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Category Archives: New Development

22-Acre Portion of Greenspoint Mall with Old Macy’s Store Acquired for Development of Truck Stop

HOUSTON – A 22-acre portion of Greenspoint Mall, including the old Macy’s store, has been acquired for the development of a truck stop, reports Houston real estate broker Jim Mattox of Jim Mattox Properties. The 1.4 million SF Greenspoint Mall in north Houston suffered through the closure of a number of a number of stores, including Macy’s, which shut down ... Read More »

David Weekley to Build Townhomes in Hines’ Urban Mixed-Use Development in Jacksonville, Fla.

JACKSONVILLE, Fla. – David Weekley Homes will build 135 townhomes and detached single-family houses in Southside Quarter, a 105-acre mixed-use project being developed by Hines in Jacksonville. The homes will be part of Weekley’s Central Living brand. Central Living is the high-density division of David Weekley Homes offering residential options in prime locations and was first launched in Houston in ... Read More »

Expansion Era: Q&A with New Arch-Con President Jason Cooper

Houston’s real estate market has seen better times but Houston-based Arch-Con Construction is not feeling the effects since they have diversified across product types and into other metropolitan areas. Headed by CEO Michael Scheurich, Arch-Con has nearly 4 million-square-feet of commercial projects currently under construction with a projected revenue of $300 million for 2017, a 33 percent increase over last year. In Houston alone, the ... Read More »

Border Wall Will Require a Huge Eminent Domain Effort

HOUSTON –The proposed wall along the U.S.-Mexico border represents one of the largest eminent domain undertakings in the nation’s recent history, according to Deal Sikes & Associates, a Houston-based firm active in eminent domain counseling and representation. The border from San Diego to Brownsville, Texas spans almost 2,000 miles. Some 650 miles of the border has already been fortified with ... Read More »

Houston Office Leasing Diversified in 2016, CBRE Research Reports

HOUSTON – Houston’s energy companies accounted for only 18 percent of the office leasing activity in the city last year, a significant decline from historical levels, CBRE reports. But, in a demonstration of Houston’s diversified economy, companies in other industries stepped up and leased a large blocks of office space. Houston’s office occupier demand has diversified, reports CBRE. It’s not all about ... Read More »

CBRE Moving Its Austin Offices to New Google Tower

AUSTIN – The CBRE firm is moving its Austin office to the new 500 West 2nd building, a 29-story downtown tower about a block north of Lady Bird Lake. The 500,000-SF tower, slated to open in 2017, will be anchored by Google. The new office is part of CBRE’s global “Workplace360” initiative, the company’s cutting-edge approach to workplace strategy “designed ... Read More »

CVS Pharmacy Leases Space in New 40-story Downtown Residential High-Rise

HOUSTON – Woodbranch Investments Corp. announced that CVS Pharmacy will be the first retailer located in Market Square Tower, the new 40-story high-rise multi-family apartment building, the tallest residential tower in downtown Houston.. Located at 777 Preston St. in Downtown Houston’s Theater District, the high-rise apartment tower has 463 units. The new 13,000 SF CVS new store will be located ... Read More »

Johnson Teams With Tricon to Buy 1,700-Acre Master Planned Community

McKINNEY, Texas – A partnership of The Johnson Development Corp. and Tricon Capital Group Inc. has purchased the McKinney, Texas master-planned community of Trinity Falls, the newest and largest master-planned development in Collin County near Dallas. Houston-based Johnson Development and Tricon purchased the 1,700-acre community from Castle Hill Partners, an Austin private investment firm. Upon full build-out, Trinity Falls will ... Read More »

The New Secret Formula for Mixed-Use Developments

NEW ORLEANS – Mixed-use communities today are to Millennials what golf courses were to baby boomers two decades ago, according to Mark Toro, Managing Partner of Cincinnati-based North American Properties who has created, or recreated, a number of phenomenally successful mixed use projects including Atlanta’s Atlantic Station, a mix of retail, residential and high-rise office buildings and Avalon a $600 ... Read More »

Transwestern Development Starting Micro-Unit Millennial Multifamily Project in Austin

AUSTIN – Transwestern Development Co. will break ground in June on the Indie Apartments, a micro-unit community at 1648 E. Sixth St. in Austin. Transwestern Development Co. will construct the 139-unit community with a 2,500-SF restaurant in East Sixth, a thriving entertainment district just east of downtown Austin. The 55,814-square-foot property will have 350-SF studio units and 520-SF, two-bedroom units. ... Read More »

Midway Plans Another 750,000 SF of Office in West Houston as New Tower Opens 75 Percent Leased

HOUSTON – Midway Cos., which has just opened its fifth office building in its CityCentre mixed-use development west Houston, is seeking tenants for two additional office towers on the northern edge of the project. The two new office towers, totaling 750,000 SF, will be built near Interstate 10, part of a northward expansion of CityCentre, which includes office, retail, hotels, ... Read More »

High-Rise Apartments Rising Fast on Texas Skylines

(By Dale King) The skylines of downtown Houston, Dallas and Austin will shortly be taking a definite upward look with an increasing number of new high-rise apartment buildings being planned and under construction, says the CBRE Group commercial real estate services firm. “The demographic cohorts in this driver’s seat are swelling ranks of millennial renters and the oncoming senior tsunami ... Read More »

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