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JLL to Acquire HFF for $2 Billion

CHICAGO – (Realty News Report) – Jones Lang LaSalle Inc. and HFF Inc. today announced that they have entered into an agreement under which JLL will acquire all the outstanding shares of HFF for $2 billion. Both firms have a significant presence in Houston and are a major forces in capital markets and the brokerage of office, land, retail and ... Read More »

Houston’s Emerging Future: Q&A with Dan Bellow of JLL

HOUSTON – (Realty News Report) – Houston is at a cross roads. The office market is still recovering from the energy slump. The energy sector, battered by price fluctuations over the past several years, seems to be stabilizing. The Texas Medical Center, a pillar of the city’s economy, is expanding. What does this all mean for the future? Realty News ... Read More »

Drilling Contractors Association Signs HQ Lease in Westchase

HOUSTON – (Realty News Report) – The International Association of Drilling Contractors leased 18,920 SF for its headquarters in the new, eight-story Lockton Place building, 3657 Briarpark Drive in Westchase. The association, founded in 1940, will move its headquarters from 10370 Richmond in the third quarter. JLL’s Chad Barker and Matt Sanderson represented the Drilling Association. JLL’s Russell Hodges and ... Read More »

Topped Off With Houston Center Deal, Office Building Sales Rebound in 2017

HOUSTON – (Realty News Report) – For folks who sell Houston office buildings for a living, Thanksgiving should be extra special this year. After a paltry $300 million in office building transactions in 2016, the annual sales total will be well into the multi-billions by the time the last deal closes in 2017. And there are still more closings on ... Read More »

600,000-SF Industrial Building Started at Hines’ Pinto Business Park

HOUSTON – Construction has started on a 600,000-SF build-to-suit for Emser Tile in Pinto Business Park, a north Houston commercial development owned by the Houston-based Hines real estate firm and its joint venture partners Kohlberg Kravis Roberts & Co. Pinto Business Park is located near the southwest corner of Beltway 8 and I-45 North. Emser Tile is the largest, privately-held designer ... Read More »

Energy Services Firm Leases Crane-Served Industrial Space South of Houston

HOUSTON – ProEnergy Services, an energy industry services firm, leased 47,500 SF of industrial space at 8303 McHard Road, which is west of Almeda Road, south of Beltway 8. JLL’s Mark Nicholas, Richard Quarles and Joe Berwick negotiated the terms on behalf of the landlord, Schroeder Partnership Ltd. Drew Coupe and Josh Morrow of Stream Realty represented the tenant. ProEnergy ... Read More »

JLL Secures $9.8 Million for Austin Group to Buy Houston Project

HOUSTON – PPA Group, an Austin-based multifamily investment firm, has acquired its first apartment project in Houston and it is seeking more multifamily opportunities in the Bayou City. The 252-unit Cypress Ridge project, 2331 Bammelwood in north Houston, was purchased from CrestMarc of Dallas. JLL’s Capital Markets secured $9.8 million in acquisition financing for the buyer –  with an interest ... Read More »

Lawyers Shrinking Their Offices, JLL Reports

  HOUSTON (By Dale King) – Law firms throughout the nation are making a concerted effort to trim costs and improve efficiencies. They now have a blueprint for “right-sizing” crafted by a professional services and investment management company that offers specialized assistance to clients looking to maintain and increase the value of their properties. The latest edition of “Law Firm ... Read More »

Bivins Reports from the JLL Gensler Energy Forum in Houston

(By Ralph Bivins) HOUSTON – Persistent weakness in the energy industry continues to challenge the Houston office market where the supply of sublease space has reached 12.2 million square feet, according to JLL. The vacancy rate in Houston’s Energy Corridor area climbed to 25.7 percent in the third quarter and that submarket had 432,000 SF of negative absorption, JLL reports. ... Read More »

America’s Empty Space Leader: Energy Corridor No. 1 Submarket in Nation for Sublease

HOUSTON – The Energy Corridor of West Houston leads the nation in the supply of sublease office space, according to a JLL report comparing the supply of excess space in American submarkets. JLL reports over 3 million SF of excess office space is available for sublease in the Energy Corridor, where oil and gas companies have laid off thousands of ... Read More »

Nitya Capital Buys Class B Project Near Astrodome

HOUSTON – Nitya Capital, a Houston multifamily firm led by Swapnil Agarwal, purchased a 235-unit Class B multifamily community near the Astrodome. The project, called The Broadmead, located at 2801 Broadmead Dr., is 95 percent leased. JLL Capital Markets represented the seller of the community, Broadmead Apartments Ltd. Houston’s Class B multifamily market, which is 95.5 occupied, is attracting significant ... Read More »

JLL Moving into CRE Valuation with Acquisition of Dominy’s Integra Firm in Houston

HOUSTON – JLL is moving into the real estate appraisal and counseling with its pending acquisition of the Houston affiliate of Integra Realty Resources, a commercial real estate valuation, counseling and advisory firm. The Houston office of Integra Realty Resources is led by David Dominy, Michael Welch and Kenneth Levenson. Dominy built the business that was originally founded in 1962 ... Read More »

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