Realty News Report Covering Commercial and Residential News

HOUSTON – (Realty News Report) – On Wednesday, July 17, 2018, Hines and partner Ivanhoé Cambridge, announced construction of a new, 47-story, 1 million-SF office tower on the former site of the Houston Chronicle building downtown. While law firm Vinson & Elkins, signed a lease for 212,000 square feet and Hines will take 155,000 square feet, the new construction occurs ... Read More »

HOUSTON – (Realty News Report) Hines has announced plans to start development on downtown Houston’s next skyscraper – a 1 million-SF tower built on the former site of the Houston Chronicle building, which has been demolished. Hines, a real estate development firm founded in Houston in 1957, will move its own headquarters into the new 47-story building, leaving the Williams ... Read More »

DALLAS — (Realty News Report) – The City of Dallas and Billingsley Company, developer of Cypress Waters, announced that Nokia signed a lease for 350,000 SF to consolidate its Dallas-Fort Worth Metroplex operations and move its North American headquarters to Cypress Waters. Nokia will occupy two buildings in The Sound at Cypress Waters – the new lakefront, mixed-use neighborhood with ... Read More »

HOUSTON – (Realty News Report) –  Simmons & Company International | Energy Specialists of Piper Jaffray leased  31,000 SF at 609 Main at Texas, the new 48-story office tower developed by Hines in downtown Houston. Simmons, an investment banking and financial advisory firm, will move into the  1,073,075-SF building this fall. Michael Anderson and Damon Thames with Colvill Office Properties ... Read More »

HOUSTON – (By Ralph Bivins, Realty News Report) – Brookfield Property Partners has finalized its acquisition Houston Center, a collection of four downtown skyscrapers and a 200,000-SF retail center. The $875 million sale of the 4.2 million SF Houston Center is one of the biggest real estate transactions ever completed in Houston. Brookfield is expected to spend heavily – well ... Read More »

HOUSTON – (Realty News Report) – Stewart Title has leased 156,000 SF of office space in the Four Oaks Place complex for its near headquarters location. Stewart’s new offices will be subleased from BHP Billiton at 1360 Post Oak Boulevard in the Uptown Houston area. The move will occur at midyear 2019. “Stewart’s associates drive the company’s growth and it’s ... Read More »

HOUSTON – A 50,000-gallon rainwater harvesting cistern will be installed – along with  a green rooftop park – at the new Skanska skyscraper under construction in downtown Houston. The captured water will be used to sustain the 24,000-SF Sky Park at Capitol Tower, which will be located on the 12th story above street level. OJB Landscape Architecture designed the park, ... 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 – 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 »

DALLAS – After more than three decades, an iconic building in Dallas is reinventing itself — and its success could have valuable lessons for commercial property owners and developers throughout Texas. Atlanta-based owner Goddard Investment Group is spending $70 million to renovate the 60-story Fountain Place, a signature part of the city’s skyline with its green glass “rocket” design. Originally known as Allied Bank Tower, the 1.2 million-square-foot ... Read More »

HOUSTON – Houston has the largest supply of sublease office space in the nation, according to a new report by CBRE Research. Houston had an 11.1 million SF of sublease space on the market at year-end. Boston ranked second with 4.8 million SF of sublease supply, followed by Manhattan at 3.8 million SF. The oversupply of sublease space, which is ... Read More »

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 »