Sunday , 24 June 2018
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Chicago Investor Buys 330 Multifamily Units

HOUSTON – (Realty News Report) – Waterton, a Chicago-based real estate investor and operator, has acquired Carrington at Barker Cypress, a 330-unit apartment community at 7202 Barker Cypress Road in Cypress, Texas – 25 miles northwest of downtown Houston. Houston’s apartment occupancy rose sharply last year following Hurricane Harvey flooding, which damaged 204,000 single-family and multifamily homes. “Houston as a ... Read More »

Real Estate Post-Harvey: Bellaire Regains Footing After 1,936 Houses Flooded

BELLAIRE, Texas – (By Michelle Leigh Smith for Realty News Report) – The City of Bellaire reports 1,936 of its 6,688 homes were flooded during Hurricane Harvey. For decades, home values have been strong in Bellaire, an independent well-located municipality that’s surrounded by the City of Houston. Over the years, thousands of Post World War II houses have been torn ... Read More »

Houston’s Oversupply of Sublease Space is Growing Again

HOUSTON – (Realty News Report) – Houston’s supply of sublease office space has been increasing again, wiping out some of the celebrated decreases in the overhang. Houston has 9.4 million SF of sublease space available, according to a recently released March report by NAI Partners. The sublease supply was less than 9 million SF at year-end – a short-lived positive ... Read More »

Griffin Partners Buys Loop Central Office Complex

HOUSTON – (Realty News Report) – The Loop Central office complex has been acquired by Griffin Partners. The seller was TIER REIT Inc., a Dallas-based real estate firm. The three-building office complex is located on the east side of Loop 610, just south of Westpark, near the city of Bellaire. The 575,000-SF project is about 84 percent leased. The REIT ... Read More »

Office-Warehouse Under Construction in Tomball

HOUSTON – (Realty News Report) – Dancing Falls Development LLC is developing a 42,000-SF office-warehouse project in Tomball on the northwest side of Houston. Proximity Commercial Advisors is leasing the development, 27905 Commercial Park Road in Tomball. Boatman Construction is building the project, which will consist of four 10,500-SF office-warehouse buildings. The project is expected to be delivered and fully ... Read More »

Transwestern’s Ridge Co. Buys 29 Acres for Spec Industrial Project

HOUSTON – (Realty News Report) – Ridge, the industrial development arm of Transwestern Development Co., has acquired 29 acres at the corner of Beltway 8 and Highway 90 in southwest Houston for a major industrial development. Ridge plans to break ground in May on a 477,355-SF speculative industrial project, with expected delivery in early 2019. Transwestern is leasing the project. ... Read More »

East Galveston Beach Property Set For Hotel, Condo Projects

GALVESTON – (Realty News Report) – An 11.6-acre tract on East Beach in Galveston is in-play as a possible mixed-use development with a hotel, condominiums and recreational uses. Some 2.4-acres of the property is teed-up with approvals in place to build a 160-room Residence Inn by Marriott, says Lisa Hankamer of Marcus & Millichap, which is marketing the site. The ... Read More »

Brompton Apartments Acquired

HOUSTON – (Realty News Report) – S2 Capital has acquired the 793-unit Brompton Court apartments at 7510 Brompton Road in Houston. JLL’s Capital Markets secured financing for the acquisition of the project. Voya Investment Management, LLC provided the loan for S2 Capital, an Addison, Texas-based firm led by Scott Everett. The seller was CMS Brompton Court, L.P. Managing Director Mark ... Read More »

Florida Investor Buys Houston Apartments Near Galleria

HOUSTON – (Realty News Report) – Florida-based Avesta Communities acquired the 426-unit Chateaux Dijon Apartments in an off-market transaction topping $45 million. The project is set on 10.8 acres at 5331 Beverly Hill St., within walking distance of the Galleria. Chateaux Dijon was 90 percent leased at sale time. The buyer’s broker, Glenn Dickerson of NewQuest Properties negotiated with the ... Read More »

Groupo Comercial Chedraui to Acquire Fiesta Mart for $300 Million

HOUSTON – Fiesta Mart, a Houston-based grocery chain with 63 stores, is being acquired by Groupo Comercial Chedraui, a Mexico-based retailer, for $300 million. Chedraui already has 60 grocery stores in California and other states operating under the El Super brand name. The addition of Fiesta Mart makes the chain a strong national force in selling groceries to the Spanish-speaking ... Read More »

Houston’s Hottest Spot for Land Deals? – Realty News Report’s Q&A with Veteran Land Broker Stan Creech

HOUSTON – (Realty News Report) – “Buy land, they’re not making any more of it,” Humorist Mark Twain once famously said. Houston real estate legend Stan Creech doesn’t necessarily buy land; he brokers it – to the tune of $2 billion during his more than 40 years in the real estate business. Since his graduation from the University of Texas law school in 1971, Creech specializes in the sale of ... Read More »

This H-E-B Won’t Flood: Grocer Shows Meyerland Residents the Plans For Two-Story Store at Meyerland Plaza

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – The Meyerland community lost more than homes when Hurricane Harvey hit Houston last year. It lost its H-E-B grocery. The H-E-B void will be filled in late 2019 when a new, elevated store is completed at Meyerland Plaza, at the corner of Loop 610 and Beechnut in southwest Houston. ... Read More »

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