Realty News Report Covering Commercial and Residential News

THE WOODLANDS – (Realty News Report) – Mohr Capital, a Dallas-based real estate investment firm, has acquired the 7 Leguas Mexican restaurant property in The Woodlands for a redevelopment project The redevelopment plan includes razing the 7 Leguas Restaurant building of FM 1488 and developing a freestanding structure consisting of a Chipotle Mexican Grill restaurant and a Regions Bank branch office. ... Read More »

HOUSTON – (Realty News Report) – Houston restaurant and casino magnate Tilman Fertitta, has lost about a third of his wealth, or approximately $2 billion, in the last month due to the coronavirus outbreak, according to Bloomberg News. Feritta, who had a net worth of more than $5 billion last month, has dropped off the rankings of the 500 wealthiest ... Read More »

HOUSTON – (Realty News Report) – Weingarten Realty Investors, a Houston-based shopping center REIT, has withdrawn its outlook guidance because of uncertainty stemming from the coronavirus pandemic. Retailers have been shuttering stores temporarily or indefinitely as a response to the pandemic. Analysts say the COVID-19 outbreak will be extremely tough on restaurants, which may not be able to survive. An ... Read More »

HOUSTON – (Realty News Report) – Radom Capital has received $104,750,000 in financing for the Montrose Collective, a mixed-use project under development near the intersection of Montrose Boulevard and Westheimer. JLL worked on behalf of the borrower, Radom Capital, to secure the construction loan with Bank OZK and joint venture equity from institutional investors advised by J.P. Morgan Asset Management. ... Read More »

HOUSTON – (By Kyle Hagerty for Realty News Report) – Houston’s retail real estate sector may be as strong as it has ever been. CBRE reports 2019 was one of the strongest years on record for Houston’s retail real estate market, with occupancy remaining high, despite robust new construction. About 4.4 million SF of new retail-space was delivered in 2019, ... Read More »

HOUSTON – (Realty News Report) – CBRE has been retained to identify operators to lease the 8,547 SF restaurant space that will be built as part of the redevelopment of Jones Plaza in downtown Houston’s Theater District. Houston First Corp., a governmental corporation which operates the city’s performance halls, convention center and the Hilton Americas convention hotel, is overseeing a ... Read More »

HOUSTON – (Realty News Report) – CJ Development has purchased 43 acres of land located near the intersection of the Grand Parkway and West Bellfort in Richmond. CJ Development, which controls 15 adjacent acres, will develop a mixed-use development that is expected to include retail, restaurant, medical, fitness, and other business enterprises. The new development, named Grand Center at Long ... Read More »

HOUSTON – (Realty News Report) – Today, America’s warehouses are experiencing the backwash from the e-commerce boom. January 2 will be the peak day for merchandise returns with an estimated 1.9 million packages heading back from buyers to sellers on this day alone, according to a new CBRE report. The wave of returns requires a great deal of warehouse space. ... Read More »

PEARLAND, Texas – (Realty News Report) – TIG Real Estate Services has sold a mixed-use center Pearland, a high-growth suburb south of Houston. The JLL Capital Markets team representing the seller consisted of Senior Managing Director Dan Miller, Director John Indelli and Analyst Bryan Strode. “Investor sentiment for real estate in Pearland, one of the fastest-growing markets in Houston, continues to ... Read More »

HOUSTON – (By Kyle Hagerty for Realty News Report) – Seven new food options are coming to the Texas Medical Center, known for its lack of eateries  despite a work force that numbers over 100,000 employees and the millions of patients that are treated annually. Pearl Hospitality’s Westin Houston Medical Center is set to open in early 2020. The new ... Read More »

HOUSTON – (Realty News Report) – Retail veteran Eric Lestin, formerly of CBRE, has joined Cushman & Wakefield to lead the firm’s newly formed Retail Services Group. Lestin will create a retail tenant representation team and develop other related disciplines. Cushman & Wakefield’s executive vice chairman Tim Relyea said Lestin has “one of the best retail real estate minds in ... Read More »

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 »