Tuesday , 12 December 2017
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Permian Basin Trophy Towers For Sale

MIDLAND, Texas – (Realty News Report) – Two office properties, considered key trophy towers in the downtown Midland office market, are being marketed by Colliers International. The two properties, Fasken Center and Frost Bank Tower contain a total of 600,000 SF and have high occupancy rates. The West Texas city of Midland is located in the Permian Basin, home of ... Read More »

Amazon, Hurricane Harvey and a Fairy Tale That Probably Won’t Come True

HOUSTON – (Commentary by Ralph Bivins, Realty News Report) – Houston bleeds from Hurricane Harvey. Some 100,000 single-family homes were flooded along with 300,000 cars. Hundreds of merchants, small businesses and restaurants sustained heavy, possibly fatal, blows to their enterprises. Houstonians are no longer in the emergency room. So we wake up in the recovery room. We open our eyes ... Read More »

Canadian Pension Fund Buys $1.2 Billion Worth of Houston Office Space

HOUSTON — (Realty News Report) – Canada Pension Plan Investment Board has finalized its $1.2 billion purchase of Parkway Inc., one of the largest property owners in Houston. The Parkway portfolio totaled 8.7 million square feet of Houston office space including the 1.3 million SF Post Oak Central, the 627,000-SF Phoenix Tower in Houston, the 980,000-SF San Felipe Plaza, and ... Read More »

Condo King: Texas Racks Up $5 Billion in Condo and Townhome Sales

AUSTIN – (By Dale King, Realty News Report) — Condominium and townhome sales in Texas soared past $5.4 billion and posted strong gains in sales volume between August 2016 and July 2017, says a Texas condo sales report just released by the Texas Association of Realtors. During that period, the combined sales dollar volume of condos and townhomes sold in Texas was $5,411,886,686. Of that total, condo ... Read More »

TransCanada Moving Into Downtown Tower as Bank of America Moves Out

HOUSTON – The 56-story Bank of America Center is losing its namesake financial tenant. But the noteworthy tower is quickly finding other tenants for the 1.2 million SF skyscraper. TransCanada has signed a lease to expand its office space by 82,916 SF on three floors in the tower, 700 Louisiana. Now TransCanada, which acquired Columbia Pipeline Group in 2016, will occupy a ... Read More »

Costello Engineering Takes Chunk of Statoil Sublease Space in Westchase

HOUSTON  – (Realty News Report) – CBRE arranged a 35,000-SF long-term sublease on behalf of Costello Engineering at CityWestPlace in the Westchase submarket of Houston. The Houston-based engineering and surveying firm plans to relocate its 140 employees from 9990 Richmond in April 2018. The building was formerly a single-tenant corporate campus for Statoil, the Norwegian energy firm that had placed many ... Read More »

Banyan Equity Group Buys Seabrook Multifamily Community in SE Houston

SEABROOK, Texas – (Realty News Report) – An investment entity led by Shelley Hunt-Nichols of Banyan Equity Management has acquired the 216-unit Edgelake Apartments on the southeast side of Houston. Edgelake Apartments, built in 1984, are located at 3010 E. NASA Parkway and are 95 percent occupied. Clint Duncan and Matt Phillips of CBRE represented the seller, SEC Edgelake LLC ... Read More »

Boxer Property’s Andrew Segal May Have Sniffed Out a New Zone of Real Estate Opportunity

HOUSTON – (Realty News Report) – Boxer Property CEO Andrew Segal, a bellwether in Houston real estate investment, has made a play on the Pierce Elevated, a downtown freeway destined to be torn down. Boxer just purchased the 136,000-square-foot St. Joseph Professional building, which about 100 feet from the elevated freeway. TxDOT is planning to re-route the Pierce Elevated, which ... Read More »

Huge Rainwater Harvesting Cistern and Rooftop Park for New Houston Tower

HOUSTON – A 50,000-gallon rainwater harvesting cistern will be installed – along with  a green rooftop park – at the new Skanska skyscraper under construction in downtown Houston. The captured water will be used to sustain the 24,000-SF Sky Park at Capitol Tower, which will be located on the 12th story above street level. OJB Landscape Architecture designed the park, ... Read More »

Hines Sells 3 Million SF Portfolio in Northern Mexico

HOUSTON – (Realty News Report) – Hines, the Houston-based real estate firm, has sold a 2.9 million-SF portfolio of industrial and logistics properties in northern Mexico to Grupo IGS. The portfolio consists of 27 properties located in the northern markets of Mexico, including Monterrey, Ciudad Juarez, Matamoros, Reynosa and Torreon. Major tenants in the portfolio include: DalTile, General Electric, Yazaki, ... Read More »

Houston Putting Finishing Touches on Amazon HQ Bid

HOUSTON – Houston has not yet submitted its bid for Amazon’s second headquarters, a massive project that will result in 50,000 new jobs. But Houston economic development officials say an impressive package is being prepared. The deadline for submitting proposals is next week and cities across the country are scrambling to entice the retailing giant with incentives, tax breaks and ... Read More »

All-Time Record: September Home Rental Activity Up 86 Percent as Houstonians Seek Refuge From Hurricane Harvey

HOUSTON – (Realty News Report) – Houstonians leased a record number of single-family homes in September, as the Hurricane Harvey’s damages prompted an 86 percent increase in rental activity. With an estimated 70,000 homes suffering damage from the storm, many homeowners were left with no choice, but to seek shelter in rental housing. In the aftermath of the storm, which ... Read More »

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