Realty News Report Covering Commercial and Residential News

PASADENA, Texas – (Realty News Report) – Avera Cos. plans to build a 148,000-SF distribution building at the corner of Highway 225 and Red Bluff Road in Pasadena on the southeast side of Houston. It will be built on 11.8 acres Avera just acquired. Avera, a Houston-based firm led by Trey Odom, has been exceptionally active in the southeast Houston ... Read More »

HOUSTON – (Realty News Report) – Another new office project is being introduced into the Houston market. Clay Development and Construction, a Houston firm led by Robert Clay, has announced a 150,000-SF office project on North Post Oak Road, not far from Northwest Mall. The development is not large and it won’t be constructed in a single phase so it ... Read More »

HOUSTON — (By Dale King, Realty News Report) — New Hope Housing’s latest entry in Houston’s single room occupancy (SRO) apartment community is a sight to behold. Inside are bright, white-walled units with modern fixtures, comfortable furnishings and fine accouterments. Specialty areas include a library, community room and social service location. An elegant canopy surrounds the bright courtyard. Out front, ... Read More »

HOUSTON — (Realty News Report) — Houston home sales were up 2.8 percent in the first quarter of 2018, compared to a year earlier, according to the Houston Association of Realtors. The year’s fast start it impressive because it represents a gain over the record sales recorded 2017, the best year ever for home sales in Houston. Home sales in ... Read More »

HOUSTON – (Realty News Report) – The structural integrity of the aging Addicks and Barker dams, built to protect a large portion of Houston from flooding, is uncertain and should be the subject of a transparent investigation, according to a new research report by Greater Houston Flood Mitigation Consortium. “Data indicate that if either the Addicks dam or the Barker ... Read More »

HOUSTON – (Realty News Report) – Waterton, a Chicago-based real estate investor and operator, has acquired Carrington at Barker Cypress, a 330-unit apartment community at 7202 Barker Cypress Road in Cypress, Texas – 25 miles northwest of downtown Houston. Houston’s apartment occupancy rose sharply last year following Hurricane Harvey flooding, which damaged 204,000 single-family and multifamily homes. “Houston as a ... Read More »

HOUSTON – (Realty News Report) – Houston’s supply of sublease office space has been increasing again, wiping out some of the celebrated decreases in the overhang. Houston has 9.4 million SF of sublease space available, according to a recently released March report by NAI Partners. The sublease supply was less than 9 million SF at year-end – a short-lived positive ... Read More »

HOUSTON – (Realty News Report) – The Loop Central office complex has been acquired by Griffin Partners. The seller was TIER REIT Inc., a Dallas-based real estate firm. The three-building office complex is located on the east side of Loop 610, just south of Westpark, near the city of Bellaire. The 575,000-SF project is about 84 percent leased. The REIT ... Read More »

HOUSTON – Fiesta Mart, a Houston-based grocery chain with 63 stores, is being acquired by Groupo Comercial Chedraui, a Mexico-based retailer, for $300 million. Chedraui already has 60 grocery stores in California and other states operating under the El Super brand name. The addition of Fiesta Mart makes the chain a strong national force in selling groceries to the Spanish-speaking ... Read More »

HOUSTON – (Realty News Report) – “Buy land, they’re not making any more of it,” Humorist Mark Twain once famously said. Houston real estate legend Stan Creech doesn’t necessarily buy land; he brokers it – to the tune of $2 billion during his more than 40 years in the real estate business. Since his graduation from the University of Texas law school in 1971, Creech specializes in the sale of ... Read More »

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – The Meyerland community lost more than homes when Hurricane Harvey hit Houston last year. It lost its H-E-B grocery. The H-E-B void will be filled in late 2019 when a new, elevated store is completed at Meyerland Plaza, at the corner of Loop 610 and Beechnut in southwest Houston. ... Read More »

PEARLAND, Texas – (Realty News Report) – Houston developer Allen Crosswell, managing principal of NewQuest Crosswell, has purchased the remaining commercial tracts in Shadow Creek Ranch, a 3,300-acre master planned community that is nearing completion. The deal, with a Crosswell-led partnership acquiring the remaining 63 acres of commercial reserves in Shadow Creek Ranch, represents the final exit from the master-planned ... Read More »