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Prologis Buying Liberty Property Trust for $12.6 Billion

HOUSTON – (Realty News Report) – Prologis Inc., one of the world’s largest industrial real estate companies, has agreed the to acquire Liberty Property Trust in a $12.6 billion all-stock transaction. The companies both have large holdings in Houston. The Houston office of Prologis has a 18.5 million SF portfolio and Liberty controls 69 buildings with 10.4 million SF in ... Read More »

Best Seller: Q&A with Bill Brownfield, Author of a Commercial Real Estate Classic

HOUSTON – (Realty News Report) – The devil, they say, is in the details, and no one is more aware of that than Bill Brownfield. Along with Larry Mayerhofer (CPA), Brownfield co-authored The Escalation Handbook for Office Buildings, first published by the Building Owners and Managers Association (BOMA) in 1991. The book remains very popular with property managers, property accountants and ... Read More »

Hines Partnership Acquires the Tallest Office Tower in Texas

HOUSTON – (Realty News Report) – Hines, in partnership with Cerberus Capital, has acquired the 600 Travis building, a 75-story office property known as the tallest tower in Texas. The sales price was not disclosed. But, according to Real Estate Alert, the price was estimated to be around $627 million or $300 per SF in a recent report. The sale also includes the adjacent ... Read More »

PNC Bank Leases 59,000 SF of Office Space in New Braunfels – with 500 Employees

NEW BRAUNFELS, Texas – (Realty News Report) – PNC Bank has leased Parkview Plaza, a new 58,574 SF class A office building in New Braunfels. San Antonio-based Koontz Corp. developed the building and is developing a 47,000-SF office building nearby. Pittsburgh-based PNC Bank one of the largest diversified financial institutions in the U.S., will use the building as its new operations ... Read More »

KHOU’s Big Lease – Plus a $10 Million Redo – Generates Upswing at Westheimer Office Tower

HOUSTON – (Realty News Report) – The arrival of flood-impacted KHOU-TV Channel 11 as a key tenant – along with a hefty $10 million renovation budget – has triggered new leasing activity in the 5718 Westheimer office tower near the Galleria. CBRE’s Marilyn Guion and Parker Duffie have inked over 18,000 square-feet in recent leases. “The KHOU-TV station lease was a significant win ... Read More »

People in Real Estate – Promotions, Hiring and Advancement

NAI Partners’ Landlord Services Division has hired veteran Houston office leasing executive David Bateman as Senior Vice President – Office Project Leasing. He has been with Hartman REIT. Jay Kraft joined Arch-Con Corp. as senior vice president of office and corporate interiors. Paul Layne was named CEO of Howard Hughes Corp., which relocated its headquarters to The Woodlands. David Weinreb, formerly CEO,  has ... Read More »

Songy Highroads Acquires Another Houston Office Property

SUGAR LAND – (Realty News Report) – Songy Highroads has acquired Sugar Creek Place I, a 151,722-SF, Class A office building located along the Southwest Freeway in Sugar Land. The six-story building is 86-percent leased, according to Songy Highroads, an Atlanta-based firm with extensive holdings in the Houston area. Over the last five years, more than $1.7 million in capital ... Read More »

Neil Tofsky Group Buys Prime Tract for Mixed-Use Development in Greenway Plaza Area

HOUSTON – (Realty News Report) – A partnership led by Houston-based Senterra Real Estate Group LLC has purchased a prime, four-acre parcel at northwest corner of Buffalo Speedway and Richmond Avenue for a future mixed-use development. Located about a quarter mile north of the Southwest Freeway, the property is directly across from the eastern edge of the Greenway Plaza campus. The ... Read More »

Skanska Making Huge Play in East Downtown – and the Aftershocks Could be Transformative

HOUSTON – (By Ralph Bivins of Realty News Report) – Skanska Commercial Development has paid $55 million for 3.5 acres near Discovery Green park, where it expects to build a large mixed-use development. The four downtown parcels are surface parking lots near Dallas, Lamar and LaBranch streets, including a full city block across from Marvy Finger’s One Park Place residential ... Read More »

Paul Layne Named CEO of Howard Hughes Corp. as Corporate HQ Moves to The Woodlands

HOUSTON – (Realty News Report) – Howard Hughes Corp., the developer of The Woodlands, Bridgelands, Summerlin in Las Vegas, has named Paul Layne as CEO and is moving the company’s headquarters to The Woodlands. Following a “strategic review process” the firm announced Monay it would sell $2 billion in “non-core assets” and redeploy assets into stock repurchases and advancing development ... Read More »

The Industrial Revolution: Q&A with Mike Spears of Lee & Associates Houston

HOUSTON – (Realty News Report) – Houston’s industrial real estate sector is changing – and it may not be for the better. Construction of distribution product in the Houston area continues to grow according to the 2019 second quarter report from Lee & Associates. From the 2018 third quarter to the 2020 first quarter, a little over 24 million square ... Read More »

Real Estate Briefs – Houston and Elsewhere in Texas

Chemstations, Inc.  has obtained a lease to relocate its office to 6,502 SF at 11000 Richmond Ave., Houston. Parker Duffie with CBRE in Houston represented the landlord, Woodbranch 11000 LLC. Rich Pancioli, also with CBRE in Houston, represented the tenant. ……………………………………………. Commercial real estate services firm Avison Young negotiated the lease of 102,863 SF of industrial space at 9701 New ... Read More »

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