Wednesday , 22 January 2020
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Embrey Starts Transit-Oriented Multifamily near Dallas

RICHARDSON, Texas — San Antonio-based Embrey Partners, Ltd. has started construction on GreenVUE, transit-oriented development on Greenville Avenue in Richardson, Texas’ Telecom Corridor, near Dallas. “As the most significant and unique high-tech business concentrations in Texas, Telecom Corridor is a particularly exciting development for us,” said Trey Embrey, president of Embrey Partners. The community is scheduled for completion in 2015 ... Read More »

Parallel & Zell Group Buy San Diego Project for $73 Million

SAN DIEGO  – Expanding its San Diego footprint and adding nearly 300,000 square feet to its portfolio, Parallel Capital Partners has acquired a three-building Class A office complex in Sorrento Mesa – San Diego’s premier technology hub – for $72.5 million. Parallel purchased the project, known as Wateridge Plaza, in a joint venture with Equity Group Investments, a Chicago-based private ... Read More »

USAA Buys Huge Refrigerated Warehouse

STOCKTON, Calif. — USAA Real Estate Co. has acquired 916,000 square feet of industrial space – including a massive freezer – in Stockton in California’s Central Valley, the fastest growing region in California. CBRE’s Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane, represented San Antonio-based USAA in buying  the two buildings, with adjacent land. Building 1 features 30,000 ... Read More »

Tallest Tilt-Wall in Texas Tops Out

THE WOODLANDS – The Tallest Tilt-Wall in Texas has topped out. Stream Realty Partners has hoisted the final panel in place for what the company says is the first six-story tilt wall office building in Texas. The 154,000-sf structure is a Class A office building with high-end finishes, abundant exterior glass and a large exterior courtyard/garden with a fountain, says ... Read More »

Fracking Play: 3,000 Units Sold in Permian Basin, Where Multifamily Occupancy is 97 Percent

MIDLAND, Texas – The Related Cos.’ Related Real Estate Recovery Fund has purchased 3,128 apartment units, primarily located in the Permian Basin of West Texas. An affiliate of Pivotal Group sold the 3,128 apartment units –  a 21-apartment community portfolio located in Midland, Odessa and Longview, Texas. The portfolio has been extensively renovated since it was acquired a little more ... Read More »

Houston Home Buying Binge Continues

HOUSTON – Houston homes sales were up 8.3 percent in February, compared to February of 2013, as home prices rose to record-setting levels last month, the Houston Association of Realtors reported. With inventory at record lows, the average single-family home price was up more than 12 percent from a year ago, Houston Association of Realtors reported. “I think prices will ... Read More »

Avera Breaks Ground on Huge Distribution Facility Near the Port of Houston

HOUSTON – Avera Cos., a Texas-based real estate development firm, has broken ground on a massive distribution center at the Port of Houston. The project, called 225 RailPort, is located on 47 acres at Beltway 8 and Highway 225, will be one of the largest rail-served properties in southeast Texas. Frontier Logistics, which services the plastics industry, will occupy the ... Read More »

Energy Corridor Office Building Sold

HOUSTON – HFF handled the sale of Gulf Plaza, a six-story, 120,651-sf, single-tenant office building in Houston’s Energy Corridor, which is one of the strongest submarkets in the nation. Class A space in the Energy Corridor is 99 percent occupied and a number of office projects are under construction there. HFF marketed the property on behalf of the seller, Hartman ... Read More »

Hotel to be Built Next to New Exxon Mobil Campus in Houston

HOUSTON – The gigantic new Exxon Mobil campus, scheduled to open its first office building next month, continues to generate activity on the north side of Houston. The latest: Woodbine Development and InterMountain Management (IMM) announced they have purchased 3.25 acres in Springwoods Village to develop an extended-stay hotel. The new hotel, a 128-room Residence Inn, is scheduled to open ... Read More »

Houston Leads Nation with a 70 Percent Increase in Office Rental Rates in Recent Years, JLL Reports

HOUSTON – Houston has led the nation in skyscraper rental increases, with its trophy office properties rents rising 70 percent since 2005, according to a new report by JLL. San Francisco was second with a 69 percent trophy-office rental increase, followed by Austin at 54 percent, Denver at 52 percent and Salt Lake City at 50 percent. “Bottom line: It’s ... Read More »

ABS Leases Greenspoint Space as Exxon Mobil Vacates the Area

  HOUSTON – American Bureau of Shipping has renewed its lease in Greenspoint Place, a north Houston office complex that has been the home of Exxon Mobil. The ABS will lease  that  for 228,254 square feet, expanding by 30,481 square feet, making their total leased space 258,735 square feet. The renewal and expansion encompasses the entire ABS Plaza building (16855 ... Read More »

Houston Gains 91,300 New Jobs in Last 12 Months

HOUSTON  — Houston gained 91,300 new jobs over the last 12 months, the Texas Workforce Commission reported Friday. The results, measuring job creation between January 2013 and January 2104, highlight the fact that the energy industry and virtually every sector of the Houston area economy is surging. Houston’s unemployment rate dipped to 5.7 percent in January, the lowest since November ... Read More »

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