Realty News Report Covering Commercial and Residential News
HOUSTON – (By Dale King, Realty News Report) – Rent prices in the city of Houston have basically flat-lined for the past 12 months. And while prices nudged up slightly in April, May and June, Houston’s year-over-year rent rate growth of just 0.5% lags far behind the Texas state average of 1.7% and the national average of 1.6%. Currently, says ... Read More »
Pollack Shores Begins Texas Multifamily Development Efforts
DALLAS – (Realty News Report) – Multifamily developer and investment firm Pollack Shores Real Estate Group acquired land at 4302 Ross Avenue in Old East Dallas where it will build a multifamily community. This project marks a continuation of the company’s expansion into Texas that began several years ago with the purchase of several existing communities in Dallas and Austin. ... Read More »
New Office Development Breaks Ground in Katy – Spec Project to Rise West of Houston
HOUSTON – (Realty News Report) – Freeway Properties has broken ground on a 150,920 SF office building along Interstate 10 near the Grand Parkway, in the Katy area west of Houston. The building, which is the second phase of Freeway Properties’ Katy Ranch Offices development, is slated for completion in the summer of 2020. Avison Young principals Sam Hansen and ... Read More »
ZXP Technologies Leases Space in Baytown
HOUSTON – (Realty News Report) – Avison Young negotiated the lease of 89,445 SF of industrial space for ZXP Technologies at 2700 East Freeway in Baytown, on the east side of the Houston. Avison Young principal Bob Berry and vice president Grant Hortenstine represented the tenant, ZXP Technologies. JLL represented the landlord, Pontikes Development. “As the energy market continues to improve, companies ... Read More »
Prime West Loop Parcel Ignites a City Hall War
A fiery 5-hour City Hall melee. Affluent Bellaire residents dressed in sloganized T-shirt uniforms. Distrust. Anger. Accusations. At stake: 30 acres of prime property on the West Loop. In the open market, the land would be appropriate for a mixed-use project that could rival Gerald Hines’ Galleria, which is just a mile or two away, Acquired last year by SLS ... Read More »
Inside the Shell of an Old Sears Store, Innovation Springs Forth in Midtown
HOUSTON – (By Ralph Bivins of Realty News Report) – A hub of innovators. Brilliant tech people work there. Venture capitalists roam the halls. Entrepreneurship drips from the ceiling. In a modern looking cafe, an egghead from Stanford and a nerd from MIT are huddled together over cups of bitter coffee. And you’re pretty sure that by the time they ... Read More »
Spring Retail Center Underway
HOUSTON – (Realty News Report) – Construction has begun on Spring Plaza, a retail center at the corner of Spring Stuebner Road and Spring Plaza Drive on the north side of Houston. Capital Retail Properties is leasing the 13,000-SF center, which was designed by CDA Architects. The center, located south of the Grand Parkway and west of Interstate 45, is ... Read More »
The Fate of a Prime 30-Acre Tract on Loop 610 in Bellaire: Another Galleria or Just Ho-Hum?
BELLAIRE, Texas – (By Michelle Leigh Smith for Realty News Report) – The developer of the former Chevron property in Bellaire has presented his ambitious plan to Bellaire’s Planning & Zoning Commission. As previously reported in an exclusive story by Realty News Report, the plan calls for a 300-unit mid-rise residential tower atop a new parking garage, a movie theater, a 145,000-SF mixed-use building with office space ... Read More »
Oil and Office Towers: What Will It Take For Houston’s Office Market to Fully Recover?
HOUSTON – (By Kyle Hagerty for Realty News Report) – Houston’s office sector, which in recent years has been struggling to fill space thanks to a decline in oil prices, is well on the road to recovery thanks to drillers finally increasing production as the price per barrel creeps upward. For Houston to say it’s fully recovered, offshore operations, which ... Read More »
A Redo of the Riverway Buildings
HOUSTON – (Realty News Report) – Unilev Management, Azrieli Group and CBRE announced the completion of a major renovation of the One and Three Riverway buildings in the Riverway/Galleria/Uptown area of Houston. Ziegler Cooper Architects designed the redevelopment program. The building have upgraded lobbies, fitness centers and other upgrades. To enhance the tenant experience, the new design also incorporates collaborative seating ... Read More »
The Biggest Deal in the History of Self Storage: 3.2 Million SF Sold
HOUSTON – (Realty News Report) – Newmark Knight Frank has completed a 50-property self-storage portfolio sale, the largest self-storage property deal in the history of real estate investing. The acquisition by SROA Capital Fund VII, L.P. includes 21,787 storage units containing a total of 3,150,819 SF of rentable space. Located in six states – Tennessee, Georgia, North Carolina, South Carolina, ... Read More »
Backfill Bonanza: Retailers Making Moves on Second Generation Space
HOUSTON – (By Dale King, Realty News Report) – Normally, there’s very little good to say about a store – or, worse, a chain of them – going out of business. Too many “Store Closing” signs are seen these days at malls and strip plazas, the result of outmoded marketing concepts, internal and/or external financial woes or, mainly, the growing ... Read More »
