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The “F Word” Will Be Spoken in Houston in 2016

HOUSTON – The “F Word.” The word “foreclosure” will be heard by commercial real estate professionals in 2016. About a year ago, Houston was leading the nation in office building construction with some 17 million square feet underway and more projects proposed. Rental rates are going down and vacancies are going up. Sublease space is everywhere and more new buildings ... Read More »

Colliers: 70 Houston Office Buildings Have 100,000 SF (or More) of Vacant Space

HOUSTON – Seventy office buildings have 100,000 SF or more of contiguous office space available, according to Colliers International’s third quarter Houston report. Colliers reports 22 buildings have 200,000 SF or more of vacant space, including sublease space. As the energy industry stumbled, office vacancy increased to 14.5 percent citywide, compared to 12.2 percent in the third quarter of 2014. ... Read More »

Marathon Oil Tower Expected to Fetch $300M; And Change Houston’s Investment Narrative

HOUSTON – CBRE Global Investors is selling the 1.2 million-square-foot Marathon Oil Tower in Uptown Houston for at estimated $300 million or $250 per square foot, according to Real Estate Alert. CBRE has been retained to market the 41-story building, 5555 San Felipe, near Yorktown Street. Marathon occupies 62 percent of the building. Baker Hughes Oilfield Operations occupies 42,000 SF, ... Read More »

Texas Leasing Magnate: The Q & A with Chip Colvill

Colvill Office Properties is an owner’s representative company specializing in office building leasing in Houston and Dallas. Colvill’s high-profile Houston assignments include Hines’ 48-story spec project under construction on Main Street and Frank Liu’s redevelopment of the downtown Post Office property. Colvill currently oversees a large portfolio of Class A office space in the nation’s fourth largest city and the ... Read More »

CBRE: Oil Skid to Hurt Office Occupancy in Houston

HOUSTON – A slowdown in Houston’s energy industry could cause direct office vacancy to hit 15 percent by 2017, up from 11.6 at the end of 2014, according to a new report by CBRE Research. Almost 17 million square feet of office space is under construction in Houston. A total of 1.3 million sq. ft. of sublease space has been ... Read More »

Dinerstein Developing 375-Unit High Rise Near Texas Medical Center

Houston – Dinerstein Cos. is developing the 21-story Cambridge & Holcombe apartment tower near the Texas Medical Center in Houston. With a large employment base in the Texas Medical Center, which is the largest medical center in the world, Dinerstein is banking on hospital employment outweighing the negative influence of the decline in Houston’s energy industry. The 375-unit high rise ... Read More »

50 Proposed Multifamily Projects Killed or Postponed in Houston in Wake of Oil Crash

HOUSTON – Developers have shelved plans to build some 50 multifamily projects in Houston, where a sharp drop in oil prices has dampened the local economy, according to Patrick Duffy, president of Colliers International in Houston. “We’ve heard 50 multifamily projects have been cancelled or postponed,” Duffy said in remarks to the CoreNet and IFMA luncheon in Houston. Houston has ... Read More »

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