Tuesday , 24 October 2017
Breaking News

Aramco Building on West Loop to Be Leased by Lee & Associates

HOUSTON – Lee & Associates – Houston, a nationwide leader in commercial real estate services,  has been selected by Aramco Services Company,the U.S- based subsidiary of Saudi Aramco, to be the exclusive leasing agent of 9009 West Loop South, a 419,260-SF near the Bellaire community. Lee & Associates – Houston’s Lee Jeane, director, and Chris Lewis, managing principal, will lead ... Read More »

Colvill Office Properties to Handle Leasing of Beltway Lakes III

HOUSTON – Radler Enterprises has appointed Colvill Office Properties as its exclusive leasing agent at Beltway Lakes III, a Northwest Houston office building in the Beltway Lakes development located at the intersection of Beltway 8 and Highway 249. The nine-story, LEED Gold Certified office building features over 260,000 square feet of Class A office space. Brad Beasley and Cameron Colvill ... Read More »

Dallas Near Top of Worldwide Office Construction Boom

DALLAS – (By Dale King) – An “unprecedented office building boom” is now under way across the globe, with more than 700 million square feet of space now under construction; offices that should be completed by the end of 2019, reports Cushman & Wakefield’s Global Office Forecast. Dallas is at the forefront of the blitz. In fact, Big D “is projected ... Read More »

Houston’s Bullet Train Station Should Be in Downtown, Not Northwest Mall – Commentary

HOUSTON – (Commentary by Ralph Bivins) Houston is about to make a huge mistake with the development of its high-speed train to north Texas. The proposed Texas Central 200 mph rail line that will run from Houston to Dallas has a lot of good things about it. The train will be good for transit, good for the economy and it ... Read More »

The Silver Lining to Softness in the Energy Corridor Office Market

HOUSTON – The Energy Corridor office market in west Houston has struggled in recent years, following a decline in energy prices and industry layoffs. Vacancy is high and the supply of sublease space has soared. The softness in the office market has a silver lining for tenant companies. It’s a chance to lock-in affordable rent. Other companies are electing to ... Read More »

Major Lease at One Shell Plaza Opens the Door for Upgrade at GreenStreet

HOUSTON – NRG, an electric power company, is moving its Houston offices into 431,000 SF in the 910 Louisiana tower, a 50-story downtown tower that has been known for years as One Shell Plaza. NRG will be vacating its existing offices in GreenStreet mixed-use complex in downtown where NRG occupies about 250,000 SF of office space. The owners of GreenStreet ... Read More »

Porter Hedges Law Firm Elects to Stay in Downtown Houston

HOUSTON – Porter Hedges LLP, a Houston-based law firm, has renewed its 105,000-SF lease in the 1000 Main building in downtown Houston. CBRE’s Charles Gordon, Brandon Clarke, Paul Penland and Ryan Roth represented Porter Hedges in lease negotiations with the landlord, 1000 Main LLC, which was represented by Wade Bowlin with PM Realty Group. “It was imperative for us to ... Read More »

Lincoln Property/H.I.G. Group Buys 2 Million SF Greenspoint Place Complex

HOUSTON – An investment entity led by Lincoln Property Co. and H.I.G. Realty Partners has acquired Greenspoint Place, a six-building office complex in the beleaguered Greenspoint submarket, which has the highest office vacancy rate in the city. The 2 million SF Greenspoint Place property, which has three connecting retail centers, was purchased from Northwestern Mutual Life Insurance Co. The Greenspoint ... Read More »

22-Acre Portion of Greenspoint Mall with Old Macy’s Store Acquired for Development of Truck Stop

HOUSTON – A 22-acre portion of Greenspoint Mall, including the old Macy’s store, has been acquired for the development of a truck stop, reports Houston real estate broker Jim Mattox of Jim Mattox Properties. The 1.4 million SF Greenspoint Mall in north Houston suffered through the closure of a number of a number of stores, including Macy’s, which shut down ... Read More »

54,200 Jobs Created in Houston Economic Rebound, New Report Says

HOUSTON – The Houston area economy added 54,200 new jobs over the last year, one of the strongest job growth reports since job growth tailed off in 2015, according to the Texas Workforce Commission. The report covered a 12-month period ending July 31, 2017. Houston’s unemployment rate in July was 4.9 percent, down from 5.3 percent in June and 5.8 ... Read More »

Clay Starts Spec Building in Northwest Houston

HOUSTON – Clay Development & Construction has broken ground on the 293,280-SF Cutten Distribution Center I on 16.2 acres at 11833 Cutten Road in Northwest Houston. Jim Foreman, Beau Kaleel and Allison Bergmann of Cushman & Wakefield are handling sales and leasing for the spec building, which is south of West Greens Road. It is the fifteenth building in Cutten ... Read More »

New Mixed-Use Project in Plano Slated for 2 Million SF at Build-Out

PLANO, Texas – (By Dale King) — Construction of a 37-acre, mixed-use development, slated to include a vast expanse of retail along with a boutique hotel and three high-rise office towers, is scheduled to start in early 2018 on property in Plano owned by the same family since the 1800s. The center, to be named The Legacy at Spring Creek, ... Read More »

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