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The State of the Texas Hotel Market

 HOUSTON – (By Dale King, Realty News Report) – Many Houstonians who fled their Hurricane Harvey-flooded and otherwise damaged homes found shelter in a host of different places, among them – obviously – hotels. And many stayed there a good, long time. As a result, the overall Houston hotel market finished 2018 with a revenue per available room (RevPAR) loss ... Read More »

Oilfield Products Firm Leases 109,000 SF for Headquarters in Northwest Houston

HOUSTON – (Realty News Report) – Forum Energy Technologies has renewed its lease for 108,639 SF at 10344 Sam Houston Park Drive in Houston for its global headquarters. Transwestern’s  Doug Little and Louann Pereira provide leasing services for the landlord, Buchanan Street Partners. Sam Houston Crossing II is a 159,056-SF, Class A office building has frontage on Sam Houston Tollway ... Read More »

Dallas No. 1, While Other Texas Markets Strong in Real Estate Investment Potential

HOUSTON – (Realty News Report) – With Dallas-Fort Worth ranked No. 1 in the nation, Houston is a real estate market on the rise and “has it all” as cited in the investment market rankings of Emerging Trends in Real Estate 2019 by PwC and the Urban Land Institute. Houston posted No. 37 of 79 U.S. cities, which is a big improvement ... Read More »

Fiesta Mart Leases HQ Space; Corporate Merger Nears

HOUSTON – (Realty News Report) – Fiesta Mart LLC, a Houston-based grocery chain that is being acquired by Groupo Comercial Chedraui, has leased about 32,000 SF of headquarters office space near the Galleria. Fiesta Mart, which has 63 stores, has agreed to be sold to Chedraui, a Mexico-based retailer, for $300 million. Fiesta Mart LLC, represented by CBRE’s Rich Pancioli ... Read More »

Mosaic Buys Project in Off-Market Transaction

HOUSTON – (Realty News Report) – Houston-based Mosaic Residential purchased the The Club at Stablechase, a 148-unit multifamily complex located near Schroeder Road and Highway 249 in the Champions area of northwest Houston. The seller, CFH Investment Partners, was represented by CBRE’s Matt Phillips and Clint Duncan, in the off-market transaction. The Club at Stablechase, built in 1999, features one- ... Read More »

Sealy & Co. Buys Sam Houston Business Park

HOUSTON – (Realty News Report) — Sealy & Co. acquired the Sam Houston Business Park, a 262,631-SF, four-building project in northwest Houston. Tom Lynch & Heather McClain of CBRE represented the seller, the Levey Group. The business park, which is 100 percent leased, is located in the 8800 block of North Sam Houston Parkway West. “The acquisition of this trophy ... Read More »

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 »

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