Sunday , 25 June 2017
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Climbing Again? – Houston Multifamily Market Gained Traction in First Quarter

HOUSTON (By Dale King) – Apartment demand in the Houston metropolitan area increased in early 2017, a multifamily housing report says. In fact, residents leased a significant number of units, resulting in a net absorption gain of 4,916 apartments during the first three months of the year, exceeding the net of 4,423 units absorbed during all of 2016, according to Berkadia’s ... Read More »

Liberty Property Trust Taps Lee & Associates

HOUSTON – Lee & Associates – Houston will represent Liberty Property Trust on two of its properties located in the North and Northwest Houston regions. “We look forward to working and building a strong relationship with Liberty Property Trust,” said Ryan Searle, director of Lee & Associates – Houston. “Liberty has a large presence in the Houston market, and carries ... Read More »

Mixed-Use Project Proposed for Allen Parkway Site Near Downtown Houston

HOUSTON – Developer DC Partners and partner Tianqing Real Estate Development  have announced plans for a mixed-use development on Allen Parkway, just west of downtown Houston. The proposed $500 million development will have a condominium tower, hotel, office and retail space. The 6-acre site is across the street from the Federal Reserve Bank building on the south side of Buffalo ... Read More »

Realty News Report’s First Taste: Yauatcha Restaurant Is Worthy of Galleria’s “Jewel Box”

By Michelle Leigh Smith — Once again, move over Dallas. Houston has you beat with a world-class dim sum destination and tea house/restaurant with two bars. The concept, which originated along China’s Silk Road when weary travelers were offered tea, reaches a new level of quiet elegance. Inside Yauatcha, guests share amazing adn carefully curated teas. Fulfilling the vision and concepts ... Read More »

Houston’s Immigrants Highlighted in ULI Study: Some Immigrant Groups Outpacing Native-Born Population in Home Ownership

HOUSTON — (By Dale King) – The housing and neighborhood location choices of immigrants will have a significant impact on urban growth in the US for decades to come, particularly as more foreign-born residents seek to own homes in suburban communities, says new research from the Urban Land Institute’s Terwilliger Center for Housing. The data are contained in a report called ... Read More »

Class C Multifamily Purchased by PPA Group and Israeli Investors

HOUSTON – The PPA Group of Austin, in partnership with an Israeli investment group, has acquired the 236-unit Citation North Apartments on Highland Cross Drive in north Houston. Grandbridge Real Estate Capital facilitated the deal for the Class C project. Under its new ownership, the property will be renamed Highland Cross Apartments. “The current economic climate is driving a need for ... Read More »

Site Work Begins on Massive Amazon Project, Says Growth Hunter Chris Caudill

HOUSTON – (By Michelle Leigh Smith) – Land is being cleared for one of the Houston area’s biggest warehouses and job-growth projects so far in 2017 – the 1 million SF Amazon distribution center in Katy, says Chris Caudill of NAI Partners. For Amazon, it’s a place where 1,000 new employees will handle products and packages for distribution. For Caudill, ... Read More »

Parkway Finalizes $512 Million Greenway Plaza Deal

HOUSTON – Parkway Inc. has finalized the sale of a 49 percent stake in its Greenway office portfolio for $512 million or $210 per SF. Parkway sold off a stake in a 5 million-SF, 11-building office campus near Buffalo Speedway and the Southwest Freeway in Houston’s Inner Loop. It includes the 10-building Greenway Plaza development and the adjacent 630,000-SF Phoenix ... Read More »

Texas Leads the Nation in Warehouse and Retail Construction; No. 2 in Office

HOUSTON – (By Dale King) – Texas leads the nation in commercial development of warehouse, flex and retail real estate space, according to a study by the NAIOP commercial real estate organization. The Lone Star State comes in second for office development behind New York, and finishes Number 2 overall (ranking for all 50 states), slightly outdone again by the ... Read More »

Pair of Bellaire Office Buildings Sold

BELLAIRE, Texas  – CBRE Capital Markets arranged the sale of Bellaire Atrium I and II, a pair of  six-story office buildings on Loop 610 in Bellaire, near Fournace Street. SLS Properties purchased both office buildings, located at 5909 and 5959 West Loop South in Bellaire, Texas, from 5909-5959 Realty, Ltd., an entity affiliated with Braun Enterprises. The buildings contain a total of 152,304 ... Read More »

The ‘Green Shoots’ of Recovery Emerging in Houston Office Market, CBRE Says

HOUSTON – Houston office vacancy rate is high, but office construction is dwindling and the big supply of sublease space is gradually fading, according to CBRE. “The worst is behind us,” said Cody Armbrister, senior managing director of the Houston office of CBRE, at a press briefing Wednesday. The “early green shoots” of recovery are beginning to emerge, he said. ... Read More »

BLVD Place Mixed-Use Development in Uptown Houston Being Sold to Whitestone REIT

HOUSTON – Houston-based Whitestone REIT, a community-centered retail real estate investment trust (REIT) whose properties are primarily in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, is buying BLVD Place in Houston’s Uptown Houston area. Whitestone is purchasing the 216,944 square foot Class-A lifestyle center on Post Oak Boulevard — anchored by a Whole Foods — as well as 1.43 ... Read More »

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