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New Hines Skyscraper Reaches 50 Percent Leased Mark

HOUSTON – The new Hines office tower in downtown Houston, has reached 50 percent occupancy with the signing of a 225,000-sf lease by Chicago-based United Airlines. Located at the corner of Main and Texas streets in downtown Houston, the 48-story, 1,050,000-SF office tower will be complete in early 2017. United will consolidate its Houston office employees in the building from ... Read More »

Hines Sells California Tower for $616 Per SF

LOS ANGELES – Hines has sold the 12100 Wilshire building in the Brentwood area of Los Angeles for $225 million or $616 per SF. The 19-story building was purchased by a joint venture of the Douglas Emmett Inc. REIT of Santa Monica, Calif. and the Qatar Investment Authority. Hines, on behalf of its U.S. Office Value Added Fund II, acquired ... Read More »

RNR’s Texas Real Estate Briefs

NAI: SPRING BRIDGE PROPERTIES BUYS WAREHOUSE HOUSTON – NAI Partners represented Spring Bridge Properties, LP in the purchase of a 15,000 SF warehouse on 2 acres in Hardy Industrial Center located at 21430 Spring Bridge Drive in Houston Michael Keegan of NAI Partners represented the Buyer, Spring Bridge Properties, LP during the negotiations, while Richard Quarles and Mark Nicholas of ... Read More »

Hines REIT Selling Major Properties in Liquidation Move

HOUSTON – Hines Real Estate Investment Trust, Inc., one of three public non-listed REITs sponsored by Houston-based Hines, will sell seven West Coast office buildings to a Blackstone affiliate for $1.162 billion as part of a plan to liquidate the REIT. Blackstone is acquiring 3 million SF of Hines REIT office properties including the Howard Hughes Center in Los Angeles; ... Read More »

Amazon to Build an 855,000 SF Fulfillment Center in Hines Business Park in Houston

HOUSTON – Amazon will build an 855,000 SF fulfillment center in Hines’ Pinto Business Park at the southwest corner of Interstate 45 North and Beltway 8 in north Houston. The Harris County commissioners voted Tuesday to provide Amazon with a tax abatement of $180,000 a year for 10 years, as an economic stimulus, according to the Houston Chronicle. Amazon will ... Read More »

Hines Begins Construction on Conrad Hotel in Washington

WASHINGTON – Construction has started on the Conrad Washington, D.C., a 360-room hotel with 30,000 SF of ground-floor retail space at CityCenterDC, a 10-acre mixed-use project being developed by Hines and Qatari Diar. The hotel is the seventh building developed by Hines and Qatari Diar at CityCenterDC., a project that covers more than four city blocks bounded by New York ... Read More »

The Biggest Refi in Texas History

HOUSTON – The oil business may be bleak and Houston’s job growth has ground to a halt. But that didn’t scare away the lenders who just backed the refinancing of the tallest tower in Texas – the 75-story Chase Tower in downtown Houston. In what could be the biggest refi in the history of Texas real estate finance, JLL’s Tom ... Read More »

Branching Out: Hines Begins Its First Seniors Living Facility

NEW YORK – Hines has partnered with Welltower Inc. to acquire a site at corner northeast corner of Lexington Avenue and 56th St. in Midtown Manhattan where a 15-story seniors living facility will be built. “Hines is delighted to partner with Welltower in our first our first venture in the senior living sector,” said Hines senior managing director Tommy Craig. ... Read More »

United Airlines Centre: Coming Soon to Houston Skyline?

HOUSTON – While it’s under construction, Hines’ new building in downtown Houston has been called by its address: “609 Main at Texas.” But it’s been assumed that when a huge tenant comes along, the name of the tower will be a part of the lease deal. A United Airlines spokeswoman stated last week that the airline will be a tenant ... Read More »

Houston Chronicle Leaves Downtown; Newspaper Property Now Controlled by Hines

HOUSTON – After more than a century downtown, the Houston Chronicle — the city’s oldest continually published newspaper — is moving to the suburbs. The relocation of the Chronicle from its block-sized building at 801Texas to the former Houston Post facility at 4747 Southwest Freeway – which was purchased two decades ago – is expected to be completed by the ... Read More »

Hines Buys First Apartment Complex

LAS VEGAS – Hines, which was founded in Houston in 1957, says it has purchased its first existing multifamily community. Hines bought the 308-unit Domain Apartments in Henderson, near Las Vegas. It is the first time Hines has purchased an apartment built by another company. Hines launched its multifamily efforts in 2011 and it has developed 10 communities with 2,687 ... Read More »

Hines Redeveloping Hospital Site in Chicago’s Lincoln Park

CHICAGO – Hines and co-developer McCaffery Interests, with financing from a sovereign Abu Dhabi investment fund, will develop a residential and retail project on the site of the former Children’s Memorial Hospital in Chicago’s Lincoln Park area. Following demolition of the old hospital building, construction will begin on two 19-story apartment towers with a total of 540 units; 60 for-sale ... Read More »

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