Realty News Report Covering Commercial and Residential News

HOUSTON – (By Michelle Leigh Smith, Realty News Report) – As 2018 began, institutional investors are focused on Houston again, while the industrial and multifamily markets still have room to run. In short, the forecast for Houston commercial real is good, according to experts at the BoyarMiller Annual Commercial Real Estate Forum at the Briar Club Thursday. Despite two missed ... Read More »

HOUSTON – (Realty News Report) – Fear of the Houston office market intensified about three years ago. The oil price crash whacked the energy companies, which dumped massive amount of office space onto the sublease market. Some office-building owners, like Cousins Properties, decided to hightail it out of town. Houston was an outcast in the capital markets world. Investors stayed ... Read More »

HOUSTON – (Realty News Report) – A partnership of M-M Properties of Houston and Baupost Group of Boston is expected to purchase the 41-story Marathon Oil Tower on the northwestern side of Houston’s Galleria area, according to Real Estate Alert. With a $175 million offer, the partnership appears to be the top bidder for the 1.2 million-SF building. The seller, ... Read More »

DALLAS – The FedEx office headquarters at Legacy West in Plano, near Dallas, has been purchased by PRP Real Estate Investment Management of Washington, D.C. The seller, KDC Real Estate Developments & Investments, was represented by CBRE’s Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill. Completed in 2015 by KDC, the four-story, 263,621-SF office building ... Read More »

HOUSTON – (Realty News Report) – For folks who sell Houston office buildings for a living, Thanksgiving should be extra special this year. After a paltry $300 million in office building transactions in 2016, the annual sales total will be well into the multi-billions by the time the last deal closes in 2017. And there are still more closings on ... Read More »

HOUSTON – JLL’s Capital Markets completed the sale and leaseback of a 133,480-SF industrial distribution facility at 7350 Langfield Road in northwest Houston. Denver-based Industrial Property Trust purchased the property. T&L Distributing, a flooring company will leaseback 100 percent of the property from IPT. The JLL team working on the transaction included Dustin Volz, Kevin McConn, Zane Marcell and Grant ... Read More »

HOUSTON – (By Dale King, Realty News Report) – Investment sales at midyear were up 300 percent in Houston, which now ranks fourth in the nation in investment sales, according to a new Avison Young study. While the fall-out from low oil prices plagued the Houston market last year, and investors shied away because of uncertainty about the whether Houston ... Read More »

HOUSTON – (By Ralph Bivins) – Investor interest has been rekindled in Houston, after an oil price crash becalmed investment sales activity. Only a handful of Houston office buildings were sold in 2016 as vacancy rates soared and energy companies dumped loads of excess office space on to the sublease market. “There’s lots of interest in Houston by investors, lenders ... Read More »

HOUSTON – As the price of oil plunged to the lowest level in years, investor interest in Houston plunged right along with it. By early 2016, oil had fallen below $30 a barrel, down from a high of $107 in the summer of 2014. A few vulture funds ventured forth during the free fall, seeking bargains in the world’s energy capital, but when these funds ... Read More »

HOUSTON – Austin Management Group, a Houston firm led by Steve Moore, has acquired the Northborough Tower, a 14-story office building at 100 Glenborough Drive in the Greenspoint area. The 206,533-SF building is currently vacant, although it is 99 percent leased until 2018 by Noble Energy. Transwestern’s Leah Gallagher, Michelle Wogan and Hale Umstattd represented seller. The building was formerly ... Read More »

SEATTLE — Hines Global REIT sold the Komo Plaza data center building in downtown Seattle for $276 million. The deal represents a handsome return for the REIT, which bought the property in 2011 for $160 million. The buyer was GI TC Seattle, LLC, which is affiliated with the GI Partners investment organization in San Francisco. The six-story, multi-tenant complex consists ... Read More »

Houston’s multifamily market has seen better times. The sector’s pricing is weak, rent growth is close to disappearing and multifamily construction continues unabated. Free rent is being offered in some neighborhoods.  Can the situation get worse?  Or better? To find out where the multifamily investment market is headed, Realty News Report talked with Teresa Lowery, Senior Managing Director, multifamily, in the Houston ... Read More »