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Hines, Novak Break Ground on Sheraton Hotel Near Austin

GEORGETOWN, Texas – Hines, the Houston-based real estate firm, along with joint venture partner Novak Brothers, recently held a groundbreaking ceremony celebrating the start of construction of a Sheraton hotel that will be part of a mixed-used project in in Georgetown, which is 25 miles north of downtown Austin. The developers are building a 222-room Sheraton Georgetown Texas Hotel and ... Read More »

Hines REIT Sells Dallas Building to Bradford; Uptown Tower is HQ of Balfour Beatty Construction

DALLAS – A Bradford Commercial Real Estate Services partnership has purchased the Citymark office building in Uptown Dallas from Hines Real Estate Investment Trust. The 11-story tower houses the U.S. headquarters of its largest tenant, Balfour Beatty Construction. CBRE Capital Markets’ Institutional Group represented Hines in the transaction. The office building offers a total of 218,926 rentable square feet and ... Read More »

Hines Partnership Buys Southern Calif. Office

NEWPORT BEACH, Calif. – Hines, the Houston-based real estate firm, along with a subsidiary of a fund managed by Oaktree Capital Management, has acquired 4000 MacArthur, a Class A office project consisting of two, ten-story buildings totaling 375,000 square feet in Newport Beach, California. Situated within the 179-acre Koll Center Newport at the intersection of MacArthur Boulevard and Jamboree Road, ... Read More »

Hines Buys Office Project in Washington State

BELLEVUE, Wash. – Hines, the Houston-based real estate firm, acquired Civica Office Commons, a 323,562-square-foot Class A office project in Bellevue, Washington. Developed in 2001, Civica consists of a two-building portfolio connected by a common atrium. The buildings are six and eight stories with a total of 323,562 square feet of office space. “The Bellevue submarket continues to be the ... Read More »

Brookdale Buys 40-Story Tower from Cousins for $167 Million

FORT WORTH – Cousins Properties Inc. announced that it has completed the sale of 777 Main, its 980,000 square foot, Class A office tower in downtown Fort Worth for a gross price of $167 million. The tower was purchased by the Brookdale Group, an Atlanta firm led by former Hines executives. Cousins purchased 777 Main for $160 million in September ... Read More »

Houston’s Top 17 Catalyst Deals of the Year

HOUSTON – Houston realty outscored the nation in most categories last year. The city has more than 17 million square feet of office space under construction, far more than any other city. And it had more single-family housing starts than any other market in the nation last year. Plus, existing single-family sales are on a record-setting pace. While adding 125,000 ... Read More »

Hines Buys Former Intel Building in Guadalajara

GUADALAJARA, Mexico – Hines has acquired Parque Industrial Tecnológico II, a 1,308,321-square-foot industrial property located in Guadalajara, Jalisco, Mexico. Hines developed Parque Industrial Tecnológico II and sold it to Union Investment in 2007.  Cushman and Wakefield represented Union Investment in this operation and Savills represented Hines. Parque Industrial Tecnológico II is located at the corner of Anillo Periferico and Avenida ... Read More »

AEW/Hines Building Industrial Building at Recently Acquired Business Park Near Dallas Airport

DALLAS – Hines, the Houston-based real estate firm, in conjunction with AEW Capital Management, announced the acquisition of Parc 114, a 52-acre master planned business park in Irving, near Dallas. Parc 114 is comprised of six industrial buildings totaling 404,777 square feet. The business park also has an additional 18.5 acres of development land that can accommodate 191,262 square feet. ... Read More »

Hearst Selects HFF to Market Houston Chronicle Downtown Property

HOUSTON – Hearst Corp. has selected the HFF commercial real estate brokerage firm to handle the sale of its Houston Chronicle property in downtown Houston. Hearst interviewed a number of Houston’s leading commercial real estate brokers before selecting HFF, a national firm with a strong local office. The 10-story Chronicle building, 801 Texas Ave., covers a full city block and ... Read More »

Hines, Cousins to JV Office Tower Project in Downtown Dallas

DALLAS – Hines, the Houston-based real estate firm, and Cousins Properties, the Atlanta-based REIT,  have formed a joint venture to develop the Victory Center office tower in the Uptown Dallas submarket. Designed by Duda/Paine Architects, Victory Center will be a 23-story, trophy office tower with approximately 466,000 rentable square feet of office and retail space and is expected to achieve ... Read More »

RNR Apartment Briefs from Around the Nation

HOUSTON – Marquette Cos. of Chicago will break ground this week on a 28-story apartment tower in downtown Houston on Texas Avenue between Austin and LaBranch, near the Astros’ Minute Maid Field. The project, called Catalyst, will have 361 units. Hines, Trammell Crow and Finger Cos. – and others – have projects underway in downtown Houston. RALEIGH — Greystone acquired ... Read More »

Biggest Deal Ever? Foreign Investors Bid Heavy on a Houston Trophy Tower

HOUSTON – A dozen investment groups, including foreign buyers, submitted bids this week to buy the 1000 Main building in downtown Houston – a transaction that may become the biggest deal ever in the Bayou City. Foreign buyers, including players from Europe, the Far East, the Middle East and Canada submitted offers to purchase the 36-story building, said Bernard Branca, ... Read More »

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