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Statoil Leases 581,000 sf in Houston’s Westchase

HOUSTON – Statoil Gulf Services, part of Norwegian energy titan Statoil ASA, leased 581,000 sf as their North American headquarters at CityWestPlace in Houston’s Westchase District. The landlord is Thomas Properties Group. Statoil will occupy the entirety of CityWestPlace Building 2, comprising 431,000 sf, as well as extend their existing lease for 150,000 sf in CityWestPlace Building 4. Statoil currently ... Read More »

Hines Developing Residential Community in Houston

HOUSTON – Hines, the international real estate firm, will develop a high-end townhome on a community a 46-acre tract of land inside the 610 Loop at Interstate 10, located on Old Katy Road next to The Houston Design Center. The gated community will have 500 townhomes priced from about $500,000 to $1 million. Hines said the community will be called ... Read More »

30-Story Office Tower Under Construction in Houston’s Galleria Area

HOUSTON – Construction has begun on at 30-story office tower in The Galleria area of Houston. The 600,000 square-foot building is fully leased by BHP Billiton, a mining and petroleum company based in Melbourne, Australia. The new building, called BHP Billiton Tower, will be located on Post Oak Boulevard, just north of San Felipe, in the Four Oaks Place development. A ... Read More »

Mesa West Places $85 Million Note on Skanska Tower in Houston

HOUSTON — Mesa West Capital has provided two principals of the alliantgroup with $84.9 million in non-recourse first mortgage debt for its off-market purchase of the 3009 Post Oak Boulevard tower in the Galleria submarket of Houston. The seller was  Skanska Commercial Development. The price was $112 million. The buyers, a partnership led by Dhaval R. Jadav, CEO of alliantgroup and ... Read More »

Heritage Plaza is on the Market; Price could be near $480 Million

Heritage Plaza, known as one of Houston’s most distinctive towers because its top resembles a Mayan temple, is up for sale, according to the authoritative Real Estate Alert newsletter. A Brookfield Office Properties partnership is putting the 53-story Heritage Plaza building in downtown Houston up for sale and the price could go as high as $480 million, the newsletter said. Brookfield ... Read More »

REIT Buys Apartment Projects in Richardson, Texas and Nashville

DALLAS – Landmark Apartment Trust of America, a multifamily real estate investment trust (REIT), acquired two multifamily properties in separate transactions for a combined purchase price of $33.5 million. In the first transaction, LATA acquired Landmark at Preston Wood, a 194-unit apartment community located at 333 Preston Wood Drive in Richardson, Texas, a suburb of Dallas. Formerly known as Mission ... Read More »

Skanska Tower Near Galleria in Houston Sells for $112 Million

HOUSTON – Skanska USA has sold its new spec office building, a 20-story building located near Houston’s Galleria to an investment group affiliated with the building’s new lead tenant, the Alliantgroup for $112 million. The 20-story building, 3009 Post Oak Boulevard, is located on a parcel between Loop 610 and the Gerald D. Hines Water Wall Park. Alliantgroup, a providers of specialty ... Read More »

Hines Developing High-Rise Office in Downtown Milwaukee

MILWAUKEE, Wis. – Hines will develop a 32-story office tower in downtown Milwaukee for Northwestern Mutual  – a demonstration of growing confidence in the economic recovery. The 1.1 million sf project is expected to be completed in 2017 and will provide an additional 1,900 new jobs at Northwestern Mutual. Designed by New Haven, CT-based Pickard Chilton, the Northwestern Mutual Tower ... Read More »

Bill Gates Investment Arm Buying Four Seasons Hotel in Downtown Houston

Microsoft chairman Bill Gates’ investment firm, Cascade Investments, is buying the Four Seasons Hotel in downtown Houston considered one of the finest hotels in Texas. Located at 1300 Lamar Street, near Discovery Green park, the luxury hotel features 404 rooms and suites and 64 rental apartments. Gates’ Cascade Investments is buying the Four Seasons from Maritz, Wolff & Co. which has ... Read More »

Going Public: Marcus & Millichap Files for IPO

CALABASAS, Calif.  — Marcus & Millichap has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The number of shares and the price range for the offering have not been determined. Upon completion of the initial public offering, Marcus & Millichap Real Estate Investment Services, ... Read More »

Houston Shopping Center Sells for $41.6 Million

HOUSTON – AmREIT, Inc., has acquired Woodlake Square Shopping Center, a 160,761 sf shopping center in Houston, for $41.6 million. The center is anchored by Randalls and Walgreens. Woodlake Square, located at the northeast corner of Westheimer and Gessner, has average household income in a one-mile radius of $69,595, and 82,692 households in a three-mile radius. Woodlake Square was purchased from ... Read More »

First Building Opens in 66-acre Hughes Landing in The Woodlands

HOUSTON – One Hughes Landing, the first office building in Hughes Landing, a 66-acre, mixed-use development situated on 200-acre Lake Woodlands has opened in The Woodlands, north of Houston. Hughes Landing will feature up to 11 office buildings; shopping, dining and entertainment; a specialty grocer; an upscale hotel; a fitness center and up to 800 multi-family units. One Hughes Landing ... Read More »

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