Realty News Report Covering Commercial and Residential News

HOUSTON – (Realty News Report) – Fiesta Mart LLC, a Houston-based grocery chain that is being acquired by Groupo Comercial Chedraui, has leased about 32,000 SF of headquarters office space near the Galleria. Fiesta Mart, which has 63 stores, has agreed to be sold to Chedraui, a Mexico-based retailer, for $300 million. Fiesta Mart LLC, represented by CBRE’s Rich Pancioli ... Read More »

HOUSTON – (Realty News Report) – Houston-based Mosaic Residential purchased the The Club at Stablechase, a 148-unit multifamily complex located near Schroeder Road and Highway 249 in the Champions area of northwest Houston. The seller, CFH Investment Partners, was represented by CBRE’s Matt Phillips and Clint Duncan, in the off-market transaction. The Club at Stablechase, built in 1999, features one- ... Read More »

HOUSTON – (Realty News Report) — Sealy & Co. acquired the Sam Houston Business Park, a 262,631-SF, four-building project in northwest Houston. Tom Lynch & Heather McClain of CBRE represented the seller, the Levey Group. The business park, which is 100 percent leased, is located in the 8800 block of North Sam Houston Parkway West. “The acquisition of this trophy ... Read More »

HOUSTON – Valcap Group has acquired a 352-unit multifamily community in Katy, west of Houston in an off-market transaction, according to CBRE. The apartment property, The Remington Katy, now known as Luxe at Katy Apartments, is located at 22631 Colonial Parkway. Matt Phillips and Clint Duncan, both Senior Vice Presidents with CBRE in Houston, represented the seller, Conti Street Partners, ... Read More »

DALLAS – The FedEx office headquarters at Legacy West in Plano, near Dallas, has been purchased by PRP Real Estate Investment Management of Washington, D.C. The seller, KDC Real Estate Developments & Investments, was represented by CBRE’s Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill. Completed in 2015 by KDC, the four-story, 263,621-SF office building ... Read More »

SEABROOK, Texas – (Realty News Report) – An investment entity led by Shelley Hunt-Nichols of Banyan Equity Management has acquired the 216-unit Edgelake Apartments on the southeast side of Houston. Edgelake Apartments, built in 1984, are located at 3010 E. NASA Parkway and are 95 percent occupied. Clint Duncan and Matt Phillips of CBRE represented the seller, SEC Edgelake LLC ... Read More »

HOUSTON – (Realty News Report) – Hurricane Harvey accelerated multifamily absorption in Houston and drove a rise in rental rates, according to a new analysis by international real estate firm CBRE. “A quickly draining construction pipeline — with less than 7,700 units underway — and reduced inventory due to flooding is causing supply to tighten further while demand from displaced ... Read More »

HOUSTON – Houston has the largest supply of sublease office space in the nation, according to a new report by CBRE Research. Houston had an 11.1 million SF of sublease space on the market at year-end. Boston ranked second with 4.8 million SF of sublease supply, followed by Manhattan at 3.8 million SF. The oversupply of sublease space, which is ... Read More »

HOUSTON – Houston’s energy companies accounted for only 18 percent of the office leasing activity in the city last year, a significant decline from historical levels, CBRE reports. But, in a demonstration of Houston’s diversified economy, companies in other industries stepped up and leased a large blocks of office space. Houston’s office occupier demand has diversified, reports CBRE. It’s not all about ... Read More »

HOUSTON – CBRE Capital Markets’ Debt & Structured Finance team has secured a $92 million loan for the refinance of Willowick Park, a 552-unit apartment community in the Inner Loop of Houston. The apartments, recently developed by Houston-based Martin Fein Interests, are located west of Weslayan Street and south of West Alabama. The properties included in the transaction are: Aria ... Read More »

SAN MARCOS, Texas –Austin-based Hops & Grain Brewing is expanding outside of Austin to San Marcos, Texas. The five-year-old brewery has signed a 10,796-square-foot lease at Crossroads Center (110 East MLK Drive) to house a second production facility and tasting room. Bryan McMurrey and Sergio Negrete of CBRE represented the landlord, MLKSM, LLC, led by Mark Sheilds. Lance Tindall of ... Read More »

HOUSTON – The Thompson & Knight law firm has leased 70,000 SF of sublease space in the BG Group Place building at 811 Main in downtown Houston. BG Group is vacating the building, which was developed by Hines. CBRE’s Kevin Kushner, Charles Gordon and Lucian Bukowski represented Thompson & Knight in the lease transaction. “The opportunity to create a modern ... Read More »