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Tag Archives: JLL

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 »

RNR Apartment Briefs

HOUSTON – FSC Realty, LLC, based in Beverly Hills, Calif., has purchased The Retreat at Conroe, a 210-unit Class A multifamily community in Conroe. CBRE Houston’s Multifamily Investment Properties Group announced the sale on behalf of Houston-based The Retreat at Country Club Park, LLC. The luxury community, at 2951 North Loop 336 West in Conroe, was completed in 2013 and is 97 percent occupied. “The Conroe area is going through ... Read More »

MarqE Retail Center Sold in Houston

HOUSTON – The Marq*E Entertainment Center, a 352,000-sf retail project, has been purchased by HCL-MarqE, LLC, an investment group reportedly affiliated with the Levcor organization. The property is located at the northeast corner of I-10 West (Katy Freeway) at Silber Road in Houston. JLL’s Capital Markets experts announced that the firm sold Marq*E project on behalf of Canyon Capital Realty ... Read More »

Exxon Mobil Sells Greenspoint Building to Stream Partnership

HOUSTON – Exxon Mobil, which is moving thousands of employees to its new campus near The Woodlands, has sold its Eight Greenspoint building in north Houston. The Greenspoint area, which includes the Greenspoint Mall near the intersection Interstate 45 and Beltway 8, has been identified as one of the submarkets that could be hard-hit by Exxon Mobil’s relocation to its ... Read More »

Houston Leads Nation with a 70 Percent Increase in Office Rental Rates in Recent Years, JLL Reports

HOUSTON – Houston has led the nation in skyscraper rental increases, with its trophy office properties rents rising 70 percent since 2005, according to a new report by JLL. San Francisco was second with a 69 percent trophy-office rental increase, followed by Austin at 54 percent, Denver at 52 percent and Salt Lake City at 50 percent. “Bottom line: It’s ... Read More »

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