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Dallas Investors Buy 1,516 Apartment Units in Houston

HOUSTON – ARA Newmark handled the sale of a portfolio of four Houston multifamily communities with a total of 1,516 units. ARA Vice Chairman Matthew Rotan led the deal – representing CBRE Global Investors in the sale to affiliates of Highland Capital Management, LP and BH Equities – with support from David Oelfke, David Wylie, David Mitchell and Thomas Alleman. ... Read More »

Play Ball! New Astros’ Florida Home Stadium Ready for Maiden Voyage on Tuesday

WEST PALM BEACH, Fla. (By Dale King) – The crack of cowhide-covered balls hitting wood bats, the thunk of speeding spheres smacking leather mitts and the cry of “Play Ball” are heralding the resurgence of Major League Baseball in central Palm Beach County, and the Houston Astros have a piece of that action. The team from Texas marks its 65th ... Read More »

Reimagining the Urban Oasis: The New Heights of Public/Private Partnership Blossoms at Levy Park

HOUSTON – (By Michelle Leigh Smith) The reborn Levy Park – a public private partnership unlike any other in Houston – celebrates its grand opening Saturday with a substantial roster of creating participants cutting the ribbon. The participants: celebrity TV chef Tim Love; noted landscape architect James Burnett; mixed-use development specialist Midway Cos., Natalye Appel + Associates Architects; and the ... Read More »

Williamsburg Enterprises Buys Grocery-Anchored Center Near Texas Medical Center

HOUSTON  – Williamsburg Enterprises Limited of Houston has acquired the Renaissance Center, a 97,279-SF, value-add, grocery-anchored retail center east of the Texas Medical Center in Houston. HFF marketed the property on behalf of the seller, Lionstone Investments. Renaissance Center is anchored by H.E.B, one of the largest independent food retailers in the U.S. and the premier grocer in Texas.  Completed ... Read More »

Transwestern Sells 1,600 Units in North Texas

DALLAS – Transwestern’s Dallas-based Multifamily Investment Services Group has closed transactions on 1,600 units valued at $85 million in North Texas. Transwestern Principal Taylor Snoddy and Vice Presidents Philip Wiegand and James Roberts represented the sellers and also sourced the buyers on the transactions, which closed in the last weeks of the year. “These transactions represented a wide range of ... Read More »

Energy Group Leases Space in the Tallest Tower in Texas

HOUSTON – An energy organization signed a large lease in the tallest tower in Texas – the 75-story JPMorgan Chase Tower in downtown Houston. Indigo Resources Inc. and its sister company, M5 Midstream LLC, leased 67,710-SF in the tower, which was developed by Hines at 600 Travis. Savills Studley executive vice president and co-branch manager Mark Russell represented the tenants. ... Read More »

High-Rise Apartment Tower to be Built in River Oaks Shopping Center

HOUSTON – Weingarten Realty Investors has announced plans for a  30-story residential high-rise in its River Oaks Shopping Center, which opened 80 years ago in what is now the Inner Loop of Houston. The 300-unit rental project, scheduled for 2018 groundbreaking and a 2021 completion, will be located the north side of West Gray at Driscoll Street, near the upscale ... Read More »

Did the Tide Just Turn in Houston’s Office Market? A $512M Deal May Mean Yes

HOUSTON – In a deal that may represent a turnaround milestone for Houston’s office market, Parkway Inc. has agreed to sell a 49 percent stake in its Greenway office portfolio for $512 million or $210 per SF. The deal represents one of the largest investments in years in Houston, which has been at the bottom of the menu for institutional-quality ... Read More »

Houston Office Leasing Diversified in 2016, CBRE Research Reports

HOUSTON – Houston’s energy companies accounted for only 18 percent of the office leasing activity in the city last year, a significant decline from historical levels, CBRE reports. But, in a demonstration of Houston’s diversified economy, companies in other industries stepped up and leased a large blocks of office space. Houston’s office occupier demand has diversified, reports CBRE. It’s not all about ... Read More »

Crescent Sells The Groves and Two Other Master Planned Communities

HOUSTON – Crescent Communities has sold The Groves, a 1,000-acre master-planned community in northeast Houston and two other Texas single-family communities to funds managed by Castlelake, L.P. of Minneapolis. The Charlotte-based Crescent sold 100 percent of its interests in The Groves in the northeast Houston suburb of Humble, Belterra in southwest Austin and Wildridge in the Dallas suburb of Oak ... Read More »

Today’s Office Market: Get Ready for Co-Working Space, Major Amenities and Going Long

HOUSTON – The “co-working” phenomenon is coming to the Houston office market in a big way, says Chip Colvill, president of Colvill Office Properties. Co-working operators, including WeWork, Tech-Space and Regus, have been examining the Houston office market and will take large chunks of space for co-working outlets. The office-sharing spaces appeal to start-up firms and Fortune 500 firms with ... Read More »

Canadian Home Builder Selects Houston Area for its Second U.S. Development

HOUSTON – Empire Communities, a Canadian home builder, is starting its second U.S. development – in the Woodforest project in southern Montgomery County. The company launched its U.S. activity last year with the 600-acre Dellrose community near the Grand Parkway in Cypress. Empire also plans to enter Austin and Dallas markets, said James Miller, president of the Empire’s Texas division. ... Read More »

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