Realty News Report Covering Commercial and Residential News

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 »

HOUSTON – (By Dale King, Realty News Report) – Houston’s retail market racked up some pretty impressive numbers in the final quarter of 2018. But even by then, dark clouds were beginning to gather on the horizon. The Bayou City’s “retail sector ended 2018 strong with increased activity and a low vacancy rate of 5.3%,” says a report compiled by ... Read More »

BELLAIRE, Texas – (By Michelle Leigh Smith for Realty News Report) – Redeveloping one of the oldest shopping centers in the Houston area means losing some familiar tenants and getting new ones.  Bellaire Town Center, owned by the Shears family’s SDI Realty, has stood at the corner of Bellaire and S. Rice for almost seven decades. The centrally located shopping and ... Read More »

HOUSTON – (Realty News Report) – Charming Charlie, a Houston-based retail chain, has emerged from Chapter 11 bankruptcy after closing about 100 stores. “Today marks a fresh start for Charming Charlie as we emerge as a stronger, more focused organization that is better positioned to serve customers in our 264 stores across the country,” said Lana Krauter, Chief Executive Officer ... Read More »

HOUSTON – Fiesta Mart, a Houston-based grocery chain with 63 stores, is being acquired by Groupo Comercial Chedraui, a Mexico-based retailer, for $300 million. Chedraui already has 60 grocery stores in California and other states operating under the El Super brand name. The addition of Fiesta Mart makes the chain a strong national force in selling groceries to the Spanish-speaking ... Read More »

THE WOODLANDS, Texas – (Realty News Report) – The Howard Hughes Corp. recently broke ground on Lake Woodlands Crossing, a 62,565-SF retail center in The Woodlands Town Center. Lake Woodlands Crossing is located at the northeast intersection of Lake Woodlands Drive and Grogan’s Mill Road. Arch-Con Construction is the general contractor. CDA Architects designed the center, slated for completion late ... Read More »

HOUSTON – Charming Charlie, a Houston-based retail chain, plans to close a number of underperforming stores and reduce employee headcount at its Houston Corporate Support Center and Distribution Center. “By reducing the size and scale of our operations, we have the opportunity to stabilize the business,” Interim CEO Lana Krauter said in a press release. “We are working closely with ... Read More »

HOUSTON – Wu Investments, a Houston-based retail developer, has acquired Eldridge Lakes Town Center, a 36,000-SF retail center in northwest Houston at 6350 North Eldridge Parkway. The seller was Edifis Group. Wu is currently developing three retail properties in Houston. Its portfolio includes retail properties in Texas and Ohio. The Eldridge center, located 21 miles northwest of downtown Houston, is ... Read More »

HOUSTON – The NAI Investment Fund has acquired the Spring Park Village retail center from MetroNational Corp. The 76,409-SF Spring Park Village retail center is located on the north side of Houston at the intersection of Interstate 45 Cypresswood Dr, south of the Grand Parkway. The center is the first retail property acquired by the fund, which is the investment ... Read More »

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 »