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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 »

Greenspoint Retail Center Sells for $15 Million

HOUSTON – CBRE handled the sale of West Road Collection, a neighborhood shopping center the Greenspoint area of north Houston to Hass Holdings LLC for $15 million. The deal commanded one of the highest prices per square foot in the area, signifying the great demand for retail space in this part of the country. CBRE’s Richard Rizika represented the seller, ... Read More »

Spire to Sell Chase Tower in Austin for Anticipated $200 Million

AUSTIN – Dallas-based Spire Realty has retained CBRE to sell its 390,000-SF Chase Tower in downtown Austin. The tower, which is 99 percent leased, could attract offers of more than $200 million or about $514 per SF, according to Real Estate Alert. The 22-story building, located on West 6th Street, houses the Headliners Club on the 21st floor. Spire acquired ... Read More »

CBRE: Warehouse Construction Completions Huge in Third Quarter

HOUSTON – CBRE reports 6.4 million SF of industrial space was delivered in the third quarter and a significant amount remains under construction. Some 7.5 million SF of industrial space is currently in development, with 4.4 million SF of the construction activity centered in the Southeast Houston submarket. Even with the addition of the new space, the vacancy rate remains ... Read More »

CBRE: Record High Occupancy in Houston Retail Centers

HOUSTON – The market for retail center real estate is strong in Houston, with high occupancy rates and a brisk pace of leasing up new space, according to the CBRE Research. “The trend of record high occupancy continues across Houston; the average occupancy increased to 94.3 percent in the third quarter of 2016. Occupancy levels will remain at this level due to ... Read More »

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