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Category Archives: Office

Houston has 51 Million Square Feet of Vacant Office Space – Can It Ever Be Filled?

HOUSTON – (Realty News Report) – Houston has 51.1 million SF of vacant office space, according to a third quarter report by NAI Partners. The city’s office vacancy problem was amassed following an energy industry downturn and layoffs in the energy workforce. Houston, which has a total of 236 million square feet of existing office space, has a 21.6 percent ... 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 »

Law Firm Leases Space in Hines Tower in Downtown Houston

HOUSTON – (Realty News Report) – Hines, the international real estate firm, announced that Dallas-based law firm Shackelford, Bowen, McKinley & Norton has signed a new 15,000-square-foot lease at 717 Texas, a downtown tower near the Theater District. Hines recently completed a renovation to the 33-story building creating a hospitality-inspired lobby with new furnishings, wall and elevator finishes, lighting and security console upgrades. ... Read More »

With Rainwater Collection and Rooftop Garden, New Houston Skyscraper Ranked as One of Most Sustainable Towers in the World: LEED Platinum

HOUSTON – (Realty News Report) – A new 35-story office building in downtown Houston has been awarded LEED Platinum status, a certification indicating it is one of the most sustainable and energy-efficient skyscrapers in the world. The Bank of America Tower, a 780,000-SF office building at 800 Capitol, uses 32 percent less energy than typical towers, according to Skanska USA ... Read More »

Why Did Northridge Capital Make a Huge Office Acquisition in North Houston?

HOUSTON – (By Ralph Bivins, Editor of Realty News Report) – One of Houston’s biggest office deals of 2019 was completed with an investment narrative based on need of corporations to attract and retain talent, says an acquisitions executive for Northridge Capital LLC. Northridge Capital, based in Washington, DC, recently acquired the new HP Plaza, a 378,000-SF office development in ... Read More »

Impacting an Office Market: Chevron’s $33 Billion Acquisition of Anadarko – Could it Create More Vacancy?

THE WOODLANDS – (Realty News Report) – Chevron Corporation’s move to acquire Anadarko Petroleum for $33 billion could have some aftershocks on the Houston real estate market. Anadarko occupies a lot of office space in The Woodlands – two major towers named after iconic company leaders – the 32-story Allison Tower and the 31-story Hackett Tower. The buildings are on ... Read More »

The Food Hall Explosion: Chefs are the Hottest New Amenity for Skyscraper Owners

HOUSTON – (By Ralph Bivins, Realty News Report) -Ancient Houstonians may remember when Sharpstown Mall on the Southwest Freeway opened a new-fangled food court. Food courts, with their lineup of fast-food chains and the hideous odor of deep-fat fryers brimming with broiling grease, still exist. But you don’t hear the words “food court” much anymore. Everybody is talking about the ... Read More »

Oilfield Products Firm Leases 109,000 SF for Headquarters in Northwest Houston

HOUSTON – (Realty News Report) – Forum Energy Technologies has renewed its lease for 108,639 SF at 10344 Sam Houston Park Drive in Houston for its global headquarters. Transwestern’s  Doug Little and Louann Pereira provide leasing services for the landlord, Buchanan Street Partners. Sam Houston Crossing II is a 159,056-SF, Class A office building has frontage on Sam Houston Tollway ... Read More »

Oil Out; Tech In — Some Positive News for Greenway Plaza

HOUSTON – (Realty News Report) – A trio of new tenants are further enriching an emerging tech and innovation ecosystem at Houston’s Greenway Plaza, the urban, 52-acre campus, operated by Parkway Property Investments, LLC  and located near the Southwest Freeway and Buffalo Speedway. The announcement comes after Greenway Plaza digests a string of bad news about tenants leaving Greenway Plaza, ... Read More »

New Office Tower Breaks Ground in Houston’s Inner Loop

HOUSTON – (Realty News Report) – Stonelake Capital Partners held a ground breaking celebration Wednesday for Park Place Tower, a 15-story, 210,000-SF Class-AA office building located “inside the loop” at 4200 Westheimer Road within the Park Place | River Oaks development. Park Place | River Oaks is an 11.5-acre mixed-use development at the intersection of Westheimer Road and Mid Lane in ... Read More »

Houston’s Emerging Future: Q&A with Dan Bellow of JLL

HOUSTON – (Realty News Report) – Houston is at a cross roads. The office market is still recovering from the energy slump. The energy sector, battered by price fluctuations over the past several years, seems to be stabilizing. The Texas Medical Center, a pillar of the city’s economy, is expanding. What does this all mean for the future? Realty News ... Read More »

Hines’ New Skyscraper and the Future of Downtown Houston: Q&A with Tim Relyea of Cushman & Wakefield

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 »

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