Realty News Report Covering Commercial and Residential News
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 »
Evictions Halted: Camden’s COVID-19 Plan to Assist Residents in Its 56,000 Apartment Units
HOUSTON – (Realty News Report) – Camden Property Trust, a Houston-based multifamily REIT that owns 164 apartment communities with 56,000 units around the nation, is halting evictions for residents who have been financially impacted by the COVID-19 pandemic. Camden has closed its leasing offices to the public and is limiting in-person contact by offering virtual tours, online and phone support, ... Read More »
Houston’s Asian-American Chamber of Commerce Donates Masks, Medical Supplies to City for COVID-19 Effort
HOUSTON – (Realty News Report) – The Asian American Chamber of Commerce has donated over $42,000 in medical supplies to the City of Houston following our urgent calls for personal protective equipment. “We as a collective body, including Chinese-American, Korean-American, Vietnamese-American, Japanese-Americans, Filipino-Americans and the various other AAPI ethnicities, are in support of helping Houston through this challenging crisis and ... Read More »
HAR’s Bob Hale says Houston Realtors are ‘Essential’ and Should Be Exempt From Stay-At-Home Order; Harris County Leaders Agreed
HOUSTON – (Realty News Report) – Real estate sales agents perform an “essential” service and should be exempt from the Harris County stay-at-home order, says Bob Hale, president and CEO of the Houston Association of Realtors. The Harris County Commissioners Court agreed and included Realtors in the list of businesses and workers who may continue to operate during the stay-at-home ... Read More »
Tilman Fertitta Furloughs 40,000 Employees From Restaurant, Hotel and Casino Empire
HOUSTON – (Realty News Report) – Houston billionaire Tilman Fertitta, who owns the Golden Nugget casinos, several hotels and hundreds of restaurants has temporarily furloughed 40,000 employees, according to Bloomberg News. Fertitta told Bloomberg he is losing millions of dollars every day because of governmental shut-down orders issued as part of the coronavirus pandemic. His restaurants that have been operating ... Read More »
COVID-19’s Impact on Weingarten Realty Investors
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 »
NMHC Apartment Association Suggests 90-Day Moratorium on Evictions and Rent Increases
WASHINGTON, D.C. – (Realty News Report) – The National Multifamily Housing Council (NMHC), a major apartment industry group, has recommended a halt to evictions and rent increases for the next 90 days due to the COVID-19 outbreak. NHMC recommends apartment firms consider adopting the following principles to help America’s renters retain their housing during this crisis. Halt evictions for 90 ... Read More »
Chicago Investor Pays $115 Million for Building in The Woodlands
THE WOODLANDS – (Realty News Report) – An affiliate of Chicago-based Harrison Street Real Estate has acquired a medical building occupied by MD Anderson Cancer Center for $115 million. The seller of 208,000-SF building, 100 Fellowship Drive near Highway 242, was Howard Hughes Corp., the developer of The Woodlands. Paul Layne, CEO of Howard Hughes Corp., said the transaction is ... Read More »
Realtors Discourage Open Houses; HAR.com Website Drops Open House Notices Due to Coronavirus
HOUSTON — (Realty News Report) — The HAR.com website, which carries listings of thousands of homes for sale across Texas, has suspended the display notices of open house events due to the coronavirus outbreak. Most of the national real estate franchises and many large brokerage firms have either cancelled all in-person open houses or are strongly encouraging their agents not to ... Read More »
RNR Real Estate Briefs
HOUSTON – (Realty News Report) – Prime Natural Resources leased 23,782 SF in an office sublease at the former One Shell Plaza, 910 Louisiana St., Houston from Shell Oil Co., the landlord. NKF’s Michael Lisch, John Luck and Joshua Brown handled the deal. ………………………………………………….. Reed Vestal, Taylor Schmidt and John Erck of Lee & Associates – Houston represented 290 Commerce Center Venture, LLC, in the purchase ... Read More »
Schweitzer Engineering Leases Space in Westchase
HOUSTON – (Realty News Report) – Schweitzer Engineering Laboratories leased 43,568 SF at Oak Park Office Center – 5850 Rogerdale Road in the Westchase area in West Houston. Cushman & Wakefield’s Chad Beck represented the tenant. Lincoln Property Company’s Charlie Giammalva and Brian Strait represented the building owner. Schweitzer Engineering Laboratories, Inc. designs, manufactures, and supports products and services ranging ... Read More »
Energy Firm Signs Major Office Lease in The Woodlands
THE WOODLANDS – (Realty News Report)- Western Midstream Partners leased 133,948-SF — the top five floors of 9950 Woodloch Forest Drive, a prime office building in The Woodlands that had been occupied by Occidental Petroleum and Anadarko Petroleum. The 31-story tower is one of two premier Class AAA office towers and recently rebranded The Woodlands Towers at The Waterway. As ... Read More »
