Hot Hotel Market

SAN ANTONIO – The San Antonio hotel market is demonstrating strong fundamentals that are attracting investors. “With Houston’s market still in decline, and the Austin and Dallas-Fort Worth markets flattening out due to large hotel room supply increase, San Antonio is becoming a more attractive destination in Texas for hotel investors. A very small new hotel room supply pipeline and ... Read More »

Transwestern Completes 23 MOD Pizza Leases

HOUSTON – Transwestern represented MOD Pizza in leasing six additional restaurant spaces in the Houston area. The new outlets will give MOD Pizza 23 locations in Greater Houston. Transwestern Senior Vice President Grant Walker and Vice President Chris Reyes serve as exclusive advisors for MOD Pizza in the Houston market and represented the fast-casual restaurant in the transactions. To date, ... Read More »

June 2017: The Best Month for Home Sales in the History of Houston Real Estate

HOUSTON – Home sales hit a record high in June as 8,414 single-family homes were sold, the highest monthly sales total ever recorded in Houston, the Houston Association of Realtors reported. “June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory,” said HAR Chair Cindy Hamann. ... Read More »

Houston Office Occupancy Hits Lowest Point Since 1999, NAI Reports

HOUSTON – The overall Houston office occupancy rate has dipped to its lowest point in more than 18 years, according to the NAI Partners commercial real estate firm. The woes of Houston’s office market stem from the retraction in the energy industry. Houston’s overall office slipped to 79.5 percent in the second quarter of 2017, the lowest point since NAI ... Read More »

“Outstanding Building of the Year” – One Shell Plaza Wins International BOMA Award

HOUSTON – One Shell Plaza, the first downtown skyscraper developed by Gerald D. Hines, has been awarded an International TOBY (The Outstanding Building of the Year) Award at the 2017 Building Owners and Managers Association (BOMA) International Conference & Expo in Nashville, Tenn. The 50-story tower, which is owned by Busycon Properties LLC, won in the “Renovated” category. The building, ... Read More »

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