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Tag Archives: Energy Corridor

The “Missing Mile” in the Energy Corridor is Finally Complete

HOUSTON – The “Missing Mile” roadway in the Energy Corridor has been completed. The “Missing Mile” is a recently constructed stretch of Park Row, a street that runs parallel to Interstate 10 in west Houston. “The completion of Park Row not only represents a dramatic improvement in transportation in West Houston, but also Houston’s can-do attitude. This was a very ... Read More »

The Energy Corridor: The Epicenter of Houston’s Sublease Office Space Problem

HOUSTON— The Energy Corridor, named for its large concentration of energy tenants, has a difficult year ahead with 2.9 million SF of sublease space. The availability of sublease space has soared in Houston in the last year or so and 78 percent of the big sublease blocks have come from energy firms, according to Transwestern’s Sublease Statboard. Transwestern reports the ... Read More »

Transferred to Houston: What’s Next for Relocation Realty in the Energy Capital of the World: The Q&A with Amy Bernstein

For years, Houston was one of America’s fastest-growing cities; it was referred to as a 21st century boomtown. The price of oil kept heading skyward. Cranes crowded the sky, and new suburbs continue to pop up circling the city’s center.  Then the bottom fell out.  Energy prices crashed.  Companies began laying off workers.  Growth stalled.  And companies transferring employees to ... Read More »

Johnson Development Breaks Ground on 1,350-Acre Jordan Ranch West of Houston

  FULSHEAR, Texas – The Johnson Development Corp. has broken ground on its latest community, Jordan Ranch, on Houston’s west side. The 1,350-acre Fort Bend community is located one mile south of Interstate 10 near the Grand Parkway, giving residents easy access to the Energy Corridor and Katy. Approximately 2,800 homes are planned for Jordan Ranch, and nearly 500 homesites ... Read More »

Skanska’s Energy Corridor Office Building Tops Out

HOUSTON – Skanska announced its 385,000 SF office project in the Energy Corridor of west Houston has been topped out. Construction completion is slated for the second quarter of 2016. The building, called West Memorial Place ll, is 42 percent leased with IHI E&C occupying 160,000 SF. Skanska, part of a large Stockholm-based parent company, self-finances most of its projects. ... Read More »

Oil and The State of the Houston Office Market: The Q&A with Kevin Roberts of Transwestern

Beginning with Allen Brothers who founded the city,  Houstonians have been an optimistic bunch.  In recent years, since the end of the Great Recession, energy and real estate entrepreneurs exuded boundless optimism about Houston – and with good reason. With the price of a barrel of West Texas Intermediate crude rising to triple digits, the sky seemed to be the ... Read More »

Retail and Real Estate: The Q&A with Vista Equities Group President Woody Mann, Jr.

  With energy prices in turmoil and layoffs mounting, there is obvious concern in in the Houston real estate industry. Realty News Report talked to Woody Mann, Jr., President, Vista Equities Group about the current situation. Founded in 1985, Houston-based Vista has been involved in the acquisition and/or development of 58 commercial properties with a market value of over $500 ... Read More »

Hartman Buys Energy Corridor Building

HOUSTON – An affiliate of Hartman Short Term Income Properties XX, purchased the Ashford Crossing II office building near west Houston’s Energy Corridor. Ashford Crossing II is a 158,451 square-foot, six story office building located at Dairy Ashford Road and Whittington Drive. Built in 1983, the property is currently 87 percent leased. “Ashford Crossing II provides Hartman XX the ability ... Read More »

The Surprise Deal of the Year: A Conversation with Sue Rogers

Cresa principal Sue Rogers just put together a deal that some thought would be impossible in the summer of 2015 – a new office building being started near Houston’s Energy Corridor. Rogers, along with Cresa colleague Steven Heal, represented Cemex, the Mexican cement and building materials giant, which will anchor a new office building to be developed by MetroNational in ... Read More »

The Texas Real Estate Market Has Not Withered Away

A word on the Lone Star State: The Texas real estate market has not withered away following the remarkable decline in oil prices over the last year. A significant number of new developments are underway in Texas: a $1 billion 750,000 square-foot Facebook data center is under construction in Fort Worth; a 4 million square-foot Daikin HVAC manufacturing plant being ... Read More »

Energy Corridor Building to Fetch Record-High Price

HOUSTON – A new office building in Houston’s Energy Corridor is expected to sell for a record-high price, despite the recent collapse in oil prices and the energy industry layoffs that followed. The 549,000-square-foot Energy Center 3 tower, fully leased to ConocoPhillips, has been placed on the market with expectations that it will fetch a sales price of $270 million ... Read More »

Supply of Sublease Space Up 61 Percent in Houston Due to Fall in Oil Prices

HOUSTON – With shrinkage in the energy industry, the Houston office market has 61 percent more sublease space today than it did a year ago, according to NAI Partners of Houston. The sublease space is concentrated primarily in West Houston, which includes the Energy Corridor, Westchase and the Katy area. Houston has 7.7 million square feet of sublease space available ... Read More »

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