Realty News Report Covering Commercial and Residential News

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 »

HOUSTON – The Houston office market – the primary casualty of the oil bust – appears to be in a recovery mode following a couple of rough years, according to the President of Colliers International Houston. “We are comfortable that the bleeding has stopped,” said Patrick Duffy, head of the Houston office of the commercial real estate firm. Duffy, speaking ... Read More »

HOUSTON – The Houston office market, although there are positive signs that healing is on the way, will see an increase in the overall vacancy rate in 2017, according to the Newmark Grubb Knight Frank real estate firm. After ending 2016 with a 19.6 percent office vacancy rate, the Houston market will see a slight increase to 20.1 percent by ... Read More »

THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has selected the most significant people, projects, deals and ideas of the Houston real estate market for 2016. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments. LEGEND: DEAL OF THE ... Read More »