Realty News Report Covering Commercial and Residential News
Houston’s Buffalo Bayou, regarded as a park around downtown, has been named one of the Great Places in America by the American Planning Association. The organization’s Great Places in America recognizes unique and exemplary streets, neighborhoods, and public spaces – three essential components of all communities. These authentic places have been shaped by forward thinking planning that showcases diverse architectural ... Read More »
Hines/Oaktree Venture Buys Vegas Buildings for $120 Million
LAS VEGAS — The Houston-based Hines real estate firm and Oaktree Capital Management of Los Angeles had purchase 32 buildings in Las Vegas for $120 million or $109 per sf, according to Real Estate Alert. The buildings are in the Summerlin master-planned community, one of the largest projects in the nation. Located on 13 separate campuses in Summerlin, the institutional-quality ... Read More »
Hanover to Develop Apartments near Houston’s Kirby Drive
HOUSTON — Hanover Co. has acquired old Bissonnet Village apartment complex, which will be torn down and replaced with new multi-family construction. The 4.3-acre site is just west of Kirby Drive, on the north side of Bissonnet in the Inner Loop area of Houston. Stan Creech Properties handled the sale of the property. Hanover will construct 434 units on the ... Read More »
Top Chefs Anchor New Office Tower in Houston
The city’s top chefs are eyeing restaurant spaces that will be culinary anchors of a new office tower under construction near the Galleria. The building is the 22-story BBVA Compass Plaza, an office tower that will be completed next year. Chef John Sheely, owner of Houston’s Mockingbird Bistro, has leased 4,000 square feet in the building, which is located at ... Read More »
KKR in JV with Hines to Develop $900 Million Houston Business Park
HOUSTON – Hines has formed a joint venture with KKR & Co., the private equity firm founded by Henry Kravis and George Roberts, to develop the Pinto Business Park, a 971-acre project located at the southwest corner of Beltway 8 and Interstate 45 in Houston. The business park is owned by Pinto Development Realty Inc. At build-out, Pinto Business Park is ... Read More »
Tamlyn Brokers Sale of Northline Retail in Houston
HOUSTON –Northline Commons, a 478,584-sf retail power center in Houston, has been sold, according to HFF. Northline Commons is a redevelopment of the Northline Mall that was originally built in the 1960s. Completed in 2009, the new center is 86 percent leased and anchored by Marshalls, Ross Dress for Less, Burlington Coat Factory, Conn’s and Palais Royal. The property is ... Read More »
Thomas Properties and CalSTRS Buy 3 Million-SF Austin Portfolio
AUSTIN – Thomas Properties Group and California State Teachers’ Retirement System (CalSTRS) have jointly acquired an eight-building, 3 million-sf portfolio of office properties in downtown and suburban Austin. The Austin portfolio includes five downtown Austin properties known as Frost Bank Tower, 300 West 6th Street, One American Center, San Jacinto Center and One Congress Plaza, as well as three suburban ... Read More »
Behringer Harvard Starts Office Tower in Houston with Samsung Pre-Lease
HOUSTON –Behringer Harvard REIT I will develop a 12-story office tower in Houston’s Westchase District. The 332,000-sf building, Two BriarLake Plaza, will be constructed on a 1.5-acre site at the corner of W. Sam Houston Parkway and Briar Forest Drive. Half the space has been preleased to Samsung Engineering America for its North American headquarters. Samsung Engineering America Inc. was represented in ... Read More »
Houston Home Sales Hit 5-Year High
By Ralph Bivins August was the best month for Houston home sales in five years and inventory dropped to a 10-year low, the Houston Association of Realtors reported. Low mortgage rates and a strong local economy combined to lift the real estate market. The Realtors association reported 6,600 single-family homes were sold in August, the highest monthly sales total since ... Read More »
CBRE to Market Galleria Building In Houston
Houston — CBRE has been retained by Pearlmark Real Estate Partners, Easton, Cobb, and Perez as the exclusive marketing advisor for the acquisition opportunity of 1800 West Loop South, a 21-story, 400,000-sf office tower in the Galleria submarket near San Felipe Road. The building, which is 89 percent leased, is expected to fetch around $75 million, according to Real Estate ... Read More »
Apartment Land Prices Double in Texas
HOUSTON – Apartment developers are paying higher prices to acquire sites for new projects. Prices for multi-family development sites in major Texas markets, such as Houston, Dallas and Austin, have doubled since the beginning of 2010, according to Deal Sikes & Associates, a Houston-based commercial real estate valuation firm. Since vacant land is a rarity in these popular infill locations, ... Read More »
Beacon Buys 3 Buildings in Houston’s Energy Corridor
HOUSTON – Beacon Investment Properties purchased a three-building office portfolio totaling 566,308 square feet in Houston’s Energy Corridor. HFF marketed the property on behalf of sellers Falcon Southwest and CarVal Investors. The portfolio consists of three “best of class” Class B, multi-tenant office buildings located in Houston’s Energy Corridor at the intersection of Interstate 10 and Dairy Ashford Road across ... Read More »
