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GreenStreet: New Hotel to be Developed in Downtown Houston

HOUSTON – A new upscale hotel, developed in partnership with the Valencia Group, will be built to create new momentum at the GreenStreet mixed-use development in downtown Houston, according the project’s new owners, Midway Cos. and an investment group led by basketball legend Magic Johnson. GreenStreet, a 570,000-sf project covering four blocks east of Main Street, was formerly the Houston ... Read More »

Transwestern/Ridge JV to Develop Industrial in U.S. and Mexico

HOUSTON — Transwestern Development Co. has entered into a joint venture with the principals from Chicago-based Ridge Property Trust  to expand its industrial development in North America, including Mexico. The joint venture, Ridge Development will focus on the development of warehouse, distribution and manufacturing facilities; the acquisition and development of green-field properties; and the redevelopment of existing buildings and brownfield ... Read More »

Texas Realty Alert: HAR Becoming a Statewide Website for Home Listings

HOUSTON – HAR.com, founded by the Houston Association of Realtors almost 20 years ago, will begin carrying listings of homes for sale across Texas. HAR has signed an agreement with List-Hub to make the Texas listings available in a beta version later this month. The statewide version of the website reportedly will be operating with the “Homes And Realtors” marketing ... Read More »

Houston’s Home Sales in 2014 Will Surpass Record-Setting Annual Sales of 2013

COMMENTARY – Houston home sales hit an annual record in 2013 with 73,232 sales. RealtyNewsReport predicts annual home sales in 2014 will surpass the 2013 total. Houston’s home sales in 2014 will set a new annual sales record. Those who are predicting a slow down are wrong. Job growth, corporate relocation and population growth are exceptionally strong in Houston. Housing supply ... Read More »

Embrey Starts Transit-Oriented Multifamily near Dallas

RICHARDSON, Texas — San Antonio-based Embrey Partners, Ltd. has started construction on GreenVUE, transit-oriented development on Greenville Avenue in Richardson, Texas’ Telecom Corridor, near Dallas. “As the most significant and unique high-tech business concentrations in Texas, Telecom Corridor is a particularly exciting development for us,” said Trey Embrey, president of Embrey Partners. The community is scheduled for completion in 2015 ... Read More »

Parallel & Zell Group Buy San Diego Project for $73 Million

SAN DIEGO  – Expanding its San Diego footprint and adding nearly 300,000 square feet to its portfolio, Parallel Capital Partners has acquired a three-building Class A office complex in Sorrento Mesa – San Diego’s premier technology hub – for $72.5 million. Parallel purchased the project, known as Wateridge Plaza, in a joint venture with Equity Group Investments, a Chicago-based private ... Read More »

USAA Buys Huge Refrigerated Warehouse

STOCKTON, Calif. — USAA Real Estate Co. has acquired 916,000 square feet of industrial space – including a massive freezer – in Stockton in California’s Central Valley, the fastest growing region in California. CBRE’s Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane, represented San Antonio-based USAA in buying  the two buildings, with adjacent land. Building 1 features 30,000 ... Read More »

Tallest Tilt-Wall in Texas Tops Out

THE WOODLANDS – The Tallest Tilt-Wall in Texas has topped out. Stream Realty Partners has hoisted the final panel in place for what the company says is the first six-story tilt wall office building in Texas. The 154,000-sf structure is a Class A office building with high-end finishes, abundant exterior glass and a large exterior courtyard/garden with a fountain, says ... Read More »

Fracking Play: 3,000 Units Sold in Permian Basin, Where Multifamily Occupancy is 97 Percent

MIDLAND, Texas – The Related Cos.’ Related Real Estate Recovery Fund has purchased 3,128 apartment units, primarily located in the Permian Basin of West Texas. An affiliate of Pivotal Group sold the 3,128 apartment units –  a 21-apartment community portfolio located in Midland, Odessa and Longview, Texas. The portfolio has been extensively renovated since it was acquired a little more ... Read More »

Houston Home Buying Binge Continues

HOUSTON – Houston homes sales were up 8.3 percent in February, compared to February of 2013, as home prices rose to record-setting levels last month, the Houston Association of Realtors reported. With inventory at record lows, the average single-family home price was up more than 12 percent from a year ago, Houston Association of Realtors reported. “I think prices will ... Read More »

Avera Breaks Ground on Huge Distribution Facility Near the Port of Houston

HOUSTON – Avera Cos., a Texas-based real estate development firm, has broken ground on a massive distribution center at the Port of Houston. The project, called 225 RailPort, is located on 47 acres at Beltway 8 and Highway 225, will be one of the largest rail-served properties in southeast Texas. Frontier Logistics, which services the plastics industry, will occupy the ... Read More »

Energy Corridor Office Building Sold

HOUSTON – HFF handled the sale of Gulf Plaza, a six-story, 120,651-sf, single-tenant office building in Houston’s Energy Corridor, which is one of the strongest submarkets in the nation. Class A space in the Energy Corridor is 99 percent occupied and a number of office projects are under construction there. HFF marketed the property on behalf of the seller, Hartman ... Read More »

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