Realty News Report Covering Commercial and Residential News
HOUSTON – (By Ralph Bivins of Realty News Report) – Currently gathering dust, the Eighth Wonder of the World will soon be surrounded by the smell of fried pickles and the pleasant, soothing sounds of carnival rides associated with the Houston Livestock Show and Rodeo. For about a month, the Rodeo dominates what was formerly the Astrodome’s parking lot and ... Read More »
Radom Capital Receives $104.75M in Financing for Montrose Mixed-Use Project
HOUSTON – (Realty News Report) – Radom Capital has received $104,750,000 in financing for the Montrose Collective, a mixed-use project under development near the intersection of Montrose Boulevard and Westheimer. JLL worked on behalf of the borrower, Radom Capital, to secure the construction loan with Bank OZK and joint venture equity from institutional investors advised by J.P. Morgan Asset Management. ... Read More »
Laura Hines-Pierce Named Hines’ Senior Managing Director – Office of the CEO
HOUSTON – (Realty News Report) – Hines, the international real estate firm based in Houston, announced that Laura Hines-Pierce has been promoted to Senior Managing Director – Office of the CEO. Ms. Hines-Pierce is the granddaughter of master developer Gerald D. Hines, who founded the company in Houston in 1957. In her new role, Ms. Hines-Pierce will work alongside President and CEO ... Read More »
Real Estate Briefs – Houston, Dallas, Austin, San Antonio
HOUSTON – (Realty News Report) – CBRE Capital Markets Debt & Structured Finance has secured $16.1 million in bridge financing for Sugar Land Physicians Center, a 56,063 SF medical office building at 7616 Branford Place in Sugar Land. Dana Summers, Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell and Jim Korinek of CBRE arranged the loan on behalf of the borrower, American Commercial Contractors, LLC. Money360 provided the ... Read More »
Logistics Property Developing 1.7 Million SF in Southwest Market
HOUSTON – (Realty News Report) – Chicago-based Logistics Property Co. is developing CityPark Logistics Center, a 97-acre business park that will have 1.7 million SF in seven buildings in Missouri City on the southwest side of the Houston area. Phase I is currently under construction and scheduled for completion in the fourth quarter of 2020. Located near Beltway 8, Phase ... Read More »
Timber-Framed Building in Denver’s RiNo District Underway by Hines and Partners
DENVER – (Realty News Report) – Hines, with development partners McCaffrey and Ivanhoe Cambridge, broken ground on a six-story, 240,000-SF creative office building constructed with heavy-timber framing. The building, branded T3 (Timber, Transit and Technology), will be located in the RiNo (River North Arts District) near downtown. The use of heavy-timber is considered sustainable partly because trees absorb carbon dioxide ... Read More »
Rising from the Launch Pad: Home Sales up 256 Percent in The Woodlands Hills Community
THE WOODLANDS – (Realty News Report) – Home sales were up 256 percent in The Woodlands Hills, a new 2,000-acre master planned community being developed 13 miles north of The Woodlands. Developed by the Howard Hughes Corp., The Woodlands Hills recorded its initial home sales in the second quarter of 2018 when the Conroe-area community opened. Howard Hughes, which just ... Read More »
West Loop Office Tower Getting a Major Redo
HOUSTON – (Realty News Report) – Hicks Ventures and Taconic Capital Advisors revealed plans for a $6 million renovation of the 18-story 1177 West Loop South office tower in the Galleria submarket. The 342,000-SF building, which opened in 1979, is located on the east side of Loop 610. “Since we acquired the building less than a year ago we have ... Read More »
Texas Regional Malls Sold
SAN ANTONIO – (Realty News Report) –Two enclosed regional malls, located in San Antonio and Amarillo, have been sold. A partnership of Mason Asset Management, Namdar Realty Group and CH Capital Group acquired the two regional malls, which total 1.1 million SF. JLL represented the seller, which was not identified. The 663,978-SF South Park Mall was developed in San Antonio in 1968. ... Read More »
Approaching Build-Out: Nine-Story Spec Tower Underway at Memorial City
HOUSTON – (Realty News Report) – Nearing built-out status, MetroNational has broken ground on a nine-story, 190,000-SF spec office tower in Memorial City, a 265-acre mixed-use project in West Houston. “The new office tower will mark the completion of a 2.7-million square-foot campus in Memorial City,” said Jason Johnson, President of MetroNational. “Over the span of a decade, MetroNational has ... Read More »
Backfilling a Class AAA Office Tower
THE WOODLANDS – (By Ralph Bivins, Editor of Realty News Report) – A 30-story office tower located 30 miles north of downtown Houston goes vacant. The analysis template prompts the knee-jerk responses: crisis alert – punch the red emergency button. While it’s true that the overall view of the Houston office market shows softness (20 percent vacancy, give or take). And it’s ... Read More »
Historic Preservation Winners: Houston Good Brick Awards Presented to Outstanding Projects
HOUSTON – (Realty News Report) – Preservation Houston’s 2020 Good Brick Award winners represent a more diverse mix of projects in terms of their locations, eras of origin, architectural styles and uses. The organization recognized – and showcased — examples of excellence in preservation, restoration and enhancement of historic and cultural properties at its Cornerstone Dinner, held recently at River ... Read More »
