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San Antonio Multifamily Firm Acquires 352 Units in Houston

HOUSTON – Valcap Group has acquired a 352-unit multifamily community in Katy, west of Houston in an off-market transaction, according to CBRE. The apartment property, The Remington Katy, now known as Luxe at Katy Apartments, is located at 22631 Colonial Parkway. Matt Phillips and Clint Duncan, both Senior Vice Presidents with CBRE in Houston, represented the seller, Conti Street Partners, ... Read More »

FedEx HQ in Plano Sold to Washington, D.C. Investor

DALLAS – The FedEx office headquarters at Legacy West in Plano, near Dallas, has been purchased by PRP Real Estate Investment Management of Washington, D.C. The seller, KDC Real Estate Developments & Investments, was represented by CBRE’s Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill. Completed in 2015 by KDC, the four-story, 263,621-SF office building ... 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 »

Hurricane Harvey Launched Houston’s Apartment Market Into an Immediate Turnaround

HOUSTON – (Realty News Report) – Hurricane Harvey accelerated multifamily absorption in Houston and drove a rise in rental rates, according to a new analysis by international real estate firm CBRE. “A quickly draining construction pipeline — with less than 7,700 units underway — and reduced inventory due to flooding is causing supply to tighten further while demand from displaced ... Read More »

Unwanted Top Ranking: Houston has Largest Sublease Supply in Nation, Reports CBRE Research

HOUSTON – Houston has the largest supply of sublease office space in the nation, according to a new report by CBRE Research. Houston had an 11.1 million SF of sublease space on the market at year-end. Boston ranked second with 4.8 million SF of sublease supply, followed by Manhattan at 3.8 million SF. The oversupply of sublease space, which is ... 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 »

Fein Refinances Houston Apartments for $92 Million, CBRE Reports

HOUSTON – CBRE Capital Markets’ Debt & Structured Finance team has secured a $92 million loan for the refinance of Willowick Park, a 552-unit apartment community in the Inner Loop of Houston. The apartments, recently developed by Houston-based Martin Fein Interests, are located west of Weslayan Street and south of West Alabama. The properties included in the transaction are: Aria ... Read More »

Brewery Expands into San Marcos

SAN MARCOS, Texas –Austin-based Hops & Grain Brewing is expanding outside of Austin to San Marcos, Texas. The five-year-old brewery has signed a 10,796-square-foot lease at Crossroads Center (110 East MLK Drive) to house a second production facility and tasting room. Bryan McMurrey and Sergio Negrete of CBRE represented the landlord, MLKSM, LLC, led by Mark Sheilds. Lance Tindall of ... Read More »

Law Firm Subleases Office Space in Downtown Houston

HOUSTON – The Thompson & Knight law firm has leased 70,000 SF of sublease space in the BG Group Place building at 811 Main in downtown Houston. BG Group is vacating the building, which was developed by Hines. CBRE’s Kevin Kushner, Charles Gordon and Lucian Bukowski represented Thompson & Knight in the lease transaction. “The opportunity to create a modern ... Read More »

CBRE’s Mark Taylor: Houston’s Pockets of Weakness and Sectors of Strength

HOUSTON – With an expanding supply of vacant office space, a contraction in the pool of clients needing space, an out of whack multifamily market and a cooling job market – at least compared to the previous few years — 2016 may be 12 months Houston real estate entrepreneurs would rather forget.  ‘But there’s always next year’ became the rallying ... Read More »

CBRE Moving Its Austin Offices to New Google Tower

AUSTIN – The CBRE firm is moving its Austin office to the new 500 West 2nd building, a 29-story downtown tower about a block north of Lady Bird Lake. The 500,000-SF tower, slated to open in 2017, will be anchored by Google. The new office is part of CBRE’s global “Workplace360” initiative, the company’s cutting-edge approach to workplace strategy “designed ... Read More »

CBRE: Houston Ranks Fourth in Green Buildings

HOUSTON – Houston ranks fourth in the nation, behind San Francisco, Chicago and Minneapolis, in the new third annual Green Building Adoption Index study by CBRE and Maastricht University. In the study, green office buildings are defined as those that hold either EPA Energy Star labels or LEED certification by the U.S. Green Building Council. Houston rose from fifth place ... Read More »

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