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Canadian Investor Buys Industrial Buildings on Texas/Mexico Border

McAllen, Texas – Canadian investor Dalfen America Corp., purchased four industrial buildings in the 1,200-acre Sharyland Business Park in McAllen, near the Texas/Mexico border. The portfolio consists of 635,752 square feet and is 89 percent occupied. JLL Capital Markets managing director Randy Fleisher, who arranged a $60 million credit facility for Dalfen through Bank of America, said foreign investors are leading a ... Read More »

DDR Buys Houston Retail Center for $74 Million

HOUSTON – DDR Corp. acquired Willowbrook Plaza, a 385,000-square-foot power center located in northwest Houston for $74 million. The center, 17355 Tomball Parkway, is adjacent to Willowbrook Mall, one of Houston’s top regional malls. Anchored by Bed Bath & Beyond, the shopping center is 87 percent leased, said DDR Corp, a REIT based in Ohio. The seller was a venture ... Read More »

Hines Breaks Ground on 40-Story Tower in Downtown Denver

DENVER — Hines on Tuesday broke ground on a 40-story tower in downtown Denver, one of the tallest projects built in Denver’s CBD in nearly three decades. The 662,000-square-foot project, called 1144 Fifteenth, will be located between Arapahoe and Lawrence Streets. The site is one block from the historic Latimer Square. Hines is starting the building on a spec basis. ... Read More »

Mission Buys Property in Energy Corridor

HOUSTON – In an office buy/land assemblage in the Energy Corridor, The Mission Cos. purchased Ashford Place II & III, two low-density office buildings in the Energy Corridor. The low-rise buildings have ample grassy lawns and surface parking, making them ideal for new high-rise construction in the next cycle. The Mission Companies already owns two buildings adjacent to Ashford Place ... Read More »

JLL Report: 2.5 Million SF of Sublease Space Has Hit Houston Office Market Since Jan. 1

HOUSTON – JLL reports that 2.5 million square feet of sublease space has come on the office market so far this year. About half of the sublease space is located in west Houston, where the Energy Corridor is located. BP, StatOil, and ConocoPhillips have all placed large blocks of excess space onto the market, this year, JLL says. Other reports ... Read More »

JLL’s Dan Bellow: Landlords Cut Rents as Houston Becomes a Tenants Market Again

HOUSTON – Long-time Houston broker Dan Bellow, president of Jones Lang LaSalle-Houston, says some Houston office buildings owners have reduced rents and overall rental rates are under pressure as Houston’s office market has become a “tenants’ market.” With energy company cutbacks and oil patch layoffs, oil companies are putting excess Houston office space  – some of it in brand new ... Read More »

Transwestern’s New Building Will Open 100 Percent Leased with New Tenant Signings

HOUSTON – Transwestern has signed three new leases to bring its new Westway Plaza office building in northwest Houston to 100 percent pre-leased. The 314,000 square-foot five-story Westway Plaza will be ready for occupancy in second-quarter 2015. Transwestern Development Co. is developing the project, 11330 Clay, at the Sam Houston Tollway. General Electric Co. leased 150,000 square feet in 2014 and ... Read More »

Unilev Buys Building in Houston’s Westchase

HOUSTON – Unilev Capital Corporation purchased 1500 CityWest, a 192,313-square-foot, Class A ten-story office building located in Houston’s Westchase submarket. The property is located at the intersection of CityWest Boulevard and Briar Forest Drive, near the West Sam Houston Parkway. JLL Capital Markets represented the seller, Metro National with Rudy Hubbard, Vice President Kevin McConn and Associate Rick Goings led ... Read More »

Another Westchase Office Building Sold in Blazing Hot West Houston Market

HOUSTON –  Columbia Centre, an office building located in Houston’s Westchase submarket, has been sold to Dornin Investment Group. Columbia Centre is a 166,720-square-foot, Class B+ nine-story office building.  It has access to the West Sam Houston Parkway, Westpark Tollway, Westheimer Road, and three major thoroughfares in West Houston. The building has frontage along Richmond Avenue and along Wilcrest Drive. JLL’s Managing Director Rudy Hubbard, ... Read More »

Bahrain-based Investcorp Selling Westchase Building for $110 Million

HOUSTON – Investcorp, a Bahrain-based investment firm, is seeking to sell  One Westchase Center, a 466,000 square-foot office building in West Houston, according to Real Estate Alert newsletter. The building could sell for as much as $110 million, which would represent a handsome profit over the $80 million it paid for the building only a year and a half ago, ... Read More »

Westchase Building Sells for $53 Million; New Owner May Build Another Tower On Site

HOUSTON – Clarion Partners, a leading real estate investment manager headquartered in New York, purchased the Westchase Corporate Center, a 184,259 square foot, Class A office building in west Houston for approximately $53 million. With the building acquisition, Clarion is also gaining the opportunity to build another office building on land now used as a parking lot for Westchase Corporate ... Read More »

$200 Million Dirt? — Exxon Mobil Selling Off Premier Infill Site in Houston with JLL

HOUSTON – One of the finest infill development sites in Houston – an Exxon Mobil research campus between the Galleria and downtown – is going on the market. The Real Estate Alert newsletter said the parcel – almost 17 acres along Buffalo Speedway – could bring as much as $200 million, a phenomenal price that would set a new standard ... Read More »

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