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Weingarten Leaves the Warehouse Business, Selling 52 Properties for $382 Million

HOUSTON -Weingarten Realty Investors, a Houston-based REIT, has sold 52 industrial properties for $382.4 million, enabling Weingarten to focus solely on shopping centers. “The completion of this portfolio sale is a significant step in our previously outlined capital recycling initiative and effectively positions Weingarten as a pure-play retail REIT. We will continue our commitment in building shareholder value through the ... Read More »

Lehman Bros. Buys Remainder of Archstone

NEW YORK – Bank of America and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, an apartment firm, for a purchase price of $1.58 billion to Lehman. Bank of America and Barclays will pay an ... Read More »

Historic St. Anthony Hotel of San Antonio Sold

SAN ANTONIO – The St. Anthony Hotel, a 352-room, historic hotel in San Antonio, has been purchased by San Antonio-based BC Lynd, which will spend $24 million to renovate the 103-year-old property. The St. Anthony Hotel is located at 300 East Travis Street at the intersection of Navarro Street in downtown San Antonio.  The 10-story property offers 22 meeting rooms ... Read More »

Centennial Buys Retail in North Texas

NORTH RICHLAND HILLS, Texas  – Centennial Real Estate bought The Crossing, a 247,720-square-foot community center located in North Richland Hills, Texas. The Crossing is anchored by Kohl’s and shadow anchored by a Kroger Signature store. It is positioned at the northwest corner of the intersection of Grapevine Highway and the newly-widened Precinct Line Road, and lies within the civic core ... Read More »

Hines/Ivanhoe Cambridge JV to Build 45-story Tower in Chicago

CHICAGO – Ivanhoé Cambridge, one of the 10 largest real estate companies in the world, announce that  $300 million will be spent to build a 45-story office tower in the West Loop in downtown Chicago. The tower, River Point, is being developed by co-investor and international real estate firm Hines, on land co-owned by local business leader Larry Levy. The investment ... Read More »

Deal Sikes: ‘Unprecedented’ Eminent Domain Play in NW Houston

HOUSTON — Deal Sikes & Associates, a Houston real estate valuation firm, has performed extensive valuations for a massive property acquisition project that will widen Interstate 610 along a stretch of urban freeway known as the West Loop North. The Texas Department of Transportation is acquiring 73.4 acres along Houston’s West Loop near US Highway 290. “This unprecedented expansion of ... Read More »

Insurance Companies Make Major Realty Buys

Insurance firms are on a commercial realty buying spree, according to an article by Ben Johnson on Major deals include: 1. Metropolitan Life purchase of  Reynolds Plantation 70 miles east of Atlanta, which includes The Ritz-Carlton Lodge, six  golf courses, four  marinas and nearly 5,000 acres of undeveloped golf and waterfront property. 2. Prudential Real Estate Investors,  in a joint ... Read More »

Bass Brother Starts 3 Mixed-Use Buildings in Downtown Ft. Worth

FORT WORTH – Sundance Square has started work on three new buildings in the center of the 35-block office, retail, and entertainment district in downtown Fort Worth. The building names were also revealed and in keeping with Sundance Square’s heritage, the new buildings will be known as The Commerce Building located at 420 Commerce Street; The Westbrook situated at 425 ... Read More »

Prediction: Home Prices to Rise Significantly

By Ralph Bivins Houston home prices will increase over the next couple of years as the city’s economy adds new jobs while home inventory shrinks, Houston economist Ted C. Jones predicted at an economic forecast luncheon. “We have the highest home prices in the history of Houston, Texas. The market is back,” Jones said. Jones, speaking at the Spring Symposium ... Read More »

Journalists Heading to Denver for Major Real Estate Conference in June

DENVER – The National Association of Real Estate Editors (NAREE) offers a prestigious lineup of speakers – including Margaret Kelly, chief executive officer of Re/Max and NAREIT chair Donald Wood, plus a dozen more CEOs and principals, and five chief economists – at its Real Estate Journalism conference June 20 – 23 in Denver. Based at the Brown Palace Hotel, ... Read More »

Amazon Leases Massive Industrial Space Built by Hillwood and Clarion Partners

SAN BERNADINO, Calif. — Hillwood and Clarion Partners  announced that the more than 950,000  square foot facility under development as part of the AllianceCalifornia project in San Bernardino will become an Amazon fulfillment center after the building is complete. The joint venture began construction on the facility earlier this year. Amazon is expected to take occupancy as  early as this autumn. ... Read More »

3,635-acre Business Park Underway Near Houston Airport

HOUSTON — McCord Development of Houston has announced plans to develop Generation Park, a 3,635-acre business park in near Bush International Airport that is being touted as the largest new commercial development in the nation. The business park will someday contain $5 billion worth of industrial, office, retail and medical space, along with hotel and multi-family development, according to an Houston Business ... Read More »

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